MeenaJewel.com

When your anniversary is coming up very soon, and you still haven’t gotten a gift for your partner, a good place to shop can be a pawn shop. If you are short on money it can be a lifesaver to go to a pawn shop because of their low prices. You may wonder why a pawn shop could be such a great place to shop when you are trying to find something for the most important person in your life, your spouse or partner.

Shopping at a pawn shop will save you money while providing you with a special gift that is highly individualized and likely cannot be copied. What could be better? Because of how a pawn shop works, it will routinely have one-of-a-kind items available.

The objects are used but will be in very fine condition. Pawn stores routinely offer items that are no longer available as new in your usual stores. This means you can find wonderful vintage items at a great price at a pawn shop. The only store that could have more vintage items than a pawn shop would be an antique shop though the antique shop may have less expertise in small items like jewelry and watches.

The average couple will mark their 25th and 50th anniversaries with gifts and celebrations, but why shouldn’t you share gifts with each other every year? When you think about how special that person is to you, any anniversary provides a reason to celebrate with a special gift for him or her. You need not get a large, expensive item. A small piece of jewelry or a little item that your partner has expressed interest in is all you need to purchase. Your loved one will be happily surprised, and you will have made a delightful, loving impression on them.

Remember that pawn shops are no longer terrible places to go to be found only in dingy, dark back alleys. Pawn shops are brightly lit, clean stores with very knowledgeable and helpful staff. You need not worry about accidentally purchasing stolen merchandise at a pawn shop because the pawn broker is working with law enforcement to be sure that the items they have in their store were not obtained through a robbery. Pawn shops are regulated by various federal, state, and county laws. They have procedures in place to help catch stolen items before the pawn shop purchases them from someone.

With all the different items routinely available at pawn shops, you should have no difficulty coming up with a great gift. Think about past special occasions and trips. There could be something that you could get that will remind your partner of one of those special times. Throughout the time you have spent together, we are sure you have shared numerous enjoyable moments that can be represented by some unique gift.

Come in and look at the selection pawn shops in Scottsdale have to offer. Items will always be in excellent condition. One of the fun things about working with a pawn shop to find your gift is that our assortment of items for sale is always changing. If you have enough time until the special day and don’t see something today, it doesn’t mean you won’t find what you want next time you stop in. When you are in pursuit of something specific, be sure to let the pawn shop’s staff know. Most are willing to call you when that item, or something close to it, comes in to see if you might be interested.

Don’t just grab a bouquet of flowers or a box of chocolates to give your partner on your anniversary. Instead, come in and see what one-of-a-kind gift you can find at Arizona Jewelry and Loan in Scottsdale. We are easy to get to from anywhere in the valley, and our staff will gladly assist you in making a purchase. You, and your partner, won’t be disappointed.

You need extra money fast and are about to pawn your piece of jewelry or designer watch. Great idea! You can get cash on the spot and then you will have the opportunity to retrieve your item once you have repaid the loan, interest, and any other fees. What happens if you do not return to reclaim your pawned item? Or you may be worried about what happens if you cannot repay your loan on time.

First, how does a pawn loan work?

Many people use their valuables on a regular basis to help make ends meet. Oftentimes when the need arises for short term financial help due to an unforeseen expense a pawn loan is the best solution.

Pawning an item is quick and easy. The borrower simply brings the item they wish to use as collateral to help secure the loan to the pawn store. The loan amount is based on a percentage of the value of the item being used as collateral. The borrower must repay the loan in full plus interest and fees in a set amount of time in order to get their item back from the pawn broker.

Know your options when the loan is due

Unlike other loans, when a pawn loan is due, the borrower has multiple options. The borrower may 1) fully repay the pawn loan and retrieve the collateral item, 2) pay the interest due then renew the loan for another set amount of time, or 3) choose to default on the loan by not paying back any part of the loan and therefore forfeit the pawned
item.

The borrower may fully repay the pawn loan to retrieve the item on or before the due date. If you are unable to repay the loan in full when it’s due, you may be able to renegotiate the loan. Usually you will be required to pay the interest due from the first loan but will not be required to pay any on the principle part of the loan. You will be charged an additional fee each time you must renew your loan based on the amount owed, so it is an excellent idea to pay the interest plus any additional amount you can pay towards the principal balance (or borrowed amount) to decrease the overall cost of the extension of the loan.

A customer can choose to not pay back the pawn loan for any reason (they do not have to explain why to the pawn shop). Instead of repaying the borrowed money they will just relinquish the collateral items to the pawn shop. When this happens the pawn shop will sell the items as they see fit.

Not being able to pay off a pawn loan has no effect on a person’s credit score. This is a major difference and benefit of pawn shop loans. Credit is not part of the transaction. The value of the collateral items covered the amount the pawn shop loaned to the borrower. When the loan is not repaid the pawn shop simply uses the collateral items to cover the amount of money loaned and not repaid by selling off the items. You cannot expect regular car or other secured loans taken through a bank to work this way. They will report your non-payment of the loan to credit agencies while repossessing your car. This can make it much harder to get a traditional loan or credit card in the future.

What can you do if your item is forfeited?

Although it should not be relied on, it is not unheard of for a relinquished item to be repurchased at a later date by the person who originally pawned it. A surrendered item that remains available for sale may be able to have its pawn loan reactivated for the interest amount due plus fees if all components of the original pawned items remain available.

Despite what some people may believe, pawnbrokers do not set out to confiscate pawned items so that they can sell the items in their shop. In fact, it’s in the best interest of the pawn broker to have the loan repaid and the item returned to its original owner. This helps to create happy customers who are likely to return to pawn the same (or more/other) items should they need extra funds again in the future. Pawnbrokers know that if they sell an item that was pawned, they will only make their money back once. But if you pay back your loan and recover your item then need their services again, that same item could create repeat business for the pawn shop in the future.

What if you accidentally leave an item at a pawn shop?

Remember all that information they collected about you when you first set up the pawn loan? The pawn broker will use it to attempt to find you in order to return your items to you. They do not want to hold them if you have paid back the loan completely. They want you to get your items back. So answer your phone when they call!! And make necessary arrangements to pick up your collateral items.

AZ Jewelry and Loan is one of the best local jewelry pawn shops to work with when you are using jewelry or other types of vintage items as your pawn loan collateral. We give the best offers because we really know the worth of your jewelry and other high-value objects due to our vast experience with those types of items. Contact us or come in to our store to see what we can do for you.