The cost of pawn shop loans can be high, but in some situations they can offer financial leeway.
How pawnshop loans workThe process of getting a pawnshop loanPawnbrokers assess your items just as they do for customers looking to pawn for a direct sale.
About 60% of users of pawn loans, title loans, or payday loans were turned down partially or in full for requested mainstream credit sources, according to the CFPB.
Unlike qualifications for personal loans, pawn loans don't require a credit check or information on financial assets.
Pawnshop loans can get expensive because they have higher interest rates and fees compared to traditional loans.
Persons:
you've, You'd, you'll, They're, you'd, Kate Underwood Kate Underwood Kate Underwood, www.kateunderwoodwriter.com Read
Organizations:
U.S . Department of, National Pawnbrokers Association, Consumer Financial Protection Bureau, Chevron
Locations:
Virginia Beach , Virginia, Richmond , Kentucky