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5 Things You Need to Know About Pawn Shops  

Are you looking for instant cash in a hassle-free way? Westchester pawn shops have your back. You don’t have to undergo the trouble of borrowing from friends, family or bank when you can approach a pawn shop. Here are the things you ought to know about pawnshops;

Pawn Shops Don’t Buy or Sell Stolen Items

One of the misconceptions that people have of pawn shops is that they deal in stolen goods. In fact, they do the exact opposite by collaborating with the local police to catch thieves. Reputable Westchester pawn shops will check the list of the stolen items against the serial numbers of the items you bring before the can buy. Before striking a deal, all items have been properly scrutinized, and the customers have to produce a government-issued IDs for security purpose.

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Pawn Shops Are Not the Last Resort

You don’t have to explain why you need money and there’s no lengthy paperwork involved when pawning. As such, pawn shops are not necessarily for those who’ve hit a financial rock bottom but anyone looking for the convenience.

Pawn Shops Are Regulated

Depending on your region, pawn shops are highly regulated businesses. Pawn shops are issued with licenses as proof they’re operating legally. Additionally, they get their financial transactions closely monitored to ensure that they comply with the regulations in the pawn industry.

Reputed Pawnbrokers Are Not Necessarily Unscrupulous

There’s no denying that some items will depreciate while others appreciate. Genuine Westchester pawnshops will give a reason why they value a product at a certain price. Besides, most reputed pawnbrokers do not take advantage of your financial emergencies.

The interest they charge is dependent on the loan, the risk to assume and duration until the loan repayment. In fact, you’ll realize that pawn shops charge a reasonable interest rate when you compare it with the payday lenders or the interest charged for an overdraft.

Pawn Shops Deal In Outdated Products

There’s this myth that pawn shops sell old items that people no longer want. That’s is far from the truth. If you visit any of the Westchester pawn shops, you’ll discover that they have a wide array of items, both vintage and new.

In a pawn shop, you’ll find the latest electronics and the rare stuff staff for a bargain. Instead of buying at the retail price, you can get the most recent tech gadgets in a pawn shop at a price below that of the retail.

Get Instant Cash at Gem Pawnbrokers

For close to seven decades, Gem Pawnbrokers has been providing New York City area residents with cash for their valuables whenever they have financial emergencies. We’re a family-owned business that guarantees integrity, quality, and exceptional services. For inquiries, call Gem Pawnbrokers 24/7 at 718-CALL GEM (225-5436).