This year has been hard for everyone, and tons of people are seeing new ways to earn cash for the holidays in the Dana Point area because of it. While you could pick up a last minute side gig, there are faster and easier ways to get quick cash without having to do a lot of extra work. One of the best ways is to sell things like old jewelry or tools that you no longer want or need to a pawn shop, or to pawn them for a quick cash loan if you do want to be able to buy them back later on. Here is everything you need to know about how to do both of those types of transactions at a place like Gems N’ Loans Dana Point.
How to pawn items for a quick cash loan
The first thing you need to know about taking out a quick cash loan is that it’s not going to get you as much cash as it would if you sold the item outright. This is because you’re often trading the convenience of being able to buy the item back later, guaranteed, as well as the opportunity to earn some quick cash. When you sell the item outright, you forego your right to come back and buy the item back later on. The store could turn around and sell the item right away, rather than promising to hold it for you to buy back later when you pay off your loan.
In order to take out a quick cash loan, you’ll need to bring the item and any certificate of authenticity that might come with it. This isn’t required, but it will likely mean you can get more for the item because the pawn shop doesn’t have to authenticate it themselves, making it more valuable. The details of your quick cash loan will be worked out when you bring the item in, including how much you’d get for the item and what the conditions of the loan are—such as any interest rates or how long you have to pay it off before you can have the item back later.
Be sure to keep your receipt, as this will contain the details of the loan and is often the only way that you can authenticate that you own the item that was pawned in the first place. The pawn store will likely remind you of this or tell you about any other policy at the time of the loan—but it’s always a good idea to keep good care of the receipt just in case.
Selling things to a pawn shop
This option will likely earn you more cash, as the pawn shop doesn’t have to hold onto it for any amount of time before they’re allowed to re-sell it later on. We recommend only selling items that you feel you can realistically part with forever, since the extra cash means you may not be able to come back and buy the item again even a day later.