Since the recession, more and more Americans have been turning to pawnshops to pay the rent. For many people this may be a mistake. Pawnshops have come under scrutiny for predatory lending practices. These shops hold onto people's valuables for three to four months, using them as a guarantee against a loan while typically charging a three to four percent interest rate. Often the valuables are worth much more than the cash loan.
For customers with bad credit and no bank account, however, pawnshops can serve as an important lifeline. At Gems N' Loans Temecula you can create your own musical history. Learn more!
Need some quick cash? If you have an attic or basement full of stuff that has value but is only gathering dust, you might have considered heading to a pawnshop. And although you could walk away with money in your pocket, novices should learn the ins and outs of how these transactions work before they even enter the shop.
Pawn shops are busy – and the best ones are really, really busy. When they’re looking on Gems N' Loans in Temecula to find items they want to give cash for, they’re looking for shortcuts. They want to be able to look at an item and know exactly how much it pawns or sells for. Items that don’t have a lot of description or information get ignored because it’s too time-consuming to think about how much they’re worth!