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5 Tips To Maximize Your Pawn Loan

The-Most-Valuable-Coins

Wouldn’t it be helpful to be able to maximize your next pawn loan amount? Below are five simple ways to help you get the most out of your next transaction with us.

1. Know the Market

We all know this: some things fetch more money than others. Even though you’re not selling, the loan amount you will get for your pawned item is partially based off of its total expected value on the market. If you know what things are currently more desirable, you can select an item to pawn that will get you a better loan. Remember that known brands are likely to fetch more than off-brands.

2. Know Your Pawn Shop

A pawnbroker has an interest in taking things into his or her shop that will be popular among tclientele. There’s always a chance a pawned item will not be redeemed, so a pawnbroker needs to assess how likely an item is to sell quickly (and for how much). So know your pawn shop’s particular specialties and clientele: what is hot on this pawn shop’s market? Talking to your pawn broker is a great way to get a sense of this.

3.  Avoid Problem Items

Some things are undesirable for a broker. This typically has to do with value: old technology, for example, isn’t likely to fetch much and therefore probably won’t be something you can get much (if anything) on. Avoid fast-depreciating items and focus instead on items that appreciate or retain the same value: antique gold jewelry, instruments, and guns being really solid examples. Items that are often stolen, such as GPS units, are also likely to be undesirable.

4. Good Item Condition

The better condition the item is in, the more you can get. If there’s anything you can do to improve its condition before taking it to be appraised, do it — clean it up, make sure it works, and check for any missing pieces.

5. Repay by Original Date

This may seem less intuitive, but indirectly you will maximize the value you get out of a loan by minimizing how long you pay interest on it. If you can redeem the item and all interest by the original agreed-upon date, your loan will be of more value to you. If you can’t redeem the item by the original date, consider whether you expect to redeem it at all before renewing your loan term length. It may be better for you and your broker to simply allow the pawnbroker to go ahead and take possession of the item: this way the item can be put up for sale, and you aren’t paying unnecessary interest on something you won’t redeem anyway.

Conclusion

Hopefully these five simple tips will help you get the best value out of your next pawn loan. We do hope you’ll stop in and see us soon — as always, please don’t hesitate to ask us any questions. See you soon!

Image Credit: New York Loan Co.

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How Do Pawn Loans Work?

A pawn loan works on a similar principle as other loans, with a few differences in terms of how the particulars work. As with any other loan, you’re taking out a specific sum of money, to be paid back within a given period of time with interest.

However, a pawn loan involves a different process when it comes down to the way you procure the loan and the terms of repayment. Allow us to walk you through the process below.

Starting Out

The first thing that you will need in order to obtain a pawn loan is collateral: that is, something to pawn. In the case of most loans (such as a credit card, student loan or mortgage), the thing you’re putting at risk over against the loan is your credit score. Should you fail to repay, you’ll be pursued by the lender and the numbers on that score will drop. This will affect your ability to take out other loans later.

However, taking out a pawn loan does not require that you have a good credit, nor will your credit be affected should you be unable to repay it. Instead, the item you pawn serves as backup — collateral — against your loan. The agreement is that you will either repay the loan according to the terms of your contract, or forgo repayment and relinquish ownership of your collateral. You will not be pursued for repayment.

The Pawn Agreement

When you decide to take out a pawn loan, you’ll find an item you’re interested in pawning. When you come in, you will see the pawn broker, who will do two things: first, he will assess the range of value the item might fetch on the market as well as how likely it is to be a valuable item to him as a broker. Then, if he thinks this is an item you’re likely to redeem, he will offer you a loan amount based on a percentage of that value.

If you decide this is a fair transaction, you will agree to the terms of the loan. You will be issued a ticket enumerating the loan and its terms. This includes interest rate, repayment deadline, and any other important terms. Typically, you’ll be expected to repay in full or pay the interest to-date by the agreed date in order not to relinquish ownership of your collateral.

