Get Cash - Pawn
A pawn is a secured loan, with items of personal property used as collateral. The items pawned are called pledges or pawns, or simply the collateral. While many items can be pawned, Quik Pawn Shop typically accepts jewelry (even if it is damaged), firearms, musical instruments, home audio equipment, computers, video game systems, televisions, cameras, power tools, ATV’s, motorcycles and other relatively valuable items as collateral.
When an item is pawned for a loan, within 30 days, the pawner may redeem it for the amount of the loan plus the agreed-upon amount of interest. The amount of time, and rate of interest, is governed by state law and Quik Pawn Shop policies. If the loan is not repaid (or extended) within 60 days, the pawned item will be offered for sale to other customers. Unlike other lenders, Quik Pawn Shop does not report the defaulted loan on your credit report since we have physical possession of the item and may recoup the loan value through outright sale of the item. This is also why no credit check is necessary.
To recap, here’s a list of collateral items that we currently accept:
- Jewelry (even damaged pieces)
- ATV’s and motorcycles
- Musical Equipment
- Or anything of value!
How Pawn Loans work?
- Bring us your items.
Pledge any item of value to a Quik Pawn near you.
- Get paid top dollar.
Quik Pawn will inspect your merchandise and make an offer. We’ll give you cash and hold your item as collateral.
- Repay the loan and get your items back.
Pay us back within 30 days to pick up your merchandise, or if you need longer, get an extension on your pawn loan in Alabama for an extra 30 days. You may also decide to surrender your collateral to be sold, if you wish to no longer have an obligation to repay the loan.
Here’s What You’ll Need to Get a Pawn Loan:
- The item you want Quik Pawn to hold as collateral.
- A valid, state or government-issued photo ID.
Got more questions? We’ve got answers! Click here for our Frequently Asked Questions or call us at 855-402-PAWN (7296).