How to get fast cash from pawn shops

February 02, 2020 - Pawn Resources

If you have anything of value, you can get cash from a pawn shops within minutes!

Pawn shops will either buy your item for cash, or they will give you a secured cash loan and hold your item as collateral until you pay off the loan.

The pawn shop only cares about how much they can re-sell the item for, so they don’t care about how good or bad your credit is.  There is almost no paperwork and no background check required at all.  (They will most likely take your contact info and run the item through a stolen item database to make sure it’s legal merchandise, but otherwise it’s a very quick transaction!)

The benefits of using a pawn shop

  • It’s fast
  • Local
  • No shipping (vs. Ebay)
  • Legitimate stores and shop-keepers (ie. no meeting strangers in weird places like Craigslist)
  • If you just need cash, but don’t want to get rid of your item, only pawn shops can offer a quick cash loan for your stuff

The downsides to using a pawn shop

  • Not necessarily maximizing your cash
  • If you take a loan, you risk losing your item if you don’t pay off the loan within a few months
    • Note: About 85% of pawned items are successfully paid back and redeemed
  • Sometimes located in bad neighborhoods

Follow our Pawn Guru blog for more tips on how to get the best deal for your stuff from local pawn shops.

Jordan Birnholtz
Jordan Birnholtz

Jordan Birnholtz is the cofounder of PawnGuru. An alumnus of the University of Michigan, Jordan started PawnGuru in 2015 with Jon Polter, David Stiebel, and Jessica Zahnd. When he's not working at PawnGuru, Jordan volunteers his time to support undergraduates in building socially-responsible businesses and organizations through Optimize, a program at the University of Michigan.

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Avatar for National Pawnbrokers Association

National Pawnbrokers Association

June 3, 2014, 11:03 AM

Nice post! Being one of the most popular topics among Americans, some people are still skeptical about pawn shops. As far as I believe and heard pawn shops are one of the best places for fast cash when all other doors for finances are shut. I rely on them.

Avatar for Zach


March 9, 2015, 10:13 PM

You have to remember that pawn shops are only going to take things that they feel they can turn around and sell for a greater profit. A lot of people forget this when they are trying to pawn off their vehicle. Because they don’t really want to deal with repairs, they won’t give you a lot of money if your car is broken or has problems with it. If you want to get rid of your car, you have to make sure that there is nothing wrong with it to make sure that you can at least get what the car is actually worth.

Avatar for PawnGuru (@PawnGuru)

PawnGuru (@PawnGuru)

March 16, 2015, 4:38 PM

Thanks for sharing Zach! It’s true, a Pawn Shop’s interest in your item will vary depending on the local consumer demand and the market. While some Pawnbrokers have specialists on site that can polish or tweak a product, such as old jewelry or a hunting rifle, other shops may not.

With PawnGuru, customers can communicate with multiple Pawnbrokers in their local area to help determine which is the best shop for their item. On the other side, Pawnbrokers can use PawnGuru to communicate and discover new local customers who have a particular item they may want or feel they can work with.

PawnGuru Team

Feel free to send us questions: “Ask @ PawnGuru .com”

Avatar for Kayla


October 10, 2017, 7:20 PM

Thanks for these tips. My sister is planning to pawn some of her jewelry because she wants to buy a car. She’s now looking up some local pawn shops.

Avatar for Earnest Watkins

Earnest Watkins

February 28, 2018, 2:58 PM

It’s good to know that a pawn shop can offer cash quickly for whatever your needs are. Do pawn shops check credit before giving you a loan? Or is the collateral you put up sufficient? It seems like it would be a good option for someone like me with bad credit to use.

Avatar for Earnest Watkins

Earnest Watkins

March 1, 2018, 3:31 PM

I noticed you mentioned that one of the benefits of a pawn shop is that you can get a quick cash loan for your stuff. Do pawn shops ever take into account your credit score? I have poor credit, so I’d be curious to know if a pawn shop loan would be a good option for me if I ever needed fast cash.

Avatar for Dean Phillips

Dean Phillips

February 28, 2019, 12:35 AM

I thought it was interesting how the article said that if you need cash but don’t want to get rid of an item, then a pawn shop can offer a quick cash loan for your stuff. My brother has been wanting to go out of town for a weekend with his wife, but he is just a little bit short on cash. If he were to take some jewelry or a piece of electronics to a pawn shop, he could use the cash to go on a vacation and then pay to get it back later.

Avatar for Ellie Davis

Ellie Davis

November 26, 2019, 4:25 PM

It’s interesting to know that one of the benefits of pawnshops is that they are fast. My brother is thinking about getting some money to pay for his school, and we are looking for advice. I will let him know about the benefits of pawnshop to help him.

Avatar for Ron Booker

Ron Booker

January 13, 2020, 9:43 PM

It’s good to know that a pawn shop can offer cash quickly in exchange for your valuable belongings. My aunt has a deb that she needs to pay off before it accumulates any late fees. I will suggest her taking some of her jewelry to a pawn shop so she can get enough cash to pay for her bed.

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