Is Pawning Your Items for a Loan Better Than Selling Them Yourself?

June 16, 2012 by  Filed under: Loans 

If you’ve ever been short on cash, you probably already know that the first thing you turn to is selling your possessions. Most of us have a few valuable items in our homes, whether it be jewelry, watches, computers, MP3 players, phones, or really anything at all that could be valuable. pawn shops online offer low interest rate loans in exchange for holding onto your items. You typically mail the item to the pawn shop, allow them a couple days to inspect the item and ensure that it has the value that you originally claimed, and then they will confirm the value and offer you a lower interest rate loan. Once you have repaid your loan, the pawn shop will return your item back to you. This is particularly popular to people that would rather not lose the item that they are using in their time of financial crisis. There are very few people that have not gone through this at some point in their life.

So is pawning items for loans better than selling your items directly?

In today’s modern world, there are a lot of options for us to sell items. The Internet has brought about a lot of new ways for us to market things on our own. Previous to the Internet, selling your own items had to be done through consignment or by hitting the streets and talking with your neighbors. Now, there are a variety of auction sites as well as local listing sites such as Craigslist where you can list your items up for sale. Often times when you sell items directly, you get much more money for them than you would if you were to pawn them. However, the downside is that you do not have the item returned to you. Being able to simply pay off your loan that the pawn shop has provided you with and receiving your item once again can be very useful. It is particularly useful if you have an attachment to the item or planning to buy it again once you have established your financial ground.

Here are some of the things that pawning an item for a loan offers, that selling it directly doesn’t:

-Pawning an item is practically hassle free. When you pawn in item, you are dealing directly with the pawn shop and not individuals. Online pawn shops are highly professional businesses and working with them should be very simple and straightforward.

-Many online pawnshops also offer free item collection. The items you have that are valuable will be collected by their choice courier, such as FedEx. This offers a free and secure method of transporting your items through a middleman business.

-Getting an offer on your items as quick and easy, and once your items have arrived at the store, it only takes a day or so for them to inspect the product and ensure it is worth its claim value. After this process has completed, your loan will be initiated and it will only be a matter of hours before you receive the cash.

-Once again, pawn shops are preferred over directly selling an item mostly because you can have the item returned to you at the end of the loan.

There are many pawn shops online which turn items with value to fast cash. Online pawn shops are an effective way to get cash.

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