Visiting your local pawn shop is a fast, easy way to get cash when you need it. Whether you have clutter to clear out, an item to buy or sell, or are looking for a loan, a pawn broker can help. Learn more about what they can do for you with the following frequently asked questions.

6 Answers to Your Pawning Questions

How does a pawn shop work?

You may think of a pawn shop as a place to buy and sell items at affordable prices, but their primary service is providing quick, convenient loans. A pawn broker will evaluate your item, then offer a loan based on a percentage of its estimated cash value. You’ll pay interest on the loan until it’s settled in full.

Can you trust a pawn broker?

Contrary to popular myths, pawn shops are secure places to do business. They’re carefully regulated by laws and statutes at every level of government. For additional peace of mind, check out if your local shop is affiliated with the Better Business Bureau® and the National Pawnbrokers Association®.

What is a pawn ticket?

Your broker gives you a clear, detailed summary of the loan transaction in a pawn ticket. After you provide an ID and an item, the ticket documents all information about your transaction, including loan terms, so hold onto it. Snap photos of it with your phone to keep an extra copy.

How do you pay back a loan?

You can repay the loan in cash, including all applicable fees and interest, before the deadline. Most shops allow one to four months for repayment. Or you can let the shop keep your item, which frees you of all responsibility for payment.

How much will you pay in interest?

Your interest rate can vary based on individual state regulations and shop terms. Generally, it’s easiest to consider the total finance charge you’ll pay for the entire transaction, which usually ranges from 5–25% of the loan value monthly.

What items are pawn brokers looking for?

To maximize your chances of getting a deal, bring in jewelry, coins, musical instruments, and power tools. They’re always in demand. Firearms are also sought after, but additional regulations may apply.

If you’re looking for a fast, safe way to get extra cash, head to A Happy Pawn in Honolulu, HI. The Better Business Bureau®-accredited pawn shop has served all of Oahu with sales and loan services since 1988. Call them today at (808) 383-5253 to buy, sell, or get a loan. For more details on the items they accept, visit them online.