Have you ever wondered how pawn shops are regulated? Maybe you’ve bought or sold items from a pawn shop and were curious about the nitty-gritty details when you left. Many people wonder how pawn ships are regulated, so Cash Express has created a quick guide that explains the fine print. If you’ve ever wondered about the rules and regulations that govern your local pawn shops, read on for more information.

            Pawn shops are regulated by state and local laws. In fact, most pawn shops are regulated by these laws even more tightly than you might have expected. This is because pawn shops are oftentimes viewed as entities in the financial services industry. Pawn shops are expected to comply with these rules and regulations to make sure that all business transactions are handled legally and efficiently.

            Most pawn shops have specific rules that apply to how they handle money, customer information and other transactions. In addition, pawnshops also need to ensure that all of their contracts are inspected on a regular basis by local state officials. Pawn shops are regulated so that both customers and business owners are guaranteed a safe and successful experience.

            When you think about it, the way that pawn shops operate isn’t too different from the way that other industries operate. Banks, for example, are regulated and inspected on a regular basis, as well. Because so many people use pawn shops nowadays, it’s important for the owners of these shops to remain current with all of their rules and regulations.

            Because so many people use pawnshops on a regular basis and because the pawn shop industry has garnered so much attention over the years, all of their regulations are important for operating safely and securely. If you want to find out more about your local pawn shop, Cash Express can always help you understand more.

Pawn Shops create this illusion that pawning is an easy process to snag cash quickly. Selling an item is an easy process, but the essential concept is much more complicated. When you pawn an item, you are actually taking out a loan against that belonging. The Pawnshop holds the item until you pay off the loan.

What is it exactly? It is just a fast way to borrow money. If you accept a loan, you walk away with the cash and a pawn ticket, which you’ll need to get your item back. Because you have left collateral with the lender, a pawn loan doesn’t require a credit check, bank account or co-signer. You must be 18 or older and show proof of your identity. And pawn shops are in regular contact with law enforcement to avoid dealing in stolen goods, so the shop may require proof of purchase or ownership of the item.

So is it a good idea to get a pawn shop loan in Philadelphia?

Pawnshop loans are great for those who don’t meet the requirements for a conventional loan. Their late fees also cost less compared to utility fees or a credit card payment. Another advantageous to a pawnshop loan is that you get the money quicker without the need for a credit check. Your credit score won’t change either since there are no legal requirements to repay the loan!

Now to the downsides. A small portion of pawn shop loans is actually never repaid. You need more income if you are consistently going through the cycle of borrowing, extending your lawn and then redeeming it. On top of that, the cost is enormous. On average the APR interest rate is at 36%, but if your loan is priced at $100 or more, your APR rate can be incredibly high at around 200%.

If you are looking to get cash quickly, there are plenty of other options to consider if you’re unsure about applying for a pawnshop loan. Check out other alternatives such as Payroll advance, Bill forbearance, selling, or even taking out a personal loan. Pawn shop loans are great for a lot of people. After weighing out the pros and cons, many wills leans towards looking for other options based on the cost and if you cannot pay it back on time.

Are you in need of some fast cash? Maybe you have a bill that needs to be paid or maybe you’re late on your rent. Whatever the case, if you need money fast, a pawn shop just might be the solution. At Cash Express of Philadelphia, we help customers with a wide range of requests and we can help you determine what kinds of items are most likely to sell in the shop.

For those who need money fast, we understand. You’ve probably asked your friends and your family members to help you out but come up empty-handed. In this kind of situation, a pawn shop is the perfect solution. Pawn shops buy a wide variety of items and we’ve compiled a quick list to help you get started.

Almost every pawn shop you visit will buy goods that are in local demand. This means that depending on where you are located, your pawn shop will have specific needs. For example, one pawn shop might be particularly interested in buying firearms while another pawn shop might be more interested in buying women’s handbags. The good news is that most pawn brokers will work with you if the offer is right and if you have something of value. However, the following items are almost always in demand:

• Precious metals

You’ve probably seen all the commercials telling you to bring in your gold for cash. This is because gold has almost doubled in value over the last ten years. Gold is considered the most valuable asset to ward off inflation and trading precious metals is good business for pawn shops. Other precious metals like silver and platinum are also in demand.

