Regardless of whether you need to purchase economical gadgets or sell individual belongings for fast money, a pawn shop is a reliable go to for your needs. Be that as it may, numerous misguided judgments with respect to pawn shops have jumped up throughout the years.
One common misconception is that they only carry junk. Pawn shop owners like Gems N' Loans, want to buy items that will sell quickly and not take up valuable store space. For this reason, they take special care to ensure only high quality merchandise is available for customers to buy.
It has also been a common mistake thinking that pawn shop loans are expensive, and people worry a loan from a pawn shop will have an impossible repayment plan that leaves them with excessive debt. This isn't the case, and state laws limits interest rates on pawn shop loans and many lenders offer competitive rates.
You might have even heard that they sell stolen goods. This common myth couldn’t be further from the truth. Pawnbrokers work with local police departments to prevent the buying and selling of stolen goods. Furthermore, they also hold collateral or purchased items for a set period of time before selling them, for this very reason.
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