BLUE DIAMOND PAWN SHOPPE
How does a pawn work?
A pawn is another term for a collateral loan. Pawnbrokers lend money on items of value ranging from gold and diamond jewelry, musical instruments, televisions, electronics, tools, household items, firearms, and much more. Loans are based on the current value of the collateral. When a customer pays back the loan, their merchandise is returned to them. Blue Diamond Pawn shoppe offers extensions/renewals on all pawns.
Why would someone go to a pawnbroker to get a loan?
Pawnbrokers offer the consumer a quick, convenient and confidential way to borrow money. A short-term cash need can be met with no credit check or legal consequences if the loan is not repaid. Pawnbroking imposes a discipline on the borrower that other lenders do not. Pawn loans do not cause people to overextend credit or go into bankruptcy. Blue Diamond Pawn shoppe will loan money on anything of value.
How much should I expect for a loan on my item?
Do most pawn customers lose their merchandise?
On average, about 80 percent of all pawn loans are repaid. Repeat customers make up a majority of the business, similar to any other lending or retail establishment. Pawnbrokers establish relationships with their customers because they often borrow against the same items repeatedly. Pawnbrokers offer non-recourse loans, looking only to the item being pledged to recover their investment if the borrower chooses not to repay the loan. Blue Diamond Pawn shoppe makes every attempt to alert customers of past due tickets prior to placing for sale when their past due.
Are pawns rates excessive?
No. To provide their service, all lenders must charge rates commensurate with the size and duration of the loan, collateral, risk and recourse. Pawn transactions are most often short term loans with no hidden charges. The fee of the loan is often less than one might leave a waiter/waitress for similar cost of lunch or dinner.
Blue Diamond Pawn Shoppe, Inc. All rights reserved.