|
Loans |
Actually a pawnshop loan is not a loan at all. It is a pawn whereas collateral such as jewelry, electronics, tools, musical instruments or most anything of value is brought into our shop and left for us to hold for an agreed on sum of money. This means that you, the customer, have the option to pay back or to forfeit. You have thirty days (really sixty counting the thirty days grace period) in which to decide. If you decide to forfeit there is no action necessary on your part. The merchandise simply comes out of pawn and is priced to be sold. You are under no obligation. If you decide to redeem your collateral you may do so within thirty days or you may renew the pawn by paying a one month charge which would extend your maturity date an additional thirty days.
We accept a wide range of merchandise for collateral although jewelry seems to be the most convenient. It is small and usually has a high dollar value. On the other hand TVs and camcorders seem to bring the highest loan amount relative to their actual worth. Whatever your collateral we will be most happy to consider.
A pawnshop loan should not be confused with an installment loan. What we offer is quick cash. A typical pawn transaction usually takes no more than 5 or 10 minutes. Since pawn charges are somewhat higher than bank interest our customers usually pay off and redeem their merchandise within one to three months. Remember, we're talking about a service that no bank or finance company can offer you.
The service we provide at American Pawn and Jewelry enables customers to make ends meet between paydays, to fill a prescription or pay a doctor bill that may arise out of a sudden illness. All kinds of emergencies such as car repairs, unusually high utility bills, tragic accidents or even a death in the family. We also can help ease the strain and stress felt around the Xmas holidays. Many small businesses use us when the pinch comes. We can provide money to buy materials to finish a job, to purchase additional tools or just operating money until the job pays off.
We are eager to serve you in any way that we can. Please talk to us. Just phone for information or stop in to see us on Sparkman Drive. Your transaction will be completely confidential.
 |
American Pawn and Jewelry is a Division of Electro-Lease, Inc. Questions and comments may be sent to pawnbroker@americanpawn.com |