Are you in need of some quick cash?
If you have explored all your options including asking a friend or applying for a bank loan, may be you can pawn your TV for scoring a great deal.
By doing some quick research you can easily find out how pawning works. One of the most popular items that pawn shops buy are diamonds, gaming consoles and electronics.
These shops buy used items and resell them to other consumers for making profits. However, there are various pawn shops that hold your items as collateral if you are seeking a small loan.
You can get back your stuff as soon as you pay back the loan.
Do you have a flat screen television that you barely watch? Pawn shop owners can quickly evaluate the value of your old or new television set and tell you how much money you can get or borrow against it.
After making sure your TV is in good condition, he makes a cash offer, keeping in mind his desired profit margin.
The process works because you can get good value for used or new items without the hassle of selling your favorite items or putting an ad for dealing with customers individually.
One of the biggest benefits of this type of loan is that there is no complicated process involved. This is a type of in-house loan that is solely on the basis of the condition of your TV. You don’t need to have a good credit history to get instant funds. The lender is only concerned with the brand and size of TV you’ve got, apart from assessing a few other options.
How much is your TV Worth?
Your local pawnbroker is going to offer a price after assessing the quality and features of your TV. A few specific features include:
When you are buying a new TV, the first thing you check is whether it is manufactured by a reputed brand. The same goes for a pawnbroker. Pawn shops prefer taking branded LCDs and LEDs.
A few of the brands that you can easily sell or pawn are:
Other brands such as Vizio and Sharp can also help you receive a decent amount of money.
What’s a TV without a good set of features? A hi-tech TV naturally grabs the attention of a pawnbroker than a conventional set.
Some owners are not familiar with the bells and whistles of their own TV’s.
Here are a few features that can easily help you pawn your TV:
- Do you own a smart TV? If you have a TV that can work with the internet, users can benefit from a host of online services such as Amazon or Netflix.
- Is it a plasma, LCD or LED television?
- Does it display programming in 3D?
- Does your TV handle 4k resolution, which is the latest in UHD technology?
Get to know everything about your TV before you head out to the pawn shop so you can get the best possible offer.
How old is your TV?
Thanks to rapid advancements in technology, the value of TV sets frequently fluctuate unlike other pawn items like jewelry. Ideally, your TV should not be more than two years old so you can get maximum cash against it.
The bigger, the better. Size matters when it comes to pawning a TV. If you happen to own a large flat screen TV, you can successfully score a great deal. All TV’s over 42 inches are great for giving you the maximum amount of money you can get.
Nothing puts a smile on a pawnbroker’s face than a TV set that has no or few parts missing. It’s great if you have your TV’s original box, HDMI cables, power cords, and above all, its remote control.
You are likely to remove the pedestal or your TV stand when transporting it. However, you must take it along. Although a large number of pawn shops happily accept incomplete TV products with missing cables and stands, a complete package is sure to sweeten the deal for you.
One of the most important parts of a TV set that adds great value to your item is none other than the remote control. If you intend to sell your TV, selling it with a used remote control may end up in a less than tempting offer, since the pawnbroker would have to buy the original remote when reselling your TV.
How Much Does A Pawn Shop Usually Pay For A TV?
If you are looking to receive a loan against your TV, the size and age of your TV play a big part in deciding the price you can receive. In case you have a newer version of a flat screen TV you can get a reasonably good price from many pawn shops.
If you own a TV that has all the components intact and is less than 26 inches, expect a loan of somewhere around $25-$50. Any missing or defected parts can reduce this price.
In case your TV is in perfect working condition and lies between 26 and 42 inches, then you can easily receive $75 to $200 for it.
All televisions that go beyond the 42-inch mark hold a special place in a pawnshop. The broker evaluates the condition of your TV set and makes an individual offer after verifying its features and parts. Generally, the price starts from $150 and goes up, considering the age and features of your 42” TV.
Although most pawn shops are open for negotiation on the price of an item, the price you receive for a TV hovers within the price range we have mentioned.
A complete set is key to getting the best value for your TV. Make sure you have all the cords, remote control and the original box of your TV. But if you have a TV that has an antenna attached to it, expect to get little or no money for it.