Have you ever been in a pinch and needed money fast?
sDo you have an endless pile of stuff in your house you want to get rid of, but want to make sure you’re getting the most money you can?
Well contrary to belief, eBay and other online selling sites may not be the best option.
Pawn shops are actually a phenomenal way to get rid of stuff fast and get the money you are looking for. Don’t believe it? Keep reading to find out how!
The Truth About Pawn Shops
The truth is… they’re pretty convenient and staffed by helpful people. Your ideas about pawn shops might come from movies and cable TV. Those ideas might not be bad, but they’re not exactly accurate.
Pawn shops are professional, customer-service driven retail operations. Almost 30 million people use pawn shops every year. That is a staggering number and a significant amount of people. They serve an important role to their communities in buying in selling used items, as well as offering financing on better terms than other “lenders of last resort”.
Pawn Shops > eBay: Here’s Why!
If you are looking for money fast, and have stuff lying around your house, there’s nothing better than a pawn shop. When you visit a pawn shop, you have two options: pawn your item, or sell it.
When you pawn something, you are essentially taking out a collateralized loan. You bring something in that is of value, the pawnbroker gives you a percentage of the item’s worth as a loan immediately in cash, and then you have a period of time to pay that back.
If you do not pay the loan back in time, the pawn shop keeps the item. They then have the opportunity to sell that item for a profit.
Why is that beneficial? If you need money but want to avoid a payday lender or asking a friend, you can get cash without using your credit line or harming your score. If you are able to pay that loan off within the allotted time period, you get your item back.
Alternatively, if you just want to sell an item, pawn shops offer great convenience. First, you get your money right then and there. That means no waiting around for your item to sell on eBay and having to relist it multiple times before it sells. And possibly have it not sell at all. Second, another major benefit to pawn shops versus eBay, Craigslist or other online sellers is safety. The web is full of scams, and unfortunately, it is causing people to lose money every year. This is especially true among millennial shoppers.
But with a pawn shop, you are dealing with your buyer face-to-face. This also allows you to negotiate a little bit to get what you need.
Ready to upgrade that old TV of yours? Pawn shops are a great way to make some cash off of your old one, to help you purchase that new one you’ve been eyeing for months!
Have some old diamond jewelry that you never wear anymore? Take it to a pawn shop and get some nice spending cash!
You Know What to Do!
Pawn shops offer more convenience than online auctions and more safety than peer-to-peer marketplaces. Whether you need a quick loan and are looking for things to pawn, or need to unload a pile of old stuff, pawn shops are the way to go!