How Does Pawnbroking Work? - Premier Pawnbrokers
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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 via a pledge.

  • 01 PAWNING

    You bring in an item of value you own and pass to the pawnbroker as collateral to pawn

  • 02 COLLATERAL

    A Pawnbroker then pledges money against that collateral.

  • 03 REPAYMENTS

    Once you redeem and pay the redemption fee your collateral is passed back to you.

  • 04 OWNERSHIP

    If you don't redeem (collect) the pawnbroker has a legal right to sell the collateral to recoup his money and redemption fee, if there is a surplus this is returned to you. However, Premier will work with its clients in getting the collateral back to them