FAQ at Superior Outlet and Pawn Shop
Pawn Shop FAQ
Pawn Shop FAQ
- Are items in a pawn shop stolen?
No! We work very closely with law enforcement. Every item that comes into the pawn shop has to be reported to the proper authorities. In each report we include the customers information who pawned or sold the item, a serial number and a detailed description of the item.
- How does a pawn shop work?
Pawnbrokers lend money on items of value ranging from gold and diamond jewelry to musical instruments, televisions, tools, household items, and more! These items maintain their value over a reasonable period of time and are easy to store, especially jewelry. All customers provide collateral, eliminating the need to distinguish high risk from low risk borrowers. The contracts loan period is 30 days plus a 15 day grace period (late fees apply). At the end of the 30 days, a customer may choose to redeem their item or pay a finance charge and extend their loan for another 30 days. An extension may be made as many times as the customer would like. Interest rates will vary with the amount of the loan.
- What is the difference between buying from a pawn shop and buying from a retail store?
The main difference between pawn shops and retail stores is price! At the pawn shop you can get items up to 90% off of retail prices! Pawn shops also have a wide variety of items so you aren't stuck choosing from just one or two brands.
- How much money can you get to pawn your item?
Generally a pawn will net you 10-30% of what the item sells for new. A lot of factors take place when assigning a value to an item such as age, condition, and demand.
- What can I bring into the pawn shop?