Q & A's

 

Loans


Q: What is a pawnshop?
A: A pawnshop is a store that accepts most items of value for a collateral loan.

Q: What do I need to come in and make a loan?
A: You will need a valid I.D. and an item to use as collateral.

Q: How long is a loan good for?
A: Our loans are good for a 90 day period. You can pick it up anytime within those 90 days. If, by the 90 days you are unable to pick up your item, you may pay charges due on the loan to renew it for another 90 days.

Q: What type of products do you make loans for?
A: Our most popular items are firearms and jewelry. We also take electronics such as flat panel televisions, laptops, tablets, iPods, DVD players, Blu Ray players and much more. But we also accept household items such as microwaves, vacuums and shop vacs. We also pawn on sporting goods such as fishing poles, golf clubs, compound bows and much more. Give us a call if you don't see your item listed. 


Q: Do you accept firearms?
A: Yes. We buy and loan on firearms. If you pawn your firearm, you are required by law, to go through a background check before we can release the firearm back to you. This can take from a few minutes up to a few days.

Q: Can I pawn more than one item at a time?
A: Yes! You can pawn as many items at a time as you would like. 

Q: What is my item worth and will you give me a loan for it?
A: Best way to determine if we can give you a loan on your item is to give us a call at 253-584-1686 with the model and description of your item.

Q: What happens if I default on my loan?
A: If you do not redeem your item by the due date and you do not pay the interest on the loan to renew it, the item becomes ours and goes up for sale.  There is no exception to this for items covered under the MLA (see far right column).


Q: If I default on my loan, will it affect my credit?
A: No. We do not report to any credit bureau.  



 

Repawns and Redemptions


Q: Can I use my credit or debit card to pick up or repawn my item?
A: No. We only accept cash when you pick your items up or repawn them. 

Q: Will you charge me if I have lost my pawn ticket?
A: NO! We will never charge for lost pawn tickets. Just be sure to bring your valid I.D. with you.

Q: I am unable to come in and pick up my item, can my friend pick it up for me?
A: No. Every item may only be picked up by the person who's name it is under, or their spouse with the same last name.  This does not include firearm loans - these MUST be picked up by the borrower ONLY. 


 

Purchases


Q: What if I purchase an item from you and it doesn't work properly?
A: We offer a 30 day functional warranty on most products we sell.  We offer exchanges or store credit, with receipt only, no refunds.

Q: Can I buy a firearm online and have it sent to you?
A: Yes. We do firearm transfers for a fee. Again, there will be a background check done each time you pick up a firearm from us. This can take from a few minutes to ten business days.

Q: Do you offer layaway?
A: No. We no longer offer layaway. But we do accept cash, credit card and debit for sales. 

Q: Do you barter?
A: No, we do not barter or trade. 



 

Military Lending Act (MLA & DoD)


Staring October 3rd, 2016, we and ALL lenders in the US will be requiring social security numbers to do loans for ALL customers.  This is in accordance with the Military Lending Act of 2006.
Q: What is the MLA?
A: The regulation limits all interest and other charges for credit to a 36% Military Annual Percentage Rate (MAPR) for pawn transactions with active-duty members of the armed services, National Guard, Coast Guard, and Reserve members AND their dependants. (3% monthly interest rate)

Q: Do I have to supply my social security number in order to get a loan?
A: Yes.  In order to make a loan, every customer must supply their SSN.  The DoD requires that ALL pawnshops check all borrowers against the DoD's DMDC database to determine the borrower's eligibility.  We will not be able to do a loan without the borrowers SSN.

Q: If I am military, can i get an extension on my loan?
A: Yes, we can extend loans as Active Military that qualify for the MLA rate are charged on a daily basis instead of a 30 day like traditional loans.


Q: What happens after I give you my SSN for a loan?
A: We will first have you fill out a paper with your personal information (this will NEVER be used for any purpose other than to determine if you are eligible).  Once we verify that you are or are not eligible for this MLA, we will proceed with the loan as usual.  If you are eligible, your loan fees are adjusted automatically to comply with this MLA.  You will then be given another paper to sign stating that you are aware of the MLA and you will be given a copy of this.  If you are not eligible, we can proceed with the loan as normal.  All personal information will be store safely and securely with your loan information and will not be used for any other purpose than for MLA eligibility.  

WE GREATLY APPRECIATE YOUR PATIENCE AND UNDERSTANDING DURING THIS PROCESS.

Please check the DoD's website for further information:
https://www.defense.gov/News/News-Releases/News-Release-View/Article/612795
or here:
https://www.fdic.gov/news/news/financial/2015/fil15037.html