Do you get more cash for selling an item or using it as collateral for a loan at a Van Nuys pawn shop? Every item that is inspected at a pawn shop is evaluated for it’s resale value and part of that evaluation is the time spent before it can be sold. The worth of an item may drop the longer it is in storage. If you use an item for collateral on a loan, it may sit in the vault for months before the item becomes forfeits and they can sell it. When you directly sell an item to a pawn shop they only hold onto it for a short time before it can be put on the shelf for sale. The quicker an item can be resold, the quicker a Van Nuys pawn shop can get the money they invested back. Most items that are used as collateral are reclaimed by their owner, but the shop must value the loan based on the unlikely case that they won’t. Sometimes, making payments on a pawn loan just isn’t the highest priority in your life and that’s ok. Here at Traders, if you default on your collateral loan, we don’t report you to any credit agency and you are welcome to return for business with us at any time.
At a Van Nuys pawn shop, you will receive more for a direct sale than for a collateral loan. But with the loan option, you can get the money you need now and still reclaim your item. It’s a win win! Here at Traders, we are happy to help you make the right financial decision for your needs. Our goal is to help you be happy with your choice at the end of the day.