Collateral Loans at Florida Pawn in South Florida
At Florida Pawn, we help residents of the community get needed cash with collateral loans. We can do loans without credit checks and after banking hours so you can get money in exchange for your valuable items. The amount of a collateral loan is based on the assessed value of a personal item you own. Bring your item and ID, and we can assess your item’s value and offer a loan off of that. You’ll get your needed cash immediately and return later to pay us back the full value plus possible interest to recover your item. If you don’t come back to repay the loan, we keep the item and nothing happens to your credit. There aren’t any penalties or late fees, and you never had to deal with a bank or credit check.Contact Us
Acceptable Items for Collateral Loans
As long as an item has resale value on the open market, we can accept a variety of items. These include jewelry, gold, diamonds, other precious metals, electronics (laptops, TVs, etc.), musical instruments, collectible items and antiques, and even cars, motorcycles, and other vehicles. You bring the item and we’ll do the research to figure out the value. When you come for a loan, bring the item and your state or federal I.D., like a passport or driver’s license. As soon as you review and agree to the terms and loan amount, you’ll sign a loan contract and receive your loan amount in cash.
Loan Policy and Procedures
No loans are under 30 days, and you’re not required to pay on or fully repay a loan within 30 days, but early prepayment plans are available at no additional cost. A loan is extended or renewed when we receive a payment. If nothing is paid, then the loan defaults and we sell the collateral item. While we possess your item, use, sale, and display of it is prohibited. Your item is safely stored in our warehouse or vault and will only be sold if you choose not to repay your loan.
Loan procedures are as follows:
- Bring in your item to be reviewed by a team member of Florida Pawn.
- Present a state or federal I.D., like a driver’s license or passport.
- Agree to an assessed loan value with the pawnbroker.
- Sign the loan contract.
- Receive your money in cash!
- We safely store your item for the agreed number of days.
- You can repay the agreed amount and pick up your item, or you can choose not to pay it and we keep your item.
The following conditions apply
- Maximum APR at 25%
- For example, monthly borrowing of $500 is a total repayment of $625
Sell Your Item or Get a Loan Today
Florida Pawn is open 6 days a week and available for collateral loans even after banking hours. As an alternative, you can also sell your item to us and collect the cash. For great prices and quality merchandise, come to either of our locations today!