Margate Branch

01843 223808

Ramsgate Branch

01843 584488

Home > Blog > The Benefits of Pawning for Instant Cash

The Benefits of Pawning for Instant Cash

Posted by cuttingsjewellers on April 10, 2014

Benefits of Pawning1.jpgPawnbroking has been established for thousands of years (long before other loan companies existed), and remains to be a popular option for people wanting to raise funds quickly.

There are many benefits to using a reputable pawnbroker for borrowing money, from the financial advantages to the way you are treated during the process.

If you are in need of a quick loan and you're considering the options, read on to find out more about the benefits of pawning your jewellery, watch or gold.

Hassle Free

One of the main reasons why people choose to pawn is the ease of the process; you can simply walk into a shop with your item and agree your loan straight away. Other loan companies and banks require credit checks before they decide whether to loan you any money, but this is not the case with pawnbroking. All you need to bring is a form of ID, along with the item you’d like to pawn.

Quick Cash

We have a lot of people ask us about the time scale when it comes to receiving your loan. The answer is simple: as soon as we've agreed your loan, we can transfer the funds into your account or give you the cash right away. So if you've had an unexpected bill that needs paying, pawning is the ideal solution.

Low Interest Rates

In most cases, the cost of a loan from a pawnbroker is considerably cheaper than pay-day lenders due to the low interest rates. Pay-day lenders tend to charge interest per day, whereas pawnbrokers are more likely to charge on a monthly basis. At Cuttings we offer a 6 month contract, but you can repay the loan at any time and only pay the interest on the amount of time you've had the loan. Find out more about the cost of our loans here.

Peace of Mind

The pawn shop will keep your valuables as collateral, meaning that you do not need to worry about paying penalties if you cannot pay your loan back within the agreed time. All you need to do is pay the interest to extend your loan, and if in the unlikely event that you cannot pay your loan back, the shop gets to keep your item.

Friendly Service

Whether you take your item into a shop or you find it easier to send it to us, you'll get a friendly and personalised service at Cuttings. It’s not like getting a loan from a nationwide company, where you'll talk to a different person every time you pick up the phone – we are a family business with a small team dedicated to making our customers feel welcomed and valued.

Here at Cuttings we've been offering safe and secure loans for more than 100 years, and continue to serve a wide range of customers from across Kent. For more information, have a browse of our website, give us a call or visit us in our Ramsgate or Margate shops!