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How To Deal With A Pawn Shop

by anonymous

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Pawn shops have existed since ancient times and still are one of the most reliable instant cash loan providers. Generally any asset that has some value can be pawned and later be redeemed by paying back the money owed within a specific amount of time. These goods can be further sold by pawnbrokers if the money owed is not repaid within the stipulated time. While a pawn broker will pay you some money for the item that you pawn, he will further sell it at a higher price than he actually paid you. Therefore, when dealing with a pawn broker it is necessary to negotiate wisely.


Although it is not always easy, but the following steps will help you get a favorable deal at the Austinpawn shops.

  • Provide sale receipts: Collect the receipt of the items that you want to pawn at the pawn store. Many of the pawn shop owners are watchful about ensuring that the items to be pawned are not stolen. Therefore, it is always better to provide a sales receipt of the item and make the transactions easy and quick.

  • Make your decision of selling or pawning: Before entering a pawn shop, it must always be clear in your mind whether you want to sell or pawn the object. Selling the good would mean giving it away to the pawnbroker for a definite sum of money. Whereas pawning the object would mean taking a loan for a fixed time. In case you pawn the item, make sure that you return the loan amount along with interest, within the specified period or you may lose the legal right over the pawned item. However, selling your item would yield you more money than pawning it.

  • Estimate the pawning value: Research thoroughly on the market value of the item that you would like to pawn; only then decide on the pawning or selling price. The sentimental value of the item is also a criteria on which the price chosen for pawning depends on.

  • Negotiate with the pawnbroker: Speak out confidently to the pawn broker about the price that you expect to get for the product and also tell him why. The pawnbroker is guaranteed to offer you a lesser amount than you are expecting to get, therefore it is always beneficial to artificially inflate your amount. It is then your job to negotiate and reach a middle ground on which you both agree. Always remember that the pawnbroker has to sell the item further and wants to make profit, which is why he offers you a lesser price than you hope to get.

  • Use tactics: Tactics like saying you'll visit another pawn shop, you think you'll keep the item or saying you'll sell the item online also work at times in order to raise the price of the product that you want to pawn. However, if the item is rare and valuable, then the pawnbroker might want to make a good deal with you.




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