Five Things You May Not Realize Your Local Pawn Shop May Accept As Collateral For A Loan

Finance & Money Blog

When you need to get cash in a hurry, consider getting a loan from your local pawn shop. There are some people who do not realize that pawn shops offer loans on many more things than just jewelry. The following guide walks you through a few things that you may not realize you can pawn to get a loan for the quick cash you need.


Many pawn shops offer loans on all different types of electronics. Televisions, gaming systems, radios, and computers can all be pawned for a loan. When you go to pawn any electronic device, it is important to realize that the age, condition, and demand for the item will determine how high of a loan you can get. Newer items in great condition will yield a higher loan than older items that are in less-than-perfect condition.

Musical Instruments

Musical instruments can be very valuable. You can get a loan for a guitar, drum set, or any wind instrument. Pawn shops typically do not offer pawn loans on large items, such as harps or pianos, though, because they require so much space for safe storage.


Certain pieces of artwork can be used as collateral to get a pawn loan. If you have a piece of artwork or memorabilia that is of value, the pawn broker may give you a loan based on the value of the piece. He or she may refuse to give you a loan if the piece isn't authenticated, though. It could be a risky loan because the broker will not be able to prove that the piece is real if they need to resell it later on down the road.


Power tools can often be used to get a loan, if they are in good working condition. If you have power tools that are brand new in their boxes, you will be able to get slightly more money for them than the items that have been used before.


Some pieces of furniture can be used to get loans at some pawn shops. Nice leather couches, mahogany tables, and desks with marble tops are all very valuable and can be used for collateral at pawn shops that have the room to store the items safely.

If you have a question about what items are and are not accepted as collateral for a loan at a pawn shop, you can simply ask the broker. Many shops have flyers that they hand out to customers so that you can always know what items they are and are not interested in purchasing or accepting as collateral for a loan. For more information about obtaining fast cash, contact a company like Las Vegas Finance.


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