How Does Pawnbroking Work? - Premier Pawnbrokers
Find out how Pawnbroking works with The Pawnbroker. Learn how the Pawnbroker allows you to pawn gold and diamonds, to luxury cars, mobile devices and more.
how does pawnbroking work, how does pawn broking work, pawn broking, how does pawnbroker work, pawnbroker, pawn broker
13561
page-template,page-template-full_width,page-template-full_width-php,page,page-id-13561,woocommerce-no-js,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,columns-4,qode-child-theme-ver-1.0.0,qode-theme-ver-16.8,qode-theme-bridge,qode_header_in_grid,wpb-js-composer js-comp-ver-5.5.2,vc_responsive
 

How Does Pawnbroking Work?

Pawnbroking shops have been around for a long time possibly dating back thousands of years.  The basic idea behind any pawnshop is to provide quick cash loans.

  • 01 PAWNING

    You bring in something you own and give it to the pawnbroker as collateral for a loan.

  • 02 COLLATERAL

    The pawnbroker loans you money against that collateral.

  • 03 REPAYMENTS

    When you repay the loan plus a redemption fee you get your collateral back.

  • 04 OWNERSHIP

    If you don’t repay the loan the pawnbroker has the right to sell the collateral to recoup his money and the redemption fee