Sometimes, you’re faced with a financial emergency that comes up with no warning. Confronted with the need to come up with a sum of money, quickly, most people reach for the credit cards. And while this may be a workable solution, not everyone has that option, and some would do better to not ruin their credit score. So what alternatives are there? Well, there’s a tried and true method of getting cash that’s been around forever that most people never think of…
That would be the local pawn shop. While some may think of a pawn shop as a seedy place with unethical business practices, recent media has shed some light on this industry. It works like one would expect: you bring in an item of value, and based on how much it’s worth, and how much it can potentially be sold for, you are given a cash advance for it. This gives you the option of buying your item back (as it is really the collateral for the loan) or you could just sell it outright. That means that you’ll have money, quickly.
You can pawn all sorts of items. Jewelry is what most people think of, but it’s really not limited to that. Power tools, vehicles, electronics, there’s a lot of things that are applicable.
Obviously you could get more for your items if you were to simply sell them yourself to a private buyer. But that takes time and you may not be able to wait. So this solution could potentially get you out of a real jam. I know I’ve visited my fair share of Hollywood pawn shops in times of need, and it really did work out for me in the end.