Q. What is the percentage rate on your 90 day loans?

Answer: Our loans are on 3%. So for example on a $100 you will pay $3 in interest a month. For each item there is a $3 storage fee.

Q. Is there a limit or cap to the total amount I can borrow from 8 Mile Jewelry & Loan?

The only limit is the amount we will loan on a single item of collateral. When you need cash beyond the single item limit, you can offer multiple items for collateral. Given the total value and number of items, you can borrow thousands when you need it.

Q. I do not want to lose my pawned items. How long do I have to redeem them?

There is a 14 day (grace) period past your maturity date in which to redeem your items. To redeem your property, present your pawn ticket and repay the loan plus the up-to-date interest.

If the loan is still within the initial 14 day grace period, you may request an extension. Bring your pawn ticket and pay the interest due to extend your loan

Q. If I do not redeem, pay interest or extend within the grace period, what happens?

By Michigan State Law, your items become the legal property of the lender (pawn broker).

Q. Can I just sell my things?

Of course. You bring it. We’ll buy it.

Q. What can I pawn?

Just about anything of value – jewelry, gold, power tools, musical instruments, electronics, rifles, shotguns, any type of properties, high end vehicles and more. (Yes, we take rifles and shotguns.) If you are not sure feel free to give us a call.

Q. Can I have more than one loan?

Yes. If you’ve got things to pawn, we’ll give you as many loans as you want.


Out of town, Busy with life, Stuck at the job No problem! For your convenience download our Mobile Pawn app today to make payment on anything at anytime!

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