What is a pawn?
To receive pawn loan, a customer and Pawn Depot will agree on an item’s value, and the item will be left with us as collateral in exchange for a short-term cash loan. Simply put, leave your item with us until it’s time to come back, repay the loan, and collect your item.

What is the difference between a pawn/loan and selling your item?
Pawning an item means that you are using your item as collateral to secure a loan. After appraising the value of your item, the pawnbroker will work with you to determine the loan amount. Selling an item at a pawnshop is simply that: selling an item to the pawnbroker.

What is a renewal/rewrite?
A renewal/rewrite is when a customer pays the interest due on their loan to create a new contract, extending the loan.

Will my merchandise be sold?
We securely store all collateral property for the duration of the loan contract. If the loan contract expires and the customer has not renewed or redeemed the item, the collateral items will be placed into our inventory and put out for sale.

How do you determine an item's value?
We use many factors in determining an item’s value, including age, condition, and the value it currently holds on the retail and reseller markets.

How do you determine the value of jewelry?
The value of jewelry is determined by assessing the salability of the piece, the gold content using current market gold value, and using several wholesale/retail websites to determine the value of the stones. All this information is then compiled to offer a fair market price.

Will you give a quote on an item over the phone?
Yes! Our loan associates are trained to give you an estimated range on your collateral as you describe it over the phone. Of course, we cannot guarantee a quote until we examine it in-store.

Is my collateral safe?
Be assured that Pawn Depot has a state-of-the-art alarm and video surveillance system in place 24 hours a day, 7 days a week. Jewelry items are locked in our safes until customers redeem them. All other items are stored in our safe, secure, climate-controlled warehouses. Also, all Pawn Depot employees must pass a background check and we also insure all items to further protect our customers from loss or damage.

Can I receive a pawn/loan on a firearm?
Yes! Firearms are some of the best collateral for short-term loans. Each of our locations has secure, climate-controlled vaults with management-only access to protect your firearms for the duration of the loan. Each location has a federal firearm license and is regulated by the ATF. Also, we require a completed background check (4473) before any firearm is released.

Are pawnshops stocked with stolen merchandise?
Pawn Depot follows all applicable state and local laws to ensure we are not dealing in stolen property. We report all incoming items daily to law enforcement agencies to be cross-referenced with reported stolen property. If it is believed that we’ve received a stolen item, we work diligently with both local law enforcement and the victim towards a resolution.

Is a pawn/loan favorable over a title or payday loan?
Yes, a pawn/loan is favorable over a title or payday loan. If a pawn/loan expires it simply switches from a loan to an inventory item at our stores, eventually to be sold to compensate for the loan. If a title or payday loan becomes due without payment, it can and will affect your credit score. Also, the payday loan company can garnish your paycheck, seize funds from your bank account, and you may have to to attend small claims court. Be aware that title and payday companies typically charge much higher interest rates compared to a pawn/loan company, and their loans are typically 14-60 days in duration, while pawn/loans are 60-90 days.