For many people, a pawn loan can turn a dire financial situation into a win-win situation,  providing not only the means to secure funds in a time of need, but the ability to do so without the hassle of credit checks. In addition, when you redeem your loan and reclaim your property, you are building a relationship with us, with the confidence that you can turn to us again in a time of need. You can get more information at the National Pawnbroker’s Association and Pawn Shops Today websites.

Image Credit: Wikimedia Commons

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Pawning Guns: What You Need To Know

So, you’re thinking of pawning a gun with us? Great! Let’s go over a few differences between pawning a regular item and pawning a firearm. It’s fairly simple, but the differences are important to know about.

It’s a Fed Thing

The first thing you should know is that, as a safety precaution, the government keeps records of transactions involving a firearm. Chances are, if you’ve purchased a firearm in the past, you’re familiar with this. We know, it’s an extra complication, but the idea is to do our homework at the outset to avoid unnecessary complications later.

Required Forms and Background Checks

Because of this, anyone that purchases a gun fills out a 4473 Form as part of the process; this includes, among other things, a background check. If you’re a gun aficionado, you’re probably very familiar with this process. But did you know that you’ll also be asked to fill out this form at the end of your pawn deal before you reclaim your gun?

State Law

It’s also important to be aware of state regulations regarding gun transactions. However, as Texans, we’re in luck: as long as you are 18 or above and are not a felon, Texas law considers you in the clear.

Safety

The co-founder of PawnGuru points out that it’s also a good idea to make sure you deliver  gun in a safe manner. Really, it’s a simple matter of following gun safety basics: make sure it’s unloaded and locked, and “secure in its locked case,” David advises. Above all, treat the gun like it’s loaded, as you always do.

Conclusion

Besides these few differences, you should find the process of pawning a firearm similar to other pawning experiences in most other respects. The process shouldn’t be terribly complicated once you know what to expect.

And, as with any item you’re going to pawn, be sure to familiarize yourself with the value of the firearm you want to pawn, if you haven’t already. This will ensure the best deal for you.

We hope we’ve provided you with the resources to make a more informed decision for your particular situation. Please comment below with any questions, and do come see us soon!

Image: Mitch Barrie

 

 

 

 

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Should I Pawn Or Sell My Used Items?

To pawn or to sell?

It’s important to understand the difference between these two options before making a decision.

As pawn shop owners, we ask the question if customers are interested in pawning or selling their items. Sometimes we get looks of confusion and we like to make sure everything is understood before a transaction occurs.

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How to Care for Your Guitar: Tips from McBride Music & Pawn

Unidentified man cleans his electric guitar neck with a white rag over the knees. Black and white shot

Unidentified man cleans his electric guitar neck with a white rag over the knees. Black and white shot

Whether you are a novice musician and just learning or a seasoned professional, caring for your guitar will help protect your investment as well as retain the resale value of your instrument, should you wish to trade it in or upgrade in the future.

At McBride Music & Pawn we have over 47 years as one of the largest vintage and used guitar retailers in Denton. When it comes to guitars, we’ve seen it all. Since most of us are musicians it is a little painful sometimes watching amazing guitars come across our counter which haven’t been cared for. We consider guitars to be more than instruments; we consider them art and part of our heritage in some cases, which is worth protecting.

If you have purchased a new or vintage guitar, we have put together some tips to help you properly care for it and preserve its resale value.

Storage

As a rule, guitars need to be stored in a climate-controlled environment. Guitars left in an attic or garage are often discovered to have severe damage, much to the dismay of their owners that thought they had them put up for safe keeping. Extremities, in general, are bad for the instrument. Too hot, too cold, too wet, too dry……..your guitar will not like respond well to any of those environments.

Additionally, never store your guitar for an extended period of time with the strings tuned up to pitch. Slacking the strings down a couple of steps relieves the tension on the neck, but doesn’t take all the tension completely away. For vintage instruments, be sure to take them out of the case a couple of times a year, as old plastics tend to emit gasses that can be damaging to the instrument if they are not allowed to disperse.

