Why Delray Beach Pawn is the Best Place to Get a Deal for Your Valuable Items

Why Delray Beach Pawn is the Best Place to Get a Deal for Your Valuable Items

With inflation getting out of hand, many people are turning to pawn shops to get cash for their valuable items. People have the option of selling their items or getting a loan for them. They can leave the store with cash in hand and use the money to get out of a financial bind.

But not all pawn shops are created equal. It’s important to find one you can trust to give you good deals on your valuables. You will want to work with a business that has a stellar reputation in the community.

There are various pawn shops to choose from, but people in the Delray Beach area prefer Delray Beach Pawn. Read on to find out more about the pawning process and what makes Delray Beach Pawn stand out from the competition.

Selling vs. Getting a Loan

You have two main choices when you are looking to get cash for your goods. You can sell or get a loan.

Selling is a good option if you don’t mind permanently parting ways with your item. It simply requires coming into the shop and having the item evaluated. If you agree to the offer, you can leave with cash in hand.

The loan process is a bit more complex, but it’s still pretty straightforward. The nice thing about it is, you can get the cash you need, and you can still get your item back. Here’s what’s involved:

1. Go into the store with your item. The salesperson will evaluate it and offer a loan that’s worth a percentage of its value.
2. If you accept the loan, you can leave with cash in hand.
3. Begin paying off the loan according to the terms including fees and interest.
4. Once the loan is paid off, you can get your item back.
5. If you are unable to pay off your loan, the pawn shop will keep your item, but the balance will never hurt your credit or go into collections.

Why is a Pawn Shop Better Than a Bank?

If you are going for a loan, you may wonder, why not just use a bank? After all, a bank is an institution you know you can trust.

However, pawn shops can be just as trustworthy as a bank. What’s more, there are several factors that make pawn shops a more convenient option. Here are some to consider.

• Easy Approval: If you go to a bank, they will want to see proof of income, a good credit score, etc. They will want to feel confident you can repay their loan. A pawn shop uses the item as collateral so they will never check your income or credit. All you need is an item of value, and you are good to go.
• Instant Approval: Banks will require extensive paperwork before approving your loan. It will take them days or even weeks to review the documents so it will be quite some time before you see your money. A pawn shop will approve you instantly so you can leave with cash in hand.
• No Bad Credit/ Collections: if you fail to repay a bank loan, it will permanently damage your credit and go into collections. If you fail to repay a pawn shop loan, you will lose your item, but your credit will remain intact, and you won’t have to deal with annoying collectors.

What Items Will a Pawn Shop Accept?

Different pawn shops will accept different items. Some will accept any item of value. Others will specialize in specific merchandise like jewelry, musical instruments, firearms, etc. Here are the items Delray Beach Pawn will accept.

Gold Jewelry: Gold jewelry is a popular pawn shop item. If you are not sure if your gold is real, you can check it to see if it has stamps that indicate its karat weight or another type of hallmark. Real gold will also sink in water. Your jewelry will be worth even more if it contains real gemstones or was made by a well-known designer.

Luxury Watches: Luxury watches are watches made by an upscale designer such as Cartier, Rolex, Audemars Piguet, Van Cleef & Arpels and more. Your watch may be worth more if it contains gemstones or if it is rare model. You can do some research to find out which luxury watches tend to sell for big money.

Designer Handbags: Handbags can catch a good amount of money if they are made by a popular designer like Chanel, Gucci, or Dior. Rare models and those made with fine materials will bring in the big bucks.

Firearms: Almost any types of firearms will be accepted by a pawn shop. However, ones that are newer and in better condition will go for more money.

Electronics: Electronics that are in demand at pawn shops include game consoles, smart phones, digital cameras, musical equipment, flat screen TVs, DVD players, computers, stereo systems, and more. However, technology updates quickly. If you have older electronics, they may not be accepted unless they have obtained vintage status.

