Your local pawn shop will buy and pawn used electronics like computers, current game systems and other lightly-used electronics depending on their estimated value, working condition and the demand of the item. It’s important to note that electronics don’t typically hold their value over a certain period of time. This will be the main consideration when a pawn shop is valuing your electronics.
Pawn Shops typically look for electronics that are less than 2 years old. Dealing with outdated technology puts the transaction at too great a risk. Electronics in good shape are easier to sell than ones with flaws, which means they can get a higher loan. Because around 20% of objects brought in for pawning are not redeemed and must be sold, it’s a greater factor for the pawn shop. Electronics depreciate quickly, so there’s a higher chance you won’t be able to acquire the expected value if you want to sell. Customers may be disappointed with electronics if the iPad they brought in as collateral a year ago does not match the initial price.
Bring the item down fully complete with everything it needs to run smooth and properly.
The item is valued on the condition, if the item looks in great condition the item would be valued at the higher end of the estimator.
The item will than be tested out to ensure proper working conditions
The cashier will than explain what they can offer on the item based on its current condition
If the customer agrees on the amount, the cashier will than type up the loan and explain the terms to the customer.
1. The customer will receive a “green” copy of their loan ticket, if ticket isn’t present for payment of redemption there will be a “lost” ticket fee of $10.
2. The customer will have 90 days to come make a payment or pick up the item in loan.
3. The customer can make payments towards the principal when making their 90 day interest payment.
4. If the loan surpasses 90 days it will be entered into its grace period of 14 days and will accumulate late fees of one months interest tacked on plus $1 for every day utilized in the grace period.