How does a pawn work?

A pawn is essentially a collateral loan. Pawnbrokers lend money based on the value of items you bring in, such as jewelry, electronics, and tools. You can reclaim your item by repaying the loan or choose to forfeit the item.

Why would someone go to a pawnbroker to get a loan?

Pawnbrokers offer a fast, convenient, and private way to borrow money without credit checks. It's a disciplined way to get short-term cash.

How much should I expect for a loan on my item?

Loan amounts vary based on the item's value, condition, and demand. There's no minimum amount, but the maximum can be determined by state laws.

How do you determine the value of the item?

Value is based on appraisal, condition, and marketability. Pawnbrokers use various tools to assess the value of different items.

How can I be sure the merchandise I purchase at a pawn store isn’t stolen?

Less than 0.1% of pawned goods are found to be stolen as customers must provide identification, and the information is reported to law enforcement.

Are pawn shops regulated?

Yes, pawnbrokers must adhere to federal laws governing financial institutions. Regulations also differ by state.

Do pawn customers enjoy the same protections under federal law that customers of other financial institutions enjoy?

No, pawn transactions involve different regulations and require reporting personal information to law enforcement.

Do most pawn customers lose their merchandise?

About 80% of pawn loans are repaid, with many customers returning for repeat loans.

Are pawn rates excessive?

No, pawn rates are aligned with the size and duration of the loan, and there are no hidden fees.

PawnShopz | Discover pawn shops in Maryland, Salisbury

pawn shops in Maryland, Salisbury

Crazy Louie's Pawn Shop

phone language pawn shop

Opens in 0 hours ⌁

7 years in business

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pawn shops in Maryland, Salisbury

Crazy Louie's Pawn Shop

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