When you need fast cash but don’t know where to get it, an easy way to get the money you need is to sell your items to a pawn shop. Pawning is a simple way to put cash in your pocket when you’re in a bind, but before you pawn, you should be aware of the terms. Pawning is a loan, and the pawn shop holds your item as collateral. As long as you pay the money back, you can still keep your valuables. Whether you’re looking for fast cash or discounted watches, A Happy Pawn in Honolulu, HI, offers competitive rates and trustworthy service.

3 Things to Know Before You Pawn Your Items

1. A Fair Price May Not Equal the Original Value

Because the pawn shop is not buying your item, they will give you a loan for a fraction of the full value. This is normal, so don’t be surprised if you’re not offered as much as you want for it. Some pawn shops give better rates than others, so don’t be afraid to shop around for the best price. A reputable pawn shop will offer you the highest amount they can.

2. You’ll Have a Time Limit

When you pawn your valuables, you’ll be expected to pay back the loan with interest. The amount of time you have to pay back the loan depends on the terms of your contractual agreement. Before you pawn, make sure that you’ll be able to pay it back within this time frame.

3. Be Prepared to Pay Back Your Loan

Pawn shops want you to get the most out of your loan, but they still have to run a business. If you don’t pay back your loan in time, the pawn shop reserves the right to keep your item and sell it to compensate for the loss. Make sure you read over the terms of the contract and have a plan to pay it back.

Getting a loan from a pawn shop is easy, but make sure you know what to expect and that the terms of your loan are within your means. Get a loan from the best pawn shop—A Happy Pawn in Honolulu, HI—and get the most competitive rate in town. Call today at (808) 383-5253.