With the economy still in turmoil even as the COVID-19 pandemic eases, many people are still looking for ways to get fast loans in the Temecula area. There are several options, but one of the only ways to get a loan without having to go through a credit check is to visit a pawn shop like Gems N’ Loans to sell or pawn an item. Here is how to get a fast loan in Temecula from our Temecula Gems N’ Loans location:
Selling to pawn shops
It’s true, when someone sells something to a pawn shop outright it’s not technically a loan because they’re not expected to pay the money back later. This can be a great option for anyone that has some things they know they won’t need or want in the future and simply wants to sell them for as much as they can get them for.
We try to remind our clients not to sell items that they might miss, such as heirlooms or items that have been passed down that hold sentimental value. This is because there is no guarantee that the items won’t be resold even that same day. If someone does decide that they want to sell the items, though, this is a great way to get the most for something because the store will offer more for a sale than it would for a loan.
Loaning to pawn shops
Pawn shops like Gems N’ Loans allow customers to sell an item to the store temporarily, under the guarantee that the store won’t turn around and sell the item within an agreed upon period of time. Within this period of time, the pawn shop will hold onto the item until the seller comes back to pay back the loan for the item that was held as collateral. This period can range from a few days to a few weeks or even a few months depending on the condition of the loan.
We recommend making sure to maintain any paperwork that was issued at the time of the transaction so that there is proof of ownership when it comes time to pay back the loan. This will assure the transaction goes smoothly and that our customers can get back to doing what they love.