Information About Our Pawn Quotes and Loan Process

A pawn is a collateral-based loan. A customer brings in an item of value and leaves it with the pawnbroker to secure a short-term cash loan. Loans are made for 30 days, but a state-required 60-day holding period means that the customer may leave his or her pledged items in the pawnshop for 90 days without any concern that their item will be sold.

We will make loans on almost anything of value that we can safely store in that location. Common items that customers bring to our store include gold and silver jewelry, firearms, tools, televisions, video game systems and games, musical instruments, stereos, cameras, and even DVD movies.

Note: If your item is very large or you have any questions about it, feel free to call one of our locations.

• Loans are based on the wholesale value of your item in its present condition. You can assume you will receive roughly half of what a similar item would sell for used or about 25% to one-third of the new price of a similar item.
• But I paid a lot more than that!
• Yes, but your item is no longer new. More importantly, if we loaned the full retail value of your item, there would be no reason to reclaim your merchandise. You would just go buy a new item from the store rather than pick up your used item. Remember, you are not selling your item. You are merely borrowing against its value. You will get your item back when you redeem your loan.
• Do I have to borrow the maximum value of my item?
• No, in fact, most people only borrow the amount they actually need, even if their item is worth a lot more. The more you borrow, the harder it is to redeem your item. There is no reason to borrow more than you need.

Anyone 18 years old or older with a valid government-issued photo ID can take out a pawn loan. You do not need to have a job or bank account. Obviously, you must be the rightful owner of the property you leave for collateral. You cannot pawn items that don’t belong to you or that are subject to rental agreements or liens.

1. Kansas Terms

In Kansas, our loans are written for (1) month with a (2) month grace period at a rate of 10% per month or any part of a month. You can make payments and keep the item(s) in as long as you need to. If you redeem (pick up) your loan, you can bring it back anytime and get the money you need again. If you choose not to redeem (pick up) your loan, there is nothing to worry about. Once the loan expires, we just process the item(s) and put it out for sale.

2. You can make payments any time during the loan term or feel free to pay in full before the loan expires.

The receipt you receive when you take out your loan is a claim ticket. Anyone who possesses that ticket may claim the item. The only exception to this are firearms. Generally, we will only allow the original pledgor to redeem a firearm.

The only consequence of a pawn loan foreclosure is that you lose your pledged item. We do not report the loan foreclosure to any credit bureau or agency. No one will know that you did not redeem your loan. Also, loan foreclosures do not prevent you from taking out more loans in the future.