Top 10 Reasons Why Pawn Shops Are Important

Our Camarillo pawn shop has been open for 6 months now and our inventory of loans is growing. But a lot of people still don’t understand the value of a pawnbroker or are confused about what we do. So, in this blog post, I will give you the top 10 reasons why pawn shops are important. If you would to talk to me about pawning your gold, jewelry or other property, call me today at 805-987-0436.

What is a pawn?

At its essence, people pawn property because they need a short-term loan to help them get through a difficult time. This might include: paying credit card bills and rent or buying Christmas or birthday gifts. 

Top 10 Reasons Why Pawn Shops Are Important

But why would you get a short-term loan from a pawn shop rather than from another financial institution? There are 10 reasons why and they include:

  • Our customers often have sentimental value attached to their jewelry or other property. So instead of selling us their jewelry, they pawn it. That way, they get through a difficult time in their lives, and get their property back, all for a small fee.
  • The typical pawn loan is around $150.00. What other legal resource can you turn to for such a small loan?
  • It’s a very short-term loan. When you pawn an item, you have 120 days to come and pick the item back up. That is a much shorter term than just about any other loan on the market. You are not locked into a long and suffocating term period.
  • Get money fast – there is no long application and evaluation of your loan application. Bring us your property, we will evaluate it on the spot and make you an offer. You will not find a faster or easier way to obtain a loan.
  • Your credit score is irrelevant to a pawnbroker. No matter whether your credit score is 400 or 800, you can obtain a loan from a pawn shop because it is a collateral based loan – meaning, it is based on the item you bring us.
  • Your gold and silver is sitting in a drawer collecting dust. That jewelry has collateral value. You can use it to obtain a loan that might allow you to start a business, pay off your debt or even take a vacation.
  • If you sell your property to a pawn shop, we are required to hold the property for only 10 days. However, if you pawn your property, we hold it a minimum of 120 days. So avoid making a rash decision, pawn your property and then decide what to do.
  • Many of our clients cannot obtain traditional loans from banks for a variety of reasons. Pawn shops are thus a valuable alternative to traditional financing.
  • We are a local Camarillo pawn shop. In the era of digital banking and financing, you can come to Mills Jewelers and Loan and talk to a pawnbroker about how the process works and what your best options are.
  • No games played! Meaning, everything we do is transparent. We are required by law to disclose every fee and expense you will pay to you. In fact, we post all this information in our store and on our website.

If you are in need of a short-term loan, call me to discuss how Mills Jewelers & Loan pawn shop can help you. We are a long-time Camarillo business having first opened over 30 years ago by my father Lee. Call us at 805-987-0436 to schedule an appointment to review the property you want to pawn.

At Mills Jewelers & Loan, our goal is your happiness.