HOW DOES A PAWN WORK?
A pawn is a collateral loan. You leave an item as collateral, we offer a loan amount, and you up to 6 months and a 10-day grace period to repay your loan amount, with additional interest and fees and recover your item. If you need more time to pay, you can renew the loan as many times as you need.
HOW DO WE DETERMINE THE VALUE OF AN ITEM?
We determine the value by current precious metal or diamond wholesale market prices.The value of other items is determined with their average online sale price and in-store salability.
WHAT HAPPENS IF I DON’T REPAY MY LOAN?
At CashCo, we do our best to inform you when your pawns are about to expire. If you think you may not be able to make the payment at that time, you have the option to renew your loan. In case you don’t want to make the payment and/or recover the item, you must do nothing else. If you don’t arrange for a pawn renewal, the pawn shop will take legal possession of the item at the end of your 10-day grace period.
HOW MUCH TIME DO I HAVE TO PICK UP MY ITEM?
We offer pawn loan options of 4, 5, and 6-months, and they all come with a 10-day grace period.
WHAT IF I CAN’T PAY TO GET MY ITEM OUT OF PAWN?
You have the option to just pay the interest charges and renew your loan for another term. Visit either of our locations for more information about renewals.
WILL MY ITEM BE PLACED OUT FOR SALE WHEN I PAWN IT?
No. Your item can only be sold if the loan principle, interest charges, and applicable fees are not paid in time.
DO I NEED TO HAVE GOOD CREDIT TO PAWN SOMETHING AND GET A LOAN?
No credit check is required. Pawn loans are backed by the collateral you bring, not your credit history. And all your transactions are confidential.
WHAT TYPE OF ITEMS CAN I PAWN?
To name a few, you can borrow money against gold, watches, jewelry, designer handbags, electronics, the latest devices, sporting equipment and power tools. Generally, if your item has a resale value we can offer a loan against it.
IS MY INFORMATION SAFE WHEN I PAWN SOMETHING?
Yes. Pawn shops are regulated on a local, state, and federal level. It is our responsibility to keep your information both safe and confidential.
HOW MUCH IS THE INTEREST?
Pawn shops in California are regulated by the Department of Justice and your local law enforcement which caps the interest on pawn loans at 3% per month. Additional storage and writing fees may apply. The monthly interest rate could be lower depending on the amount you borrow and the time you choose, but is usually lower than payday lenders, personal loans, bank overdraft fees, and late credit card fees. We strive to keep our interest rates low and competitive to make pawning with us a smart and affordable option when you need quick cash.
HOW MUCH MONEY CAN I BORROW?
Borrow $100, $1000, or $10,000. The amount loaned is a percentage of the value of the item your bring as collateral.
CAN YOU PAWN OR SELL BROKEN JEWELRY?
Yes. Precious metals, like gold, platinum, and silver, are still worth something depending on the market value of the metal.
CAN SOMEONE ELSE PAY MY LOAN AND PICK UP MY ITEM?
You can send someone to renew your loan. However, only the original pledgee can pick up the merchandise.
CAN I USE A DEBIT CARD TO PAY FOR MY PAWN?
Yes. We accept debit cards for payments on pawn loans. Also, you can use a credit or debit card when making a purchase at one of our two San Diego locations or our online store.
WILL I BE NOTIFIED MY LOAN IS ABOUT TO EXPIRE?
Yes. We will send out a text or mail notice when the contract is over and you are in your grace period.
IS THERE A LIMIT ON HOW MUCH I CAN BORROW?
There is no limit. Loans are based on a percentage of the collateral you bring. Some restrictions apply. See store for details.