January 14, 2020 - Electronics
Pawnbroking first began in Ancient China as a way to give short-term credit to commoners. Today the industry continues to thrive with over 9,000 pawn shops in the United States.
If your finances are tight, you’re not alone, 40% of Americans say they can’t pay for a $400 emergency. If you are considering going to a pawn shop you might be wondering, “Is it better to pawn or sell computers?”
Read on to find out how you can get the most money for your computer today.
There are a lot of different factors that will affect the value of your computer. While some items will sell to a pawn shop for $500 others will only yield $1 in profit.
The age, condition, and type of computer all factor into the selling price. Remember, if you sell to a pawn shop they will offer you less money than you could make selling your computer privately. However, when you use a pawn shop you’ll be able to get the cash the same day you need it.
There isn’t one right answer to whether you should pawn or sell computers.
You can ask your local pawn shop for a pawn loan price and a selling price. After you hear the two numbers you can decide if you want to pawn or sell. If you are attached to your computer, pawning is the best choice.
Pawning means you’ll be using your computer as collateral for a loan. Instead of giving up ownership, you are temporarily handing your computer over for cash.
Once you repay the cash loan (and interest) you’ll be able to get your computer back.
However, if you don’t repay the loan, or take too long, you will surrender your computer to the pawn shop. You should only pawn your computer if you’ll be able to repay the loan on time.
Before you go to the pawn shop you can prepare by clearing your computer’s personal information. Take the time to clear your history, cookies and any password information you have saved.
When you take your computer to a pawn shop they will first want to know how old it is. If you have any special hardware installations make sure you let the pawn shop attendant know. Special hardware could help increase your computers value.
Next, the pawn show worker will inspect the computer for any missing parts. Be upfront about any damage or problems that your computer might have. After visually inspecting your computer, they will research your specific computers market value.
Pawn Guru can provide you with help on your journey to find the best local pawnshop. We are passionate about helping people answer questions like, “Is it better to pawn or sell computers?” and “Can you pawn or sell tires?”
David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.More Articles