How Do Pawns Work?

If you haven't been to Little River Pawn, you may be missing out on some great bargains. A pawnshop is like a dozen garage sales and a flea market all rolled into one. Pawnshops also play an important role in many communities by providing people with an easy, fast way to borrow small or large amounts of money. There are three things that happen in any pawnshop hundreds of times every day:

-People borrow money by putting up something they own as collateral.

-People sell used merchandise.

-People buy new and used merchandise.

Pawnshops and pawnbroking have been around for thousands of years. The basic idea behind any pawnshop is to loan people money. It goes like this:

You bring in something you own and give it to the pawnbroker as collateral for a loan (this act is called pawning).
The pawnbroker loans you money against that collateral.
When you repay the loan plus the interest, you get your collateral back.

If you don't repay the loan, the pawnbroker keeps the collateral.

All loans are 100% confidential. Only the person pawning can pick up an item, and you must own the item you are pawning. Each loan is an initial 30 day loan term with a 60 day grace period to pay it back. The loan may be extended if all interest payments are current. Pawns accrue interest every 30 days, and if no payments are made, they can be defaulted at 90 days.

When pawning a firearm, you must pass a FREE background check to pick up your firearm. Make sure you are legally allowed to own a gun BEFORE pawning.

Common items we take on pawn are tools, lawn care equipment, firearms including black powder and parts guns, jewelry, including gold, silver, platinum and diamonds, Rolexes, collectible coins and silver coins,knives, military memorabilia, some electronics, guitars and amps, digital cameras, camping equipment, fishing gear, flat panel tv's, some antiques and archery equipment. If you're unsure about an item, contact us