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?

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

  • 01 PAWNING

    You bring in an item of value you own and pass to the pawnbroker as collateral for a loan.

  • 02 COLLATERAL

    A Pawnbroker then loans you money against that collateral.

  • 03 REPAYMENTS

    Once you repay the loan plus a redemption fee your collateral is passed back to you.

  • 04 OWNERSHIP

    If you dont redeem the loan (collect) the pawnbroker has a legal right to sell the collateral to recoup his money and redemption fee, any surplus of the sale is returned to you. However, Premier will work with its clients in getting the collateral back to them