We will take a look at how to get the best price when pawning electronic goods for that much needed, urgently required short-term loan.
Why pawn?
Short-term loans have never been easier to come by, but for many people the application and approval process some companies insist on takes more time than they have to get the cash they need, other companies offer the required amount of money quickly, but charge seriously high interest rates for repayment.
The answer to the problem is an option that gives you the best of both worlds; pawning goods of value.
Benefits of pawning:
Here are 3 immediate benefits:
- Ease of access: You can either visit a pawn shop in your area or travel to one that has been recommended. The other alternative is to deal with a pawnbroker that offers online pawnbroking services.
- Wide choice of accepted items: Anyone in need of quick cash should be aware that pawnbrokers will accept a wide range of items. Gold, silver, jewellrey and designer watches are extremely popular pawn items, but anything you have of value may also be accepted. Well maintained power tools, pieces of artwork, antiques, designer handbags and electronic items are things that regularly go in for pawn and meet an evaluation that is agreeable to both parties.
- Reclaim pawned items: This is a huge plus for those with temporary cash flow issues. When a price is agreed between the customer and pawnshop an official agreement is signed. This clearly lists the item(s) in question, proof of identity, the date of transaction and the amount of money given against the goods in question. This agreement also states that as long as the amount of cash received plus the interest rate offered by the pawnbroker is repaid the goods are returned. Repayment periods are usually 6 months, but this can be extended in certain circumstances.
Electronic goods:
Those looking for much needed cash should always bear in mind that electronic items are widely accepted by pawnbrokers. Such things as laptops, portable devices, mobile telephones, Xboxes, televisions and high-quality sound systems are well received. That being said, it is important to get the best price possible for them.
Here are 3 quick tips that will help you achieve this.
- Presentable: There is no need to go overboard on cleaning items but it is to your advantage to make sure that the item in question is cleaned before arriving at the pawnbrokers. First impressions do count!
- Working condition: To achieve a decent value the item in question should be in working order. This means if it is as computer, tablet or smartphone it should be charged and the power unit should be present and working. Be prepared to explain how the equipment works and demonstrate its major features while in discussion with the pawnbroker.
- Accessories: Do your best to dig out any related accessories such as cables, remote controls, headphones and instruction manuals. Once again, the more complete the package the better the bargaining power.
Set realistic expectations:
The price offered by the pawnbroker will generally be lower than if you sold the items outright. This is realistic because the pawnbroker has a business to run and a risk to take. That risk relates to customers who do not return to redeem goods and leave the broker with paid-for items they need to try and re-sell months down the line. Thankfully the vast majority of pledge are redeemed by customers and that is exactly what the pawnbroker wants.
It will pay to have an idea of second-hand value for the goods in question, but do take into account the age, condition, how many ‘models’ have superseded it and its current popularity.
In order to get the best price when pawning electronic goods, you should keep calm, be prepared for a little haggling, bear in mind that as long as the pledge and associated interest is repaid you will get your items back and follow the suggestions above.
By doing so a swift transaction can be achieved and the cash you are in urgent need of will leave the pawnbrokers in your pocket.