Posts made in September, 2015

2 Things You Need To Know If You’re Taking A Family Heirloom To A Pawn Shop

If you are having a financial crisis and decide to take a family heirloom to a local pawn shop to get some needed cash, you may think it is a simple process. However, first you need to do some homework so that you can get a fair deal and get your family heirloom back in the future. Here are some things to know when dealing with a pawn shop.

How Much the Heirloom is Worth

The most important thing you need to know is how much your heirloom is worth monetarily. While the pawn broker’s opinion of value is important, you need to have some idea of what the market value of the heirloom is so that you are not cheated.

How do you find out the value of an heirloom? There are a number of ways you can do this. You can have the heirloom appraised by a professional appraiser, or you can research internet auction sites and retail sites to get some idea of how much you would pay for such an item. You can also field different offers from different pawn shops in the area. Even if you are dealing with a financial emergency, don’t take the first offer you get until you find out if you can get a better one.

What the Interest Rate Will Be

If the pawn broker offers you a reasonable amount of money for your heirloom, you may be happy that you’re getting a good deal. However, you can’t be sure that you’ve got a good deal until you know how much it will cost you to get your heirloom back. Pawn shops allow you to buy back the items you’ve put up as collateral, but the price will typically have a certain amount of interest attached. If you can’t come up with the full price within a certain period of time, they will allow others to buy your family heirloom.

Therefore, it is vital that you consult a number of shops in the area to see who can offer you the lowest interest rate. Make sure you consider the entire cost of doing a transaction with a pawn shop, like Westminster Jewelry And Loan, before handing over your family heirloom.

Use the information laid out in this article to help you make the right decisions when pawning a family heirloom. Be sure to talk to the pawn broker about additional information that will affect your particular transaction, so that you can ensure you’ll be able to get the heirloom back if you want it.

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4 Benefits To Payday Loans

During your lifetime, you may find yourself struggling to pay your regular bills or to finance an emergency situation. It can be stressful and upsetting having to deal with money issues, and you may feel as if there is nothing you can do to get help. The truth is there are many options out there to help you get the money that you need. A payday loan may be an option worth considering. Take a look at the following information to better understand some of the benefits that payday loans offer.

Get Money Quickly

Depending on your individual situation, you may need money very quickly. It can be difficult to wait for your next paycheck to come if you’re dealing with an emergency or unexpected situation. The good news is that payday loans can be obtained within a matter of minutes. This gets you access to the money that you need right away so that you can have less stress. 

Easy to Qualify for These Loans

These days, many loans are extremely difficult to qualify for. If you have a checkered past or if you’ve struggled with managing your finances during your lifetime, you may not have the best record or credit. This can make it difficult to qualify for a home, auto, or other loan. If you’re looking for an option that you can likely qualify for, a payday loan may be the answer. These tend to have lower requirements in place, making it easier for more people to get the money that they need.

Few Restrictions

A big benefit to payday loans is the fact that the have very little restrictions in place as far as how the money is used. If you choose to take out an education loan or auto loan for example, you will need to use the money for specific purposes. A payday loan can allow you to get money for whatever needs you have. 

Restrictions on Interest Rates

Many states have restrictions in place for how high interest rates can get for payday loans. This can help to keep paying back your loan more affordable. Once you take out your loan, you can come up with a plan to repay the costs once you get money again.

As you can see, there are a number of benefits to using payday loans for your financial needs. If you have any questions, or if you’re ready to take out a loan, contact a payday loan company like 1st Choice Money Center today. 

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