There are many instances when you need to buy some tools for home improvement. Once done, you realize you won’t need them anymore. So, what do you do? You put them in the box and place them somewhere in the house. Eventually, these tools boxes gather dust and even the other stuff of the hose is placed on them. And one fine day, you forget about the tools and the toolbox altogether.
But that’s not the case all the time. Sometimes, you want to upgrade your toolbox and don’t know what to do with the old tools. In such a case, you plan to give your old tools to a friend or sell them to a nearby pawn shop. But now the question comes:
Do pawn shops do pawn for tools?
The concise answer is yes. The more detailed answer is that it depends. Most pawn shops like Pawnderosa take tools manufactured by notable brands such as Bosch, Stanley, Stihl, Dewalt, etc. these tools are high quality and last for many years, decades even.
Therefore, pawn shops don’t mind buying these tools from you. As a matter of fact, many pawn shops take old tools of big brands because they tend to become collector’s items in the future. If your tools are in this category, you can get a great deal selling these tools.
It’s not always about sales
Many people think that pawn shops are only about selling your items. But that’s not always true. Many times, people need money for something and want to borrow money against something valuable. Because some tools are of great value, pawn shops lend money and keep the tools as collateral.
This method is way better than going for a predatory loan that will cost you way more than you bargained for. Good pawn shops like Pawnderosa give you loans with good loan terms and a fair value of the power tools you bring to them.
No dip in your credit
Getting a dip in the credit is a nightmare for all borrowers. This is where pawn shops come across as a great advantage. You simply need to take your power tools to a pawn shop and get a fair value. Once done, you can return the money and take the collateral back.
In case you aren’t able to return the borrowed money, you can simply walk away. The pawn shop gets to keep the collateral, and there is no ding to your credit score at all.
Be it the lending/selling conditions of the pawn shop or your tools, conditions make a significant impact on the deal. Branded tools in great working condition will get you more price than the old, rusty ones.
That said, if you have an old power tool that works well, pawn shops may take it as a vintage item. Old tools that work well are a rare sight, and no pawn shop would like to miss the opportunity.
The Pawnderosa Edge
Pawnderosa Pawn Shop is a major pawn shop with profound experience in evaluating tools and offering a fair deal on your power tools. Get in touch with us today. Let’s talk about how we can help each other.