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.
FAQ
Most things of value. The most popular items pledged include gold and diamond jewellery, gold coins, flat screen TV’s, laptop computers, late model gaming consoles and games, ipods, musical instruments, digital cameras, HDD video cameras, quality tools (makes such as Makita, Hitachi,Panasonic ) collectable items, genuine antiques, the list goes on and on. Obviously all electronic and mechanical items must be in good working order ( and not too old).
Yes, and you may get a slightly higher amount by selling.
You pay back the loan with an interest charge of 20% per month or any part of a month. There are NO other charges. Though we don’t require regular payments, we do recommend this as a way of minimizing your final payout figure. If you pay all the interest owing and part of your principal, the monthly interest charge is only applied to the remaining principal.
That depends. The amount we can lend you is always dependant on how much we can sell the item for, should it not be redeemed. Of course our first priority is to have you redeem the goods.
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.
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.
An Australian driver’s license with your current address is all that is required . If you don’t have a driver’s license a combination of three other documents will do. Jointly they must show your name, current address, date of birth and signature. At least one must be an Australian government document.
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.
You have 90 days in which to repay the loan and retrieve your items. The interest rate is 20% per month. That’s it. No extra storage charges , application fee etc as are often incurred with a loan from a payday lender. If you feel you will not be able to settle the loan within the 3 months, simply contact us or just come in to arrange payment of an extension fee to extend the term of the loan. You can extend your loan as many times as you wish. We are always happy to discuss your situation and make flexible arrangements to make your loan repayment as easy as possible.
In short, as many as you want and as often as you want! We have many regular customers that pawn weekly and others we might see once a year. You can bring in as many different items as you want, or you can bring in the same item many times.
We can put multiple items on one pledge or we can split them up onto several tickets if you want to pick them up separately.
No! Once a loan is written, we CANNOT change the amount of the loan. You can redeem your item and we can write a new loan for the higher amount, less the interest already accrued and the original amount given, at that time. And no, you do not need to pay us before we pay you back; we will just deduct the interest from the difference.
In this case we are happy for you to pay an extension fee to extend the term of the loan. You may extend for up to 3 months and can extend the loan as many times as you wish. If you are out of town or cannot come in, you can have someone else pay the extension fee for you.
Yes, as long as you give that person the original green pledge ticket issued to you. They will also need to have their ID. If you know that you may want someone else to pick up the loan when you make it, please inform the loans officer at that time.
Please do not rely on us to send out reminders. They are your valuables that are pledged and it is your responsibility to keep track of the loan expiry date, which is clearly shown on the pledge ticket.
If your pledge has not been sold, you are still welcome to redeem it. Our first priority is to have the customer redeem the goods. We want you to walk away happy and hope that next time you are short of funds, it is us that you turn to.
If you have lost your ticket, you must present your full I.D. to redeem your pledge.
No. Loans can only be redeemed using either cash or a savings card.