• Diamonds and gemstones

Do you have any diamonds or gemstones in your possession? Diamonds are always sought after at pawn shops because of their universal appeal, their scarcity and their high demand. Diamonds can’t be mass-produced at a factory, so there’s no chance of their value being decimated. Gemstones are also great for pawn shops. The demand is high and most people consider buying jewelry at a pawn shop as an alternative to an expensive department store.

• Watches

Pawn shops love to buy watches. If you have any in your home that don’t get used, consider taking them to a pawn shop to make some quick cash. Pawn shops love selling watches because they are always unique and they appeal to many different buyers. Watch brands such as Omega and Movado can often sell for $500 each. Higher-end brands like Rolex and Ulysses can sell for about $1,000.

• Firearms

There’s probably not a pawn shop around that doesn’t love selling guns. Firearms are always best-sellers at pawn shops and are some of the most lucrative items they have in stock. If you’ve got any guns collecting dust down your basement, bring them in to your local pawn shop and make a few bucks.

Have you ever wondered if there is a difference between selling and pawning? Maybe you have never stepped foot in a pawn shop and are curious about how they work. At Cash Express, we offer a huge variety of items for our customers and we’re always ready to help explain the process, too.

• Selling

Many people like selling items at pawn shops because there are no strings attached. Just like you might sell an item at a yard sale or in an online store, selling involves setting a price and then, in most cases, letting the item go to the first paying customer. Many people enjoy selling because it’s a quick and simple process. If you sell your item to a pawn shop, you aren’t expected to do anything after the transaction. Pawning, on the other hand, is a little different.

• Pawning

Most people like to think of pawning as a loan placed on collateral. Whatever item you put up for money is called the pawn. Many kinds of items can be pawned, such as precious metals, gemstones, watches, jewelry and firearms. Electronics and power tools are also popular items at most pawn shops.

Instead of selling your item outright to the pawn shop owner, in the case of pawning you borrow money against the particular item. The most money that you will likely receive on a pawned item is about 10% of its total value. Most pawns are good for between 60-90 days. The pawn shop will hold your item until you pay back the loan in full. Most pawn shops also charge interest as well as a storage fee.

Pawn shops have been around for years and if you’ve never checked one out, now might be the perfect time. At Cash Express of Philadelphia, we are always ready to help our visitors have a satisfying experience, whether it’s through buying, pawning or selling. If you want to shop for quality items at half the price of regular store prices, then check out Cash Express.

Have you always loved to decorate your home? Maybe you enjoy decorating but have the impression that it is an expensive hobby. The truth is that decorating can be a fun and affordable hobby when done the right way. At Cash Express, we know that people value their hard-earned money, which is why we have a few tips to help you decorate your home on a budget.

• Get a plan in place.

Pawn shops are great places to find home decorating materials. As the adage says, “One man’s trash is another man’s treasure.” By giving yourself a few hours to explore various pawn shops in your area, you can browse from the wide selection of items that you might not find anywhere else.

Do you want to decorate your bedroom first? Do you have a new kitchen in mind? Whatever your preference, make sure you have some sort of plan in place before you start. Prioritize what you want to purchase so that you can stay within your budget. Make a list of any furniture that you are looking for and then place them in order from most important to least important.

• Consider vintage finds.

Pawn shops always receive furniture that many people consider vintage or retro. These pieces are usually more durable than contemporary pieces. Some people like to repurpose vintage furniture finds by giving them new life with fresh paint jobs or chic embellishments. Since many vintage pieces are sought after, you can even think about selling whatever you buy for a profit further on down the road.

• Have fun with unique décor.

Buying your budget furniture form a pawn shop also has advantages because it gives you the opportunity to add some flair to your space. Purchasing unique trinkets and decorations can make your home feel like a special retreat. Look for finds such as lamps, picture frames, vases and wall art to create a fresh and inviting look in your space. All of these items can be purchased for greatly reduced prices at a pawn shop like Cash Express.

