Get Instant Cash from Pawn Shop Los Angeles

Get Instant Cash from Pawn Shop Los Angeles If you are in need of urgent cash or instant cash and have some valuable items with you, then the best place that you could go is the Pawn Shop Los Angeles. Perhaps it has never occurred to you to go to a pawnshop for money. And perhaps that's just as well. Many people, though, do borrow from them, and with reason. They range from hole-in-the-wall establishments to plush emporiums that lend only on jewelry at rates that compete with a bank's. For the most part, however, pawnshops are small and deal in very small loans, often only a few dollars.

Charges range from 2 percent a month all the way up to 10 percent a month, both true interest rates. A common rate would be 3 percent a month. And since the loans are not repayable in installments, those rates represent exact dollar costs: from 20 cents to 1 dollar a month, average 30 cents, for each 10 dollars owed. A Pawn Shop Los Angeles, of course, is not even remotely interested in your credit standing. All his loans are secured by items of personal property, such as jewelry or musical instruments. He ordinarily lends from 60 percent to 90 percent of the sale value of the pledge. You have the right to redeem the pledge by paying off the loan and interest within a certain time. If you don't, he sells it and gets his money. You never have to pay back a pawnshop loan if you don't want to. You don't even have to pay interest. The broker can't make you do either, for you sign nothing. But unless you do both, your pledge is forfeit.