FREQUENTLY ASKED QUESTIONS

WHAT IS A PAWN?


A pawn is a loan. Your item is the collateral for the loan, and the amount you receive is dependent on the item’s value. Your item is stored on site in our vaults until you pay off the loan. By California law, your loan will be four months long. During that time, you can pay off the loan, or pay the interest and renew the loan for another four months. However, if you do not pay or renew the loan, your item becomes ours to sell to recover the money we loaned.

HOW OFTEN WILL I MAKE PAYMENTS ON MY LOAN?


You only need to make one payment at any time during the period of the loan, either to pay off the loan and receive your item back or pay just the interest to renew the loan for another four months. If you need more time, you can pay the interest and renew the loan for four more months. When the loan is paid in full, you receive your item back.

IF I ALREADY HAVE AN ITEM IN PAWN, CAN I ADD ANOTHER ITEM?


While you cannot add an item to an existing pawn, you are always welcome to get as many loans as you need. One loan does not affect the other.

WHY ARE THE PRICES FOR ITEMS THAT YOU SELL LOWER THAN OTHERS?


We are in the instant cash market, so we can pay closer to the actual price of the item. With fewer variables to deal with, it saves us money when purchasing our stock. We can then pass those savings on to you.

SHOULD I SELL OR PAWN?


The choice is entirely up to you. If you don’t need it, sell it. If you want to eventually get it back, pawn it. People who sell their item to us do get more than those that pawn it, so if you really don’t need it, sell it.

WHY SHOULD I CHOOSE YOUR PAWN SHOP?


There are several reasons to choose us. First, we don’t charge if you lose your original ticket. For another, we have over 32 years of experience in this business to offer you. We also take a wide variety of merchandise that other pawnshops don’t.

Call or text us at (510) 758-7000 if you would like to learn more!

WHAT HAPPENS IF I DON’T REDEEM MY ITEM?


If the foreclosure date arrives and you haven’t redeemed the item or paid the interest to renew the loan to get 4 more months, you lose ownership of the item. If you feel at the outset that you will be unable to redeem or renew the loan within 4 months then it’s better to sell the item to us outright since you usually get slightly more money that way. However if you do need to walk away from a loan we won’t hassle you endlessly or send bill collectors after you to try get you to pay it back since the loan is collateralized with the value of the item. You’re also free to make another loan with us at a future time if you choose.

IS MY INFORMATION CONFIDENTIAL? DO YOU REPORT TO CREDIT BUREAUS?


All information is confidential except required by law. We do not report your information to credit bureaus; you will not take a hit to your credit if you need to foreclose on a pawn loan.

CAN I VIEW INFORMATION ABOUT MY LOANS AND LAYAWAYS ONLINE?


Yes, we have a mobile app that allows you to see what pawn loans and layaways you have with us, their due date, and how much you’ll need to pay to redeem or renew.