Lastly, if you aren’t going to keep your guitar in a case, at least put it on a stand. Many guitars have met an early demise because they were propped up against a wall or corner, only to fall over and have the neck broken.

McBride Band

Doug Burr’s album release at Dan’s Silverleaf with our own Cody Garcia backing.

Cleaning

Have you ever seen a guitar player wipe down his or her strings after a session? That is because your hands transfer dirt and natural oil from your skin to the strings every time you play. A dry cloth works or there are a variety of portable and disposable cloth options. Pinch the string inside the cloth and apply pressure to clean both sides of your guitar string at the same time. As far as cleaning goes, just wiping your guitar down with a clean, lint-free cotton cloth goes a long way, but if you want to take it a step further, be careful what you put on your guitar’s finish. There are even some commercially available guitar polishes that I would never recommend. For most modern guitars, any good, name brand guitar polish/cleaner should work fine.

On older instruments, most of which have nitrocellulose finishes, you need to be much more selective about what you put on your guitar. We recommend GHS Guitar Gloss, Planet Waves, or Preservation Polish. We do NOT recommend Martin brand guitar polish on older instruments, especially Fenders and Gibson from the late 1970’s. This particular polish almost always leaves a cloudy finish that looks worse than when you started.

Other than that, have fun, and enjoy playing the guitar!

“Any place you would be uncomfortable staying for very long, your guitar would be uncomfortable too.” Cody Garcia, McBride Music & Pawn

If you are looking for a new guitar, or want some free advice on the proper care of your guitar from our staff of experienced musicians, bring your guitar in and pay us a visit. We are an active member of the musical community in Denton and enjoy meeting other musicians. We also supply new and quality used accessories for your guitar in-store and a selection of goods on eBay​.

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Upcoming Live Music Events (Denton)

McBride Music & Pawn is a proud member of the Denton and area live music community.  Whether participating as a sponsor for events on the square, or as a musician at one of the open stage concerts, we are out there enjoying and supporting the rich entertainment talent in North Texas.

Twilight Tunes on the Square

The Square in Denton boasts a vibrant music community.  The ‘Twilight Tunes on the Square’ is offered on Thursday evenings in front of the Denton County Courthouse lawn on 110 W. Hickory Street from 6:30 p.m. to 8:00 p.m.  Admission is free and it’s a great opportunity to enjoy quality live music and browse some of the downtown businesses and restaurants, and enjoy the vibe of “the square”.

Grab a chair and some food to catch “The Bird Dogs” on June 4th or “The Raised Right Men” on June 11th.    Click here for the full ‘Twilight Tunes” schedule for the summer of 2015.

Bobby Whitlock & CoCo Carmel

A great live band you won’t want to miss on May 30th at Dan’s Silverleaf in Denton.  Tickets are available online.

The Southpaw Preachers (with Unmarked Graves, Neon Cobra, Chase Ryan and The Grave)

Hailey’s Club in Denton (122 W Mulberry Street) is hosting an event on May 30th featuring five bands.  For more information visit the Hailey’s Club website.

Christy Hays & Caliche (with Kevin Kirby)

On Sunday, May 31st Dan’s Silverleaf in Denton hosts Christy Hays & Caliche.  Tickets are $10 and doors open at 7:00 p.m.  Ages 21 and up only.
Do you have a local live music event?  We’re happy to support Denton’s live entertainment community, so visit McBride Music & Pawn on the square and leave a flyer and event information.  While you’re visiting check out some of our deals.

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Vintage Collectibles and Gift Giving

What do you get someone who has everything?   A piece of the past and an gift that has nostalgic meaning.  That is part of the appeal of shopping at a pawn shop, being able to find unique vintage items that are reflective of local history and culture, built with the kind of classic quality that endures.

gun kit

McBride Music & Pawn – Vintage Gun Kit

At McBride Music and Pawn we have enjoyed seeing some of the most interesting merchandise come through our doors.  We arrange lending for some customers while others enjoy bringing in items that they no longer want or need to sell for cash or credit toward the purchase of other items in our store.  For 47 years we have heard some amazing stories and history about vintage pieces.  It’s one of the reasons we love what we do and you never know what you are going see every time you visit as our merchandise is always changing with one-of-a-kind unique items added daily.