Have you ever wondered if a pawn shop had better merchandise than a yard sale? At Cash Express, we take pride in bringing the best items to Philadelphia. With convenient hours and central location, Cash Express is the premier pawn shop in the entire downtown area. We take pride in offering only the highest quality goods to all of our customers and include jewelry, electronics and antiques in our inventory.

While it might seem that yard sales are the prime place to sell and purchase used items, you might want to consider a pawn shop, instead. Pawn shops don’t just broker pawn loans. They also offer an extensive collection of merchandise to browse from. The next time you have your mind set on a yard sale, you might want to consider a pawn shop instead.

• No setup required

One of the primary benefits of using a pawn shop is that you don’t need to set anything up. Think about all of the work that goes into a yard sale. You have to wake up at the crack of dawn to set up tables, then you need to price and place your items. During the yard sale, you also have to make sure that you can answer your customers’ question and you probably need to watch for shoplifters, too.

At a pawn shop, you don’t need to worry about any of this. There’s no need to wake up in the wee hours of the morning, you don’t need to worry about displays and you also don’t need to worry about people stealing your valuables. A local pawn shop, such as Cash Express, will take al of the time and aggravation out of the entire process.

• Easier money

You can spend all night preparing for a yard sale and then only reap about $50 in profit. If you paid a local newspaper to advertise, then you need to factor in this expense, as well. At a pawn shop, you benefit from receiving instant money as long as the pawn shop that you go to believes your item has value.

• Understood value

Many people who own valuable items don’t know how much they are actually worth. At a yard sale, you might end up selling something of value for only a few dollars. When you take your belongings to a pawn shop, you stand a greater chance at gaining more profit because an industry professional’s opinion will help determine the value of whatever you’re selling.

Have you ever wondered how pawn shops determine the value of items in their shops? At Cash Express, we provide local customers with the best pawn shop experience in the Philadelphia area. We know that people are often curious about how pawn shop owners set their prices, so we’ve got a few insider facts to help explain.

Pawn shops see a wide selection of items come through their doors. Because of the volume of items that they must deal with on a daily basis, they need to consider a wide range of factors when setting their prices. Pawn shop owners take into account the condition of the item and even the circumstances of the seller when they make an appraisal.

Oftentimes, in-house, third-party brokers are consulted to help store owners make a decision about prices, yet most often, they consult with online resources and Blue Book databases to help provide them with an idea as to what the current market value is. Pawn shop owners try to be as resourceful as possible to ensure that they set fair prices for all of their goods.

Generally speaking, most pawn shops deal with a wide variety of items, such as electronics, antiques, jewelry, musical instruments, sporting goods, and watches. Many carry household tools, DVDs, video games, and watches, as well. Each kind of item has its own unique considerations, but they all have a current market value. Most pawn shop owners consider the market value, in conjunction with the condition of the item. They also consider other details like the accessories and the packaging of the item. Many pawn shop owners also consult with eBay and Craigslist to get an idea of the current market value of particular items.

Most pawn shops who sell a lot of jewelry have someone in their shop with expertise about this industry. They know how diamonds are cut, they understand how the weight of gems factors into their value and they also know what the current prices are for both silver and gold. Most pawn shops use a percentage as a guide for how they price their gold. Pawn shops usually have experts that help them handle antiques, as well.

Interestingly, pawn shop owners also have a tendency to consider each seller’s unique circumstances regarding the item at hand. For example, a pawn shop owner might place value on a particular item based on how important or sentimental it is to the seller. A shop owner might also price based on the frequency of visits from the seller.

Have you ever walked into a pawn shop and wondered if you could negotiate the price of an item that you liked? If you are curious about how pawn shops work and how you might be able to negotiate an item that you have your eye on, then Cash Express has a few tips to help get you started. Cash Express is Philadelphia’s premier pawn shop for local customers and beyond.

Whether you are buying something from a pawn shop or whether you are selling something to a pawn shop, the room for negotiation always exists. Dollar amounts are always involved with a transaction, and most pawn shop owners will do what they can to satisfy a customer’s requests, especially if it means that they can establish a long-term relationship with the visitor.

