Monday, January 20 2020
Should I Pawn or Sell My Items?
When you’re looking for some fast cash, a pawn shop like Cash Express should be at the front of your mind. At pawn shops, you can quickly sell your items for cash or pawn them for a loan.
But you might be wondering: which one is better? Should you pawn your items for a loan, or sell them outright?
The answer depends on a few factors.
Before we get to which avenue works best for you, let’s distinguish pawning from selling.
What is Pawning?
Pawning is the act of taking out a loan from a pawn shop using one of your possessions as collateral. The pawnbroker evaluates your item and extends you a loan based on what they determine to be the item’s worth.
The pawnbroker then holds onto your item until you pay back the loan principal plus interest and fees. If you don’t pay the loan back, the pawnbroker takes possession of your item.
What is Selling?
Selling at a pawn shop is simpler. You bring in your item, then negotiate with the pawnbroker until you agree on a price. Once you hand off the item to the pawnbroker, you get your cash and have no further obligations to the shop.
Pawning vs. Selling
Consider the following factors when you’re deciding between pawning and selling your item.
Does the item you plan on using to get cash hold sentimental value? For example, is it a family heirloom? You’d want to pawn it so you can get it back.
If the item isn’t something of sentimental value, say an old computer, then selling it would make more sense.
Item’s Potential to Gain Value
You should also consider if the item you’re using for cash will increase in value. For example, let’s say you have a nice watch with no sentimental value to you, but it might increase in value in the future.
In this case, pawning is the better option. You can use the watch several times to get loans when you need them; plus, as the item becomes more valuable, your loan potential increases.
But again, if the item is something that won’t be worth much in the future (such as old electronics), selling it will maximize the cash you earn.
Will Pawning or Selling Get You More Money?
Pawning an item gets you more money. See, pawn loans are less risky to pawnbrokers because they have a chance of getting their money back plus additional interest and fees.
In other words, there’s less of a chance that the pawnbroker will have to find a buyer for your item.
Once again, this makes pawning a better method for your more valuable items (watches, jewelry), as you’ll get quite a lot of cash.
But if you’re looking more to declutter your home and get some quick cash, selling would be the better route.
Whether you need an easy loan or some quick cash, Cash Express wants your items! Bring your items into our shop and we’ll get you the cash you need fast.
Tuesday, January 14 2020
Thinking about pawning some items for fast cash?
Pawn shops accept a wide variety of items. The value of these items varies by the pawn shop’s location; however, some items will net you a high price at any pawn shop.
Pawn one of the following items at your local pawn shop to get the most money.
Precious metal is a pawn shop favorite. Gold can get you a good price, but some precious metals pay even more.
Aside from being worth a lot, precious metals can increase in value over time. You may be able to obtain a lot of money from pawnbrokers by pawning your gold or silver.
Gems are another pawnbroker favorite. Diamonds in particular can make you a lot of money; in fact, they are one of the most common items purchase by pawnbrokers due to demand and scarcity.
Bring in the right diamond, and you could make a few thousand fast.
Tablets / Smartphones / Laptops
Tablets, smartphones, and laptops are the best electronic devices to pawn at a pawn shop. Smartphones and tablets can net you a few hundred dollars, while laptops can earn you even more.
Newer electronics that work well will make the most money for obvious reasons. However, selling your old electronics to pawn shops is a fast way to declutter your house and make a few bucks.
Blue collar working people often can’t afford brand new power tools (which can cost hundreds), so they often turn to pawn shops for affordable used models.
You could easily get $50 - $150 per power tool at a pawn shop. Make sure to check it’s condition and clean it before bringing it to your local pawn shop.
Firearms hold their value quite well in pawn shops. If you have firearms you don’t use, pawning one can bring in an easy few hundred dollars.
A few things to do when pawning firearms:
Collectible Coins / Currency
Collectible coins and currencies — such as silver dollars, proof sets, American Eagle coins, and unique paper money — tend to exceed their face value at pawnshops.
