How Pawn Loans Work
Let’s say you need some cash and have an item that matches the value of cash you need, but you really don’t want to lose the item. That’s when a pawn loan can help. A pawn loan is a type of collateral loan. Money is lent to someone who offers an item worth the same amount that’s given. The item is returned to the owner once the loan is repaid or they can choose to surrender the item as payment in full.
How Pawn Smart Pawn Loans Work
Bring in your item and we’ll determine its value after a thorough inspection and market value research. We’ll then offer you a loan and if you choose to accept it, you’ll be able to take the cash and repay your loan over a set amount of time, as established in the loan agreement. Once the loan is repaid in full, we’ll immediately return your item.
We ensure all items and item accessories are stored in a safe storage location to maintain the condition of the items. Pawn Smart is fully insured for the loan value of the collateral we keep.