Five Reasons to Reconsider Pawning

Pawning isn’t for everyone. What are good reasons for not going through with a pawn store loan?

We have you covered.

Here are five simple questions to think over before you commit to pawning an item for a loan. They may be simple, but they’re enough to ensure you know what you’re doing before stepping foot into the pawn shop.

Can You Part with It?

When you pawn an item for a loan, there is always the possibility you’ll never get it back.

Some people feel the need to get a pawn loan because of unexpected expenses, while they’re between paychecks, or because of a gap in their income. Keep in mind that loans come with interest, so if you pawn something for a $200 loan and you know you’ll have an extra $200 at the end of the month to pay off the loan, understand that you won’t be paying off the whole loan.

If the item has a lot of sentimental worth and you have other items you can pawn, consider pawning those instead – or reconsidering pawning altogether. The last thing you want is to lose a family wedding ring because you thought you could pay back the loan in time.

Is It Worth Enough?

Looking up the worth of an item before you go to pawn it is integral to the process if you want to come out satisfied with your loan. If you need $100, pawning a glass terrarium you bought for $80 isn’t likely to cut it as collateral. When it comes to the loan, you need to find something of equal or greater value to the money you want to borrow.

Are You Expecting Money?

If your goal is to pay off the loan to get your collateral back, make sure you have money coming in before the time your item is forfeit. Whether it’s an upcoming paycheck or collecting money a friend owes you, making sure you know you’ll have the money in the future can go a long way to ensure you don’t lose your item.

Can You Prove Authenticity?

If you’re going to pawn a historic or antique piece, you’ll be at a disadvantage to argue for a good deal unless you can prove what it is. This is extremely important for pieces of art like paintings or sculptures. Proving it was made by the actual artist as well that you bought or inherited it can go a long way in getting you the best loan.

Do You Want to Sell or Get It Back?

You can sell an item at a pawn shop instead of using the item as collateral for a loan, and if you’re not interested in getting the item back, it can be better to outright sell than to opt for the loan as you could possibly get more money for selling.


If you’ve taken into consideration all five of these ideas and still decided to pawn an item at a pawnshop, by all means, you should do it. Sometimes things get tight and a pawn shop loan is the only available recourse to help you and your needs.


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