Q. WHY WOULD SOMEONE GO TO A PAWN SHOP TO GET A LOAN? 

A. We offer people a quick, convenient and confidential way to borrow money. A short-term cash loan can be made with no credit checks and no legal consequences if the loan is not repaid. Pawnbrokers, also known as collateral loan brokers, make loans based on the value of the collateral. Checking the customer's credit history is not necessary because they are leaving their property to cover the amount of the loan. If the loan is not paid off or at least the monthly charges paid during the specified term, the item is forfeited and may be resold by the broker to recover their costs.

Q. HOW MANY PAWNING CUSTOMERS LOSE THEIR MERCHANDISE?

A. The vast majority of our customers repay their pawn loans and pick up their merchandise. The national average shows 75 to 85% of all pawn loans are repaid. If a customer chooses not to repay the loan, the merchandise/collateral for the loan is FORFEITED and the store takes possession of it.

Q. HOW MUCH SHOULD I EXPECT FOR A LOAN ON MY ITEM? 

A. Loan amounts vary according to the value of the item. There is no minimum dollar amount allowed on a pawn transaction but the maximum amount may be set by state pawn laws. Your loan amount will be determined according to factors such as demand and condition of the item. Not all pawn stores are the same and price will vary between them.

Q. DO I NEED IDENTIFICATION? 

A. We are required by state law to use only a government issued photo ID card as identification each time a customer sells or pawns an item. We also accept US and International Passports. There are no exceptions to this rule, even if we know you personally and have conducted several transactions with you in the past. We are required to check for updated information on every transaction.

Q. CAN I PAWN SHOP SELL MY PAWNED ITEM?  

A. While an item is “in pawn”, the title and ownership of an item remains with the borrower until the loan defaults. The item is securely stored in a state of the art vault. A pawnbroker is not able to sell a pawned item unless the borrower fails to redeem or renew a loan at the end of the contracted period and the item is forfeited.

Q. ARE PAWN SHOPS REGULATED?  

A. Yes. Pawn shops are regulated by local, federal and state laws. We are subject to laws such as Truth In Lending Act, Equal Credit Opportunity Act, Fair Credit Reporting Act, Patriot Act, and Federal Trade Commission Rules on Data Privacy and Security Transfer. At the federal level, we are regulated by the Federal Trade Commission (FTC), Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), and the Treasury Department.

Q. WHAT IS AN EXTENSION?  

A. If you are unable to pay back your loan in full on its due date, you may choose to get an extension on your loan. With an extension, you will be required to pay a portion of the interest owed then you may extend the length of your loan for as many days as allowed by state law. You may extend any loan you have with us for as long as you like and we will continue to hold your item and care for your valuables as if they were our own. Keep in mind we are fully insured for your protection.

Q. WHAT IS A RENEWAL? 

A. If you are unable to pay back your loan in full on its due date, you may also choose another option to pay your interest called a renewal. With a renewal, you pay the interest that has accrued on your loan in full, and a new loan is written. The principal loan amount remains the same, as does the interest rate, but the due date is reset for the full loan term. This gives you another 90 days before you need to worry about losing your item.

Q. HOW DO YOU DETERMINE THE VALUE OF AN ITEM?  

A. We base pawn loan amounts on the value of your item. Our expert employees have decades of experience in appraising the value, based on its current condition and market value. We use all the research tools we have at our disposal to determine an item's value and get you the most money we can. The appraisal process varies depending on the type of items for example, jewelry is evaluated differently than a DVD player. We use many tools to help determine the value or your items and get you what you need. We work hard to ensure that our loan values are in line with the general marketplace for pre-owned merchandise.

Q. WHAT ABOUT THE VALUE FOR GOLD AND JEWELRY?  

A. Our brokers have access to the latest prices paid on precious metals and Diamonds so we can get you the highest value on your item at any given moment. When jewelry is the collateral we test the precious metals and diamonds to determine their value. The diamond testing includes a visual inspection using a jeweler's loupe, weighing the item, sizing (determining carat weight) any stones, and noting the cut /color/clarity of each.You may know this as the 4 Cs. In addition, we test the metal using a special acid that determines the karat of gold. This is done to ensure a clean test so there are no false readings on your item that may detract from what we can loan you.

Q. WHAT ITEMS DO YOU NOT ACCEPT?  

A. We don't accept stolen items and guns.

Q. ARE MY ITEMS SAFE WHILE THEY ARE IN PAWN? 

A. While your item is in pawn, you still own it. It is our responsibility to keep it safe and in good condition while it's in our care. In many cases your item is safer with us than in your own home. "YesPawn" has a state of the art security system that is locally monitored 24 hours a day. Only "YesPawn" has Time-Lock safes to ensure the highest security possible. When you give us an item for pawn, we keep all accessories (remote controls, cables, etc.) with your item and place it in a secure area. Your item is safely stored here until you come back to pay your loan in full and claim your merchandise. All "YesPawn" are fully insured for full replacement value of the collateral we keep. If you item is ever lost or damaged you can feel confident that the item will be replaced with a like item.

Q. CAN I GET INFORMATION ABOUT MY LOAN OVER THE PHONE? 

A. We take our customers’ privacy very seriously, so only some information can begiven over the phone. We are able to tell you your due date and interest amounts (this information can also be found on your pawn ticket), but we cannot give you any other detailed information about a loan over the phone.

Q. CAN YOU GIVE ME A QUOTE OF AN ITEM OVER THE PHONE?

A. Unfortunately, in most cases, we cannot. Again, each item is unique and in order to provide the highest loan amount possible, we must review the specific attributes of your collateral and its condition in person prior to making an offer

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