Did you know that you can pawn your old electronics, insturments and all kinds of other items? Pawning items is a great way to get rid of old junk that you do not need or to just get a little bit of extra cash when you are desperate need. This article will teach you how to pawn something.
Things You Will NeedItems to Pawn
Step 1Start out by gathering all of the items that you would like to pawn. If you can think of any items that are of value that you do not want anymore or can pawn to get a little bit of extra money then gather them all together. Once you have everything together, you can start looking around for a pawn shop in your area. Different pawn shops will give you different prices for items depending on the pawn shop and the items that they currently have.
Step 2Look up many different pawn shops in your area and give them a call. You can find pawn shop phone numbers on the internet or in a phone book. Ask about how much they will give you for your items that you would like to pawn. Sometimes they may not be able to give you an answer until you show them the item but sometimes they will be able to tell you exactly how much they will give you for your items. Most pawn shops give you 30% of the current value of the item.
Step 3Compare prices with different pawn shops and see which ones will give you the best deal. Once you find a pawn shop that you like, bring your items in. Allow the pawn shop to take the items and give you cash. You will have 1 month to pay off the money that you borrowed plus interest that is different depending on the pawn shop. If you do not have enough money to get the items out, you can usually pay the amount of interest and get an extension, allowing them to hold your items for another month. This will prevent the pawn shop from selling your items. Array
Tips & Warnings
You can also sell your items to most pawn shops without having to pawn them if you do not want the items anymore. Most of the time you can get a little bit more money for selling the item as opposed to pawning it.
Pawning items that you want to keep should be a last resort when you need money because if you do not have enough money to get the items out after your allowed time is up, you will lose your item to the pawn shop and they will sell it to someone else. You will also have to pay interest on the pawn so you will end up spending more money in the end than you gained so this should only be used as a last resort when you need cash fast.