Pawning an item can be an excellent way to access cash fast.

How it works is simple: you bring an item of value into a pawnbroker like Cash Express. We evaluate the item and offer you a loan with certain terms based on our appraisal of the item. If you accept the loan, we hold onto the item as you pay back the loan.

Once you pay back the loan, we hand you the item. No credit checks, no long applications, no denials for bad credit.

It’s easy enough and helps plenty of people cover financial gaps every day. However, you may be a bit confused if you’re new to it, so we put together a few quick tips to pawn your items with confidence.

1. Do Your Research

First and foremost, nothing instills confidence like doing your homework. Spend some time online trying to discover how much your pawnable items might be worth.

Depending on the item, nailing down exact numbers might be hard — not to mention every pawn shop differs. Still, this can help you determine which item to pawn based on how much money you need.

2. Set Realistic Expectations

Pawn shops generally hand out more money for a pawn loan than they do when outright buying an item. They’re willing to do so because they’re likely to get their money back at some point.

Still, despite doing your research on the item, you may not get the exact amount you want when you bring the item in. Pawn loans still create some risk for the pawn shop, after all. Additionally, the pawn shop may discover something else about your item that changes how valuable it is.

With these in mind, set realistic expectations for the final loan amount you might receive.

3. Decide How Much You Value Your Item

Ideally, you pay back the loan and the pawn shop returns the item to you. However, if you fail to pay back the loan, the pawn shop takes possession of your item.

Thus, decide how much you value the item. If it’s, say, a piece of family heirloom jewelry, you may not want to take the risk.

However, if it’s a ring from an ex, or maybe one of many guitars you own (and not one of particular value) you may not stress too much if you fail to pay back the loan.

The good thing is that (as mentioned) your score won’t take a hit from failing to pay since no credit check occurs. The worst that happens is you lose your item.

4. Visit a Reputable Pawnbroker Specializing in Your Item

Pawn shops sometimes get a bad reputation because of a few bad apples. These bad apples do exist, but the majority of pawn shops are excellent places willing to get you a good price on any valuable item you bring in.

With that in mind, try to find a pawn shop that specializes in the item you’d like to pawn. For example, if you have a nice guitar, look for a pawn shop in your area that mainly buys/sells/pawns musical instruments.

If you’re looking for a pawn shop in Philadelphia, look no further than Cash Express. We especially love jewelry and precious metals, but don’t let that stop you from bringing in other items! We’d be happy to take a look and get cash into your hand as soon as today. Feel free to give us a call at (215) 922-1560 or come stop by to learn more!