Dig through your pockets, coin jar, and other coin storage areas. There could be a lot of money sitting in these areas in the form of collectible coins/currencies.
Watches are valuable for the materials/labor/craftsmanship, but also for the psychological effect of a nice timepiece.
To snag the highest price, you need a valuable brand and proof of the watch’s authenticity. With the right paperwork to prove authenticity, luxury brands like Rolex or Ulysse can fetch at least $1,000, if not more.
Sporting goods are great items to pawn because they can be easier to part with. Chances are you have old snowboard, skateboard, gold clubs, bicycles, or other sporting goods you never use.
Bring these into a pawn shop; you could collect $100 per sporting good.
Do you need some quick cash? If you have any of the above items, bring them into the Cash Express pawn shop in Philadelphia. We’re looking forward to seeing you here!
Saturday, December 21 2019
The holiday season is one of joy and giving, but it’s also one of stress. Few enjoy fighting through the ice and snow, battling it out among retail store aisles, praying that the items they need are still in stock, and spending wads of cash hoping that they bought the right gifts for the right people.
Whether you shop at the biggest retail chains or a smaller store only in your geographic area, you probably go through this struggle every year.
But what if you could skip the lines and find the perfect gift for everyone close to you, all while saving money?
Just look to your local pawn shop. Read below to learn why you should shop for gifts at pawn shops instead of retails stores.
Pawn shops have diverse inventories, so there should be a gift for even the hardest person to shop for. Here at Cash Express, we have great gift items for nearly anyone in your life:
And much more. Visit Cash Express in Philadelphia if you need a unique gift this holiday season.
2. Less Crowds
Pawn shops have acquired an unfortunate stigma of being dirty or shady, despite the many regulations governing pawn shops and the strong relationships many pawn shops have with local law enforcement.
Still, you can use this stigma to your advantage. Pawn shops won’t be as jammed full of shoppers as retails stores due to said stigma, so no need to fight through several winter coat-clad people to get the gift item you want.
3. Negotiable Prices
Good luck haggling for a better price at a giant retailer.
At pawn shops, it’s a different story. Not only are their prices lower on many items, but negotiation is encouraged! Feel free to try and haggle a lower price out of the pawn shop if you feel you can make a good case for it.
4. Financing Options
Scraping together a holiday budget is tough, even when you’re at a pawn shop where the prices are both low and negotiable.
At pawn shops, you can bring in your items to either pawn or sell. When you pawn an item, the pawn shop hands you a loan for what they determine to be the items value. They hold your item as collateral. Payback the loan in full and on time, you get your item back. Fail to do so, and the pawn shop takes your item. No fees, no credit checks/damage, no paperwork, no headaches.
Otherwise, you can simply sell the item if you really don’t want it.
So if you’ve got anything around the house you don’t want, bring it on down to Cash Express and we’ll have a look at it. Then, you can use the proceeds to shop from some of our cool inventory.
Pawn Shops: Your One Stop Shop for the Holidays
By ditching retail stores for pawn shops, you could avoid annoying crowds, bolster your holiday budget, and knock out your holiday shopping in just a couple hours; all while saving money.
If you’re looking for a place to check off your holiday shopping in Philadelphia, Cash Express has plenty of cool gift items at great prices. Don’t hesitate to bring any items you want to pawn or sell, either - you might have something another Cash Express customer wants to buy from us!
Saturday, December 07 2019
The holiday season is in full swing, meaning it’s time for one of the year’s most difficult undertakings: finding the perfect gift for everyone you love.
A lot of your loved ones can be tricky to shop for, but pawn shops like Cash Express have a wide range of interesting items that make great gifts for anybody on any budget. Take a look at some hot gift ideas you can find at your local pawn shop.
Jewelry will always be a gift favorite. It also happens to be one of Cash Express top types of items. Whether you’re looking for pretty earrings, a shiny necklace, or a fancy watch, almost every pawn shop has its own unique assortment of beautiful jewelry that you can actually afford.
