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.


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.