How to Get Your Item Ready for a Pawn Shop Sale

There are several things you will want to do to get your item ready for a pawn shop sale. These steps will ensure you get a high valuation. They include:

• Clean the Item: if your item is dirty or dusty, you will be less likely to get a good valuation on it. A simple cleaning can do wonders when it comes to bringing in those bucks.
• Make Small Repairs: A pawn shop may not accept your item if its majorly damaged, but if it requires a small repair, go ahead, and get it done. It will increase the sale price or loan amount.
• Get Ready to Test It: It’s likely the pawn shop will want to test your item before they agree to buy it. Get it ready to test by ensuring there are fresh batteries inside it, and that all the wiring is available (for watches and electronics). If you are bringing in a firearm, you should have ammo that can be used for testing purposes.
• Bring in Ownership/Authentication Papers: if you are selling a firearm, the pawn shop will want to see ownership papers to ensure it was not stolen. If you are selling high end goods like jewelry, a watch, or a handbag, it’s advisable to bring in original receipts and/or authentication paperwork that prove your item is the real deal.
• Bring ID: This may go without saying, but you will need to bring in ID to loan or sell your item.
• Get it Appraised: If you are unsure how much your item is worth and want to make sure you get a fair price for it, you may want to get it appraised before you bring it into a pawn shop. The appraiser will let you know its value so you can feel confident you’re not getting ripped off. Keep in mind that a pawn shop will not pay you the full market value of the product but a percentage of what it’s worth. This enables the business to make a profit.

What to Look for in a Pawn Shop

Pawn shops have gotten a bad reputation in the past. Common issues include low evaluations and inflated prices.

Some may be so fly by night, they will be there one day and gone the next, which can be a real bummer if you have an item on loan. Then there are those who may have ‘accidentally’ lost your item.

A few bad eggs can give plenty of people cold feet when it comes to selling or getting a loan.  But the truth is, there are many pawn shops that are reputable companies that have been working for years to build a solid reputation in their communities. These are hardworking people that are happy to give customers great deals and help them overcome financial difficulties.  

So how do you know if the pawn shop you’re working with is one you can count on? Here are a few indications.

• Licensing: A business license shows that the business is safe for the public. It’s advisable to work with a pawn shop that’s licensed.
• Insurance: Most pawn shops will have insurance in place so they will be reimbursed if their items are damaged or stolen. If the pawn shop has insurance and they lose your item for any reason, they will provide compensation. If they do not have insurance, you may not be so lucky.
• High Valuations: If you are loaning or selling an item to a pawn shop, it’s advisable to choose one that offers high valuations. This will ensure that you get a good amount of money for the item you are leaving at the shop.
• Good Loan Terms: Loaners will also want to pay attention to the loan terms the pawn shop offers. It’s advisable to find one that offers long term loans that give you time to pay off your debt. Low interest rates and no surprise fees are also desirable loan characteristics.
• Strong Business History: It’s wise to work with a pawn shop that has been in business for a few years or that has other locations in the area. This means that the staff knows what it’s doing. It also shows that it has loyal customers which speaks miles for its reputation. It also means it’s not likely to shut down while your item in on loan.  
• Good Customer Reviews: Today, almost every business has online reviews you can look at that will give you some idea of what your experience will be like working with the company. The higher the rating, the better.
• Location: It’s advisable to find a pawn shop that’s local to your area. While some pawn shops have websites, most will require you to come in person if you are loaning or selling goods.

What Makes Delray Beach Pawn Stand Out

There are plenty of pawn shops Delray Beach to choose from, but Delray Beach Pawn stands out from the competition. Here’s what makes us the best pawn shop for your needs.

• High Valuations: We guarantee to provide you great valuations on the items you bring into our store.
• Excellent Loan Terms: When it comes to loan terms, Delray Beach Pawn can’t be beat. We offer low interest rates with APRs that never exceed 24%. Our term loans can be as short as one day or as long as ten years. We will never tack on surprise fees for early payments or for any other reason.
• Strong Business History: Delray Beach Pawn has an extensive history in the community with multiple locations in the South Florida area.
• Private Appointments: We understand that your finances are your business. That’s why we offer customers private appointments to customers selling or getting a loan. Call in advance to set up your private appointment today.
• Great Selection: Our location is not only a great place to get a loan or sell, but it’s also a great place to shop. We offer a wide selection of gently used designer goods at affordable prices. You will find the items of your dreams for a fraction of what you would pay elsewhere. If you can’t come into our shop, you can also browse our website.
• Friendly, Knowledgeable Staff: Our friendly, knowledgeable staff is well trained in the designer goods, firearms, and electronics industries. This enables them to offer accurate evaluations and to help you find the high-end goods you have always dreamed of.

We are fully licensed and insured.

Pawn shops are a great way to get out of a financial rut. Delray Beach Pawn stands out from the competition due to our high valuations, low interest rates, and terrific service. Contact us to find out how we can get you out of the red and into the green.