At Pawn King, we understand that you may have questions about our services and the pawning process. That’s why we’ve compiled a list of frequently asked questions to help you find the answers you need.
What is a pawn loan?
A pawn loan is a quick and easy way to borrow money without a credit check or hassle. The loan amount is based on the value of the item you pawn. We hold the item as collateral until the loan, plus any fees or interest, is paid back.
What types of items do you accept for pawn loans?
We accept a wide variety of items for pawn loans, including but not limited to jewelry, electronics, tools, and large items. If you’re unsure whether we’ll accept your item, feel free to contact us.
How do you determine the value of items?
We determine the value of items based on their current condition and market value. We use a variety of resources to assess the value, including industry knowledge, online prices, and item condition.
What happens if I can’t repay my pawn loan?
If you can’t repay your pawn loan by the end of the loan term, we can often extend or renew the loan. If you choose not to repay the loan, the pawned item will be forfeited and sold to recover the loan amount.
Can I sell my items instead of pawning them?
Yes, we also buy items outright. If you choose to sell your items, we’ll assess their value and offer you a fair price based on their current market value.
How do I start the pawning process?
To start the pawning process, simply bring the item you wish to pawn to our shop. Our friendly and knowledgeable staff will assess the item’s value and offer you a loan amount based on that value.
Do you offer pawn loans on large items?
Yes, we do offer pawn loans on large items. We have plenty of storage space, so if you can get it to us, we can likely pawn it.
What is the process for selling items at Pawn King?
Selling items at Pawn King is a straightforward process. Simply bring the item you wish to sell to our shop. Our experienced staff will assess the item’s value and offer you a fair price based on its current market value. If you agree to the price, we’ll complete the transaction and you’ll walk away with cash in hand.
Can I buy items from Pawn King?
Yes, Pawn King has a wide variety of items for sale, from jewelry and electronics to tools and large items. Our inventory is always changing, so you never know what treasures you might find. Visit our shop to browse our current selection.
What are the terms of a pawn loan?
The terms of a pawn loan can vary, but typically, a pawn loan has a term of 30 days. However, we understand that everyone’s situation is different, and we strive to work with our customers to create terms that work for them.
What happens to items that are not reclaimed from pawn loans?
Items that are not reclaimed by the end of the loan term are forfeited and sold. This allows us to recover the loan amount. It’s important to note that failing to reclaim a pawned item does not affect your credit score or your ability to get a pawn loan in the future.
What sets Pawn King apart from other pawn shops?
At Pawn King, we pride ourselves on our friendly and professional service. We strive to create a welcoming and respectful environment for all of our customers. We also offer competitive rates for our pawn loans and fair prices for the items we buy and sell.
Have More Questions? How can I contact Pawn King?
You can contact Pawn King by phone at (203) 375-4228 or visit us at our shop located at 2440 Barnum Av, Stratford, CT. We’re open from 9am to 5:30pm from Monday to Friday and from 10am to 3pm on Saturdays.
If you have more questions, don’t hesitate to contact us. We’re here to help and make the pawning, buying, and selling process as easy as possible for you.
GOLD & SILVER
We buy gold in Stratford and surrounding areas and offer lab quality results with our XRF and state of the art gold testing equipment and a Sigma Pro used for bullion. We offer the most % on spot price.
DIAMONDS
We buy quality diamonds in and offer free testing to authenticate your diamond using the 4 C's; Color, Cut, Clarity and Carat. Diamonds that are highly rated in every category will receive the most money.
PAWN
Small pawn term arrangements and as low as 35% APR on a $20,000 pawn or higher. On a 20k pawn the monthly interest would be $593.33
A customer exchanges an item as collateral for a short-term cash loan.
LARGE ITEMS
We have plenty of storage space! If you can get it here, we can pawn it. Construction equipment and large items. Auto pawn, bring your vehicle down to us with the title and any other paperwork you have with it, & your drivers license or ID. We also have Military Supplies and more.
