Pawn Shop Moline Il (2024)

FAQs

What's the most a pawn shop will pay? ›

The loan amount that a pawnbroker offers will be based on the item's assessed resale value, often much lower than its original purchase price. If the item is approved, a lender will typically offer 25% – 60% of the resale value.

A pawn store will generally offer more money if you're selling your item instead of pawning it. However, it does depend on a few factors. For instance, if you're selling an in-demand item, such as gold jewelry or a high-end watch, the pawnbroker is more likely to offer you a higher cash value.

At a pawn shop, you leave your property and, in return, the pawnbroker typically lends you approximately 25% to 60% of the item's resale value. The most commonly pawned items are jewelry, electronic and photography equipment, musical instruments, and firearms. The average amount of a pawn shop loan is about $75–$100.

Master the Art of Haggling: Be Confident but Courteous

Haggling is an expected part of the pawn shop experience. Approach it with confidence, but maintain a respectful and courteous demeanor. Establish a rapport with the pawnbroker; a positive interaction can often lead to more flexible negotiation.

Pawn shops that buy TVs will also pay more for a bigger screen. If your TV's screen is less than 26 inches, you'd be lucky to get over $50 for it. If your screen is greater than 42 inches, though, a pawnbroker like GEM might offer you over $200, provided the TV is one of the brands mentioned above.

Pawn loans don't affect credit score. Pawn loans will never, ever impact your credit. If you fail to pay back your loan, then the pawn shop will simply reclaim your item. This means you don't have to worry about wrecking your credit if something comes up and you can't keep up with the payments.

Pawn shops do buy broken items. However, each shop decides which items they'll accept and how much they're willing to pay. Some items, like fine jewelry, still hold significant value with damage. If they can't repair it, pawn shops can resell the precious metal or gemstones.

What are the disadvantages of a pawnshop loan? Pawnshop loans have high interest rates and fees, which can make them difficult to pay back. Additionally, the amount of the loan is typically lower than the value of the collateral.

With pawn shop loans, you stand to lose the item you left with the pawnbroker if you default on your loan. Depending on what you put up for collateral, that could be a big loss for you.

How much will a pawn shop give you for a tablet? ›

You can expect to receive anywhere from $50-$300 for your tablet, depending on the brand, model, and quality of your device: 4th Generation iPad – $50-$150.

In general, you can expect to receive about half of your item's market value in your loan. However, this depends on the item. Items that are regularly pawned, yet don't have a lot of buyers will lower the offer price. In those cases, you will receive less than 50% of the market value.

Research your item(s).

Before you hand over your valuables to pawn or sell at a pawn shop, it's important to know the actual value of that item. Pawn shop proprietors will typically try to cut you down to the lowest possible price when you pawn or sell an item, so you'll need to know the value of each item beforehand.

Across the board, jewelry (authentic, real jewelry - not costume jewelry) generally yields the most amount of cash. This is because jewelry is made from precious metals, such as gold and platinum, and often incorporates diamonds and other precious gemstones. Jewelry also tends to hold its value over long periods.

Shops know they can sell tools faster (and for more money) when they are trusted brands. Bosch, DeWalt, Milwaukee, Stihl, and Snap-On will earn you the most. Usually, pawn shops will pay anywhere from $30-$200 for working tools, but you can expect that price to increase if you have any of these top performing brands.