The good news is that on most occasions a pawn shop owner will negotiate on the price on an item, whether it’s an item that you want to buy off the shelf or whether it’s an item you want to sell for cash. A helpful tip to remember is that pawn shop owners are willing to be flexible, but it doesn’t mean that they appreciate over-negotiation.

Of course, everyone wants to save money whenever they can. The trick is knowing how to negotiate for something without haggling to the point that you annoy the shop owner. Many people are under the impression that pawn shop owners don’t pay anything for their items and that they can sell them for any price they desire. The truth is that pawn shop owners must pay for whatever items they bring into their shop and they try to set these items at reasonable prices for their customers.

The bottom line is that pawn shops are businesses and they aren’t going to give away their items for free. At the same time, with some respectful negotiation skills, you can expect to pay less than the sticker price for most items in a shop. It never hurts to try your negotiating skills, but it’s important to know how much you’re going to ask for an item. Don’t expect the full value and make sure that you factor in the value of the item, whether it’s one you’re trying to buy or whether it’s one you’re trying to sell.

Negotiating an offer that is fair is the name of the game. Inspect the item in question carefully and then decide if the price is already fair. Most pawn shops try to price items to sell quickly, so many of the prices are already reasonable. If you still feel as though you have good grounds for negotiating, then give it a try. What do you have to lose?

            Are you interested in making some purchases but don’t want to pay the prices that you’d find in department stores? Cash Express of Philadelphia gives you the perfect alternative. Our convenient pawn shop is located right in the heart of Philadelphia and boasts a huge variety of high-end watches, jewelry, antiques, diamonds, precious metals, electronics and more.

            For those who want to buy items that are usually expensive when bought in stores, Cash Express offers the perfect option. We guarantee that as soon as you step inside our store, you’ll be impressed with he wide variety of unique items that we have for sale. Our inventory is constantly changing, too. This means that you always have a new opportunity to find something great when you pay us a visit.

            Our friendly store associates are always excited to provide you with the most efficient service possible and we always enjoy helping our customers find a great deal on an item that they might have purchased elsewhere for twice the amount of money. If you want to save money on name brand items, then stop in and find out why we’re the pawn shop leader of Philadelphia and beyond.

            Shopping at Cash Express is always made simple and enjoyable. Our store associates want you to leave feeling completely satisfied with your purchase. If you have a specific item that you’re trying to find, we can help you try to find it inside our store. Cash Express always works hard to ensure that all of our customers have a beneficial experience inside our store.

            If you want to find great brand name items for less, then stop in to Cash Express and find out how we can be of assistance. We offer convenient hours and a great location, so you can feel confident in your browsing. At Cash Express, we take customer service to an entirely new level and we always do our best to make you happy.

            Are you interested in making some extra money? Maybe you’ve noticed that you have a lot of unused or unwanted jewelry inside your home. At Cash Express of Philadelphia, we help each one of our customers find new and helpful ways to trade in items that they no longer have need or use for.

            If you’ve been curious about how to sell you jewelry at a pawn shop, then now is the time to find out to easy it really is. At Cash Express, we’ll walk you through the entire process and explain any questions that you have along the way. As the leading pawn shop in the Philadelphia area, Cash Express is always ready to help people buy or sell a wide range of items.

            One of the first steps when attempting to sell your jewelry is to get a sense of how much it’s worth. When dealing with gold, there are a few ways that you can do this. For gold pieces, check for a stamp that indicates if its 24K, 18K or 14K. These markings indicate the purity of your gold. Separate your pieces and then weight them. You’ll need to find out how much gold costs by checking the price at the World Gold Council website.

            If you decide to take your gold straight to Cash Express, we can have them evaluated, as well. Our professional store associates are always transparent about the weight and the value of your gold. We will then make an offer on the pieces. At Cash Express, we feel strongly that clients should be empowered when they sell or buy gold and jewelry. We abide by a high code of ethics and do our best to create a meaningful experience for all of our customers.

            If you have other kinds of jewelry that you would like to sell, you can have these appraised, as well. Online searches often provide current prices based on what the pieces are worth. If you have decided that you’d like to simply browse our shop to make purchases, then stop in any time and have a look at our current selection.