Need a cash loan in a flash? Banks and other places that need to look at your credit score to determine whether or not you qualify for a cash loan might take a lot of time, if you get approved at all. Pawn shops around Oceanside like Gems & Loans allow for quick and pain-free cash loans with no questions asked. They don’t look at your credit score, and offer you a fair price on items like old jewelry and appliances you’re ready to part with. There are a couple of ways to get cash for your items right away, and some details you need to know about taking out a cash loan through a pawn shop that we’ve listed below:
There are two types of cashout options through pawn shops like Gems & Loans in Oceanside. The first is a collateral loan which will let you bring in your items and have them held for collateral at a Gems & Loans location. These loans will often garner you a fraction of the value of the item, but the benefit is that you have the guaranteed option to buy your item back once you pay your loan off with interest before a certain date. In this situation, do NOT lose your pawn ticket, as it will be the only way for you to keep track of valuable information like your transaction number, interest rate, and time limit. Pawn shops also depend on this ticket, so losing it could mean losing your item forever.
The second type of cashout option you have is to sell your item outright. This option will likely mean that you get more money for your belongings, but it comes with the risk of not being able to buy it back later on if you depend on getting it back. Choose this option if you don’t necessarily care about being able to get your item back, but be wary that your item might not be there if you decide you want to buy it back after a year or so—even a month, depending on the item.
Beyond jewelry, pawn shops will take virtually any other item of significant value as long as it’s in decent condition. Jewelry might be able to be sold in need of repair because pawn shops can often repair it and then sell it, but you’re going to get less for it than you would if it were in perfect condition. Other things, like video game consoles or DVD’s, will need to be in decent condition in order for you to get much money for them at all.