Most people have heard of pawn shops, but many have ideas that are less than accurate on just what a pawn shop is and what we offer. The short definition – we offer short term loans based on the value of the goods that you pledge. No credit check, no wait for approval, just quick cash loans. You bring in an item to pledge for a loan, you leave the item with us, and we give you cash and a copy of the pledge contract to bring back. The original term of the loan is 90 days. If at that time you are not ready to pay out the loan, you can pay a safe keeping fee to extend the term of the loan. This can be done as many times as you wish. Most people do pick up their pledge and repay the loan, but if they do not, we in turn sell the items to recover our money.
Despite the bad rap given to pawn shops in the movies, nothing could be further from the truth! We are in fact modern lending institutions much the same as your bank, as well as a discount retailer/jewellers. You will find our premises clean and well maintained and staffed by friendly,well trained customer service people. We work very closely with the police and Fair Trading to ensure that the goods we take are legally owned. By law a record of all transaction particulars, including I.D. and serial numbers, is electronically downloaded to the N.S.W. Police Weblink every three days. This system runs an automatic check against all stolen reports lodged with N.S.W. Police.
We loan a portion of the amount that we can expect to receive if we have to sell. It depends on how well and fast different types of items sell and does not always relate directly to how much the item costs new. Yes we will take your past loan record into consideration, both the redeemed AND the unredeemed. Of course we must see and examine the item before we can quote you a loan amount.
[accordion-item title=”What ID do I need to take out a loan?”]Yes they will. We are licensed by the N.S.W. Department of Fair Trading and have undergone extensive background investigations in order to be in business. Our store is secured with state of the art dual back to base security systems and instore CCTV surveillance. In fact many clients are so comfortable with us that they pledge their jewellery and other valuables with us while they are on holiday.