5 Things to do Before Visiting A Pawnbroker

9551644_s.jpgIf you’re looking to raise some instant funds but you’re not familiar with pawnbroking, you may be wondering what you need to do before visiting a Pawnbrokers.

Pawning is a simple, hassle-free service that is much easier than other methods of obtaining a loan, but there are still a few things to know about the process.


Decide how much money you wish to borrow

You don’t need to disclose with the pawnbroker the reasons why you need the loan, but if you have an idea of how much you need to borrow, a pawnbroker will work with you to try and secure the best loan possible for your needs.

Check that the pawnbroker will accept your goods

Before bringing your goods to the shop and expecting a loan, double-check that the pawnbroker accepts the items you want to pawn. Cuttings accepts gold coins, luxury watches, gold and fine jewellery; but if you are unsure, just give us a call.

Find out the cost of a loan

Before you visit a pawnbroker for a loan it’s a good idea to find out how much the interest will be, and what the contract is like. In the main, a loan from a pawnbroker is much cheaper than going to the bank or a payday loan company, so it’s good to double-check that you are not being overcharged. You can find out how much our loans cost here.

Make sure your items are in good condition

The loan agreed will depend on many factors, one of which will be the condition of the goods. If it’s old jewellery that’s been lying unused for a while, you may want to give it a clean before bringing it in to be pawned.

Know how much your goods are worth

The pawn shop staff will be able to give a value for your goods and agree a price of a loan with you accordingly. However, it is beneficial to know for yourself how much your goods are worth before you bring them in to a pawnbroker. Be aware that the loan agreed will be a percentage of the item’s value.

Remember your ID

Here at Cuttings we only require one form of ID in order to issue your loan; for some pawnbrokers it may be two forms of ID, one in the form of a utility bill. Make sure that you have this with you beforehand, so that you can guarantee your loan.

Hopefully you now have a better idea of the steps to take before visiting a pawnbroker, but if you need any more information please just get in touch!

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