Pawnplus Frequently Asked Questions
Simply put, a pawn loan is a short term loan, usually ninety (90) days or less, secured by your merchandise used as collateral. Though pawn loans may exceed ninety (90) days, in most cases merchandise is returned to customers within the first ninety (90) days. A pawn loan requires no credit check and is an excellent way to obtain cash quickly and efficiently.
We use a formula that takes into account the retail value of item loaned upon and considers the condition of the item and its value present day in the marketplace.
Yes, our inventory database is reported every day to the local authorities via Leads Online, a police reporting clearinghouse.
Yes, our facilities are monitored around the clock by state of the art surveillance equipment and alarm systems.
A pawn loan is a loan that is secured by your merchandise used as collateral. You bring in your merchandise, we give you cash as a loan on that merchandise and we hold that merchandise until you repay the loan.
That is entirely YOUR choice. If you do not repay the loan or maintain the interest payment schedule on your loan, we will work with you to determine if it is best to forfeit your merchandise and cancel the loan, but again, that choice is YOURS !
Options to repay your loan are that interest is due every thirty (30) days and after ninety (90) days principal and interest are due in full. If you are unable to repay in full, the loan can be extended, under certain circumstances, or you can choose to forfeit the merchandise.