History of Pawn
HERE to read "A Brief History of Pawn Shops" by Ethan Trex
What is a Pawn?
The terms on which the loan is given are that you have 4 months to repay the loan with interest (this may include a storage fee depending on the size of you item. There is no charge on the first cubic foot.) IN CASH. You may also pay only the interest (and storage fee if applicable) to extend your loan for an additional 4 moths. There is NO limit on how many times you extend your loan. You may do this in-deferentially if you so choose. Only the person whom name the loan is made under may pick up they item. Anyone can bring in you pawn slip to extend your loan for you. If you Pawn Slip is lost or stolen you will have to pay a convenience fee of $10.00.
Pawning VS. Selling
For "Selling" an item you will ALWAYS get more money than if you were to "Pawn" it. The difference between pawning and selling an item is that when you pawn an item it remains yours. We are only holding it as collateral for the cash we give you. While if you sell the item it is no longer yours but property of the business.
What happens to my item?
While your item is pawned it is held securely until the loan is redeemed or lost. If you fail to renew or redeem you pawn with in the time allotted your item will become property of the business and put on the show floor to be sold.