This vintage gun kit would be the ideal gift for any hunter or game and wildlife enthusiast as a display item and conversation piece.   This collection would also be perfect for a hunting or outdoor recreation retail store as a display item.  The kit includes cleaning tools, original oil and 30-30 Powerpoint vintage ammo.   Keep it in the box or remove the components to create an antique gun cleaning display.   This type of item is very popular with some original unopened packages and components.   For more information on this item contact us at: (940) 387-5412.

paragon kiln (1)

McBride Music & Pawn – Paragon Kiln

For people who love to do ceramics, why pay to have someone else kiln dry your projects when you can own your own kiln?   This Paragon Kiln is the perfect size for small to medium projects including dishes, custom vase, holiday decorations or figurines.   Paragon glass kilns are the standard in professional quality for industrial or at-home use and are easy to set up with a space saving design.  If you have wanted to start to create your own creative art projects at home, call us at (940) 387-5412 for more information.

eagle claw reel

McBride Music & Pawn – Stream and Lake Model 88a Fishing Reel

 

Do you know someone who is a fishing enthusiast?  Father’s Day is just around the corner and if your Dad or husband is serious about fishing, consider getting him a unique display gift for his “man cave”.   This Eagle and Lake Model 88A was manufactured by Wright & McGill in the early 1960’s.  The reel is in excellent condition and features the “Speed Lock” mechanism and can be re-spooled and used.   It’s a great gift idea!

Make McBride Music & Pawn your first stop when searching for unique gifts and quality heritage merchandise.  We also carry a selection of musical instruments and supplies, consumer electronics including smart phones and accessories and more.   Visit us on the square in Denton.

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Welcome to McBride Music and Pawn

firearmsGuitars-2gold and silver pile scrap and cash dollar

What is old is new again.  Antiques and vintage collectibles have always been fun to find and buy for consumers who enjoy the authenticity of quality goods. Why pay full price for appliances, jewelry, electronics, guns and musical instruments? Get more value for your money on gently used goods at McBride Music & Pawn.

Used Firearms

We buy and sell quality used handguns, rifles and shotguns and we have been FFL licensed for over 47 years.  If you have firearms that you are not using, call us or bring them by our shop for a purchase estimate.  We can issue you a cash payment for your guns or offer you a store credit toward the purchase of other merchandise.

Trade in your firearms for discounts on quality jewelry, electronics, musical instruments and supplies and more.    And if you are shopping for a gun, pay us a visit first and see what we have in stock.   Whether you are a vintage gun collector, hunting enthusiast or shopping for a new handgun, you will find something at the right price in our inventory.

We Pay Cash for Gold

Turn broken gold jewelry, necklaces, rings and earrings into cash.  We buy scrap gold by weight from 10k to 24k, and we also offer cash for your quality jewelry, engagement rings, wedding bands, necklaces and more.    Contact McBride Music & Pawn for more details.

Denton’s Music Resource

Visit McBride Music & Pawn on the historic square in Denton, Texas for quality used and vintage collectible music instruments and guitar restoration services.  We buy and sell used electric and acoustic guitars and carry other instruments and equipment, including vintage bass and amps.  An important part of the Denton music scene for almost fifty years, McBride Music & Pawn is a fun place to visit.

Appliances and Household Items

Upgrade some of your household appliances in an affordable way by shopping with us.  McBride Music & Pawn is the first stop for students and adults looking for great deals on high quality kitchen appliances, smartphone’s and other personal technology.  You never know what you’ll find, so before you shop and pay full retail price visit McBride Pawn in Denton.  You’ll enjoy some amazing shopping and our friendly staff!

McBride Music & Pawn is a licensed pawn broker offering quick cash and Denton loan services.  Call us at: (940) 387-5412

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