February 21, 2020 - Pawn Resources
You can list it on eBay, post it on Facebook Marketplace, turn your gently used clothing into cash on ThredUp or visit a consignment store, or make a deal on Craigslist. But we’re here to tell you that visiting a pawn shop in Washington DC trusts is the best option of all.
Not convinced? That’s OK! Just read on to learn why pawn shops are a really great idea if you have lots of goodies and very little green.
If you’ve never done business at a pawn shop before, you might be under the mistaken impression about what they are. Perhaps this from watching cable television, which is never a good idea. In fact, pawn shops are mostly small, local, and independently owned businesses that help support the economy in your area, whether that’s Washington DC or another city. Their customers are respectable, responsible citizens just like you and your neighbors.
Pawnbrokers are licensed and regulated by state and federal authorities. Every transaction that takes place at a pawn shop is on the up and up.
Furthermore, today’s pawn shops are clean, well-lit, well-stocked emporiums (emporia? is that pretentious?) offering a huge variety of desirable goods, from tools to jewels.
Pawning an item or items is essentially like taking out a small loan. These loans are nonrecourse and collateral based. What does that mean? Well, “nonrecourse” means that the pawnbroker can’t demand repayment of any funds that have been advanced to you.
That’s because you provide collateral for the loan. Rather than relying on your credit history, or reporting the loan to a credit agency, a pawn shop works by requiring you to submit an item of value.
If you return the money within a certain time frame, you receive your item back. If you can’t repay this loan, then the pawnbroker keeps the item in order to sell it in the shop. It’s pretty simple, really.
Because the average loan is about $150, pawning an item is often a fantastic alternative to a high-interest payday loan, high-fee check cashing service, or other financially unsound decision. Pawning your valuables can help you out in a pinch.
It’s also a good way to sell belongings that have monetary value, but little to no sentimental value. (We’re lookin’ at you, Grandma’s string of pearls.)
How much time do you have? Seriously, just about anything that others might want, from fur coats, couture accessories, and jewelry to guns, tools, electronics, and musical instruments.
Curious yet? Then check out the nearest pawn shop in Washington DC, with your item in tow. You’ll get a quick offer, all the terms will be explained to you in detail, and you will walk away with cold, hard cash.