Understanding Financing Terms

Getting The Best Offer At A Pawn Shop: Three Helpful Tips

Going to a pawn shop can be one way to get extra money to cover a financial emergency, but you'll want to make sure you are getting the best offer possible for any items you bring into one of these businesses. Use the following tips to help get the most for the items you plan to pawn.

Consider Selling

Pawn shops typically offer short-term loans for items, but they also purchase items outright. Loans require the pawn shop to hold inventory for a certain amount of time, as the loans come with the option of you paying the money back to retrieve your items. Some pawn shops may be willing to pay more for items that are sold instead of pawned, as the shop owner can resell your items right away. Determine if you are willing to permanently part with the items you have. If you are, you may be able to get more money by simply selling them and walking away with the cash.

Present Your Items In Good Condition

Before you bring your items to a pawn shop, make sure they are in the best possible condition. Clean jewelry, dust off electronics, and do any other cleaning tasks you can to make your items seem as new as possible. Test electronics to make sure that they work, and if you have any documentation to go with your items, be sure to bring it with you. For example, if you are selling a diamond ring, bring any appraisal certificates or dimaond certifications to the pawn shop. The shop owner can use these items to help establish the value before making an offer.

Be A Customer First

Getting to know your local pawn shop can go a long way toward getting a great offer when you need it. Visit your local shop often, and make purchases when you can. Pawn shops can be great places to purchase used DVDs, CDs, and even musical instruments at a discounted rate. Take time to chat with the staff when you visit, and work to build a relationship with the pawn shop owner. If the staff knows you, they may be more willing to loan a higher percentage of the value for your items when you are in need. This approach also works if you are looking for a specific item, as the shop owners may be willing to offer a discount on items to repeat customers.

Pawn shops make great places to sell old items and to purchase items at a discount. Use these tips to get the most out of your items when you are in need, and be sure to return the favor when you can by coming back to make a few small purchases.