Pawn Frequently Asked Questions
How does a pawn work?
Pawns are an easy way to borrow money without needing a credit score. Pawn amounts are based on an item's value as collateral. Pawnderosa offers a 30 day pawn with a 60 day grace period. This means we will hold your items for 90 days guaranteed!
Pawnderosa loans on almost all items of value. These items often include jewelry, firearms, electronics, tools, law equipment, and more...
What is an extension?
If you are unable to redeem a pawn before the due date, an extension may be necessary. Paying the storage charge on your pawn is considered an extension. An extension will push back the due date on and give you more time to redeem the item.
How do you determine an item’s worth?
A Pawnderosa employee will research the value of an item. This staff member will reference reliable online retailers (Walmart, Lowes) to determine the price selling new for the item. Then, the employee will adjust for the age condition of the item. A quote will be given based on the available information of your item.
How do you determine the value of jewelry?
Pawnderosa will first test the jewelry through its gold and diamond testers. Then, a staff member will determine the weight and karat/ carat of the jewelry. Based on current metal prices, a Pawnderosa employee will determine a price to offer for an item. Pawnderosa accepts gold an diamond jewelry.
Is my collateral safe while in pawn?
All items are held in storage until the customer is ready to pick it up. While in storage, these items are secure and insured fully until redeemed. Your item will not be used while it is in storage.