Pawn Myth, or Fact?

Some movies and TV shows don’t portray the best picture of pawn shops, which is why Auto Pawn is giving you the inside scoop.

These dramatized depictions falsely represent the pawn business when really, it’s a clean source to receive money and goods!

Keep reading to find out the truth behind pawn shops.

Pawn loans are expensive: Myth

A common misconception of a pawn shop is- the pawn shop itself. Rather than looking at pawns as places, you go to sell something, look at them as a place providing financial resources, like loans.

Pawn loans are not expensive either, their interest rates are set by state laws and have a good system behind them. They are short-term, collateralized and don’t cause people to overextend credit.

Pawn loans are for people with poor credit: Myth

Another misconception: pawn shops are not a place for underprivileged individuals or for people with poor credit scores.

Each year about twenty-five million Americans from all economic groups use pawn services of all kinds. To buy something, sell something, or when they need a fast-financial alternative. Fun fact: the average pawn loan user is around the age of thirty to forty years old and employed.

Pawn shops are stocked with high ticket items: Fact

Most people think pawn shops only carry goods that have been stolen, but really, it’s a place where people come when they want cash for their nice items.

Jewelry, boats, cars, art, and watches are just some of the nice items that make up a pawn shop. The great thing about these businesses is their flexibility in products. If you have broken jewelry, don’t worry, pawn shops will still pay you for it.

And that’s not all. If you’re in the market for a classic car or motorcycle most pawn shops will sell it to you pre-approved, no credit check needed. Keep in mind, every pawn shop is different and carry their own set of regulations.

One thing is sure, at Auto Pawn we pawn boats, cars, bikes, dump trucks, and more up to $100,000. When you need cash fast, we are here to help you out. Just visit our website or give us a call.