Electronics are expensive yet fun items, making them consistently great gifts. Televisions, phones, tablets, video game consoles, and computers are all hugely popular, especially since tech seems to advance faster each year.
Don’t worry about quality - most electronics in pawn shop inventories are in great working condition, yet you can grab them for a much lower price than buying brand new.
Many pawn shops will even offer a warranty on more expensive items, giving you that extra peace of mind.
Musical instruments always make for a great personalized gift for the musically-inclined in your family and friend circle. Whether your intended recipient can shred the guitar or is just beginning to explore their musical creativity, many pawn shops have several musical instruments for sale spanning a wide range of prices.
Tools and small appliances are another common site at pawn shops. Everything from power tools like drills, to manual tools like screwdrivers, to small kitchen appliances like blenders can be found in many a pawn shop’s inventory.
Pawnshops commonly hold various toys and games for all ages in your inventory. They could be baby/toddler toys, board games, or even video games (for those of you buying video game consoles this holiday season).
The second-hand nature of pawnshop items brings you a distinct shopping advantage: discontinued/hard-to-find games and toys. Pawnshops are likely the only type of store to have these once their owners no longer want or need them.
Got a gun enthusiast in the family? Firearms aren’t an uncommon site in a pawn shop’s inventory. From antique firearms to modern favorites and everything in between, you can bet on your local pawn shop having a few firearms available for sale.
Looking for a Philadelphia pawnshop where you can knock out your holiday shopping? Come on down to Cash Express! We’ve got tons of great gift items available, including
And much more.
While you’re at it, feel free to bring us items you’d like to pawn or sell. We’ll get you the cash you deserve for those items; cash you can then use to grab some amazing holiday gifts from our inventory.
Friday, November 15 2019
Ideally, we’d love every gift we receive. After all, it’s the thought that counts, right? Sure, but we all know the awkward experience of excitedly tearing open a present from a distant relative, only to be disappointed by a “gift” we didn’t really want in the first place.
It’s important to show gratitude regardless of the gift, but that doesn’t mean you need to hold on to something you’ll never use! If you can find a way to sell it, you can get some or all of your money back; then you can buy yourself something you do want and treat that as your gift.
But you might be wondering where exactly you can offload an unwanted gift or two.
Look no further than your local pawn shop! Cash Express, one of the leading pawn shops in Philadelphia, is ready and willing to buy your unwanted gifts from you.
Bringing Your Unwanted Items to Cash Express
If you’ve got unwanted gifts sitting around your house, they aren’t doing you much good. You may as well trade them in for something more useful, or in other words, some cash. Bring them on into Cash Express! We’re happy to help our customers offload some unwanted items in exchange for quick cash.
Once you bring in your item, you can decide to either sell it or pawn it. We’ll give a thorough evaluation to determine the value of your item(s), then we’ll let you know how much you could make selling or pawning them to us.
We’re fast, too - we’ll have the dollar bills in your hand the same day you bring in your items, should you accept our price.
As a nice little bonus, you’re helping out other holiday shoppers in our community. They might be looking for the exact item you’re pawning to us, yet who knows if they would’ve ever found it had you not pawned your item?
Gift Yourself Something Else at Cash Express
After you’ve brought your item into us and gotten your fair price, you don’t need to look somewhere else to buy yourself your new holiday gift. Stick around Cash Express and look around our inventory. We’ve got all sorts of interesting items at great prices - jewelry, electronics, musical instruments, firearms, power tools, you name it.
In fact, you could do your holiday gift shopping for others while you’re here as well. Knock out two birds with one stone.
All in all, a pawn shop is one of the first places you should go if you have unwanted gifts. You can knock out some of your holiday shopping quickly and cheaply while clearing out clutter.
If you need a pawn shop in Philadelphia to sell your unwanted gifts to, Cash Express is located conveniently downtown. Stop in with your items, and take a look around at ours. Our associates will ensure an amazing shopping experience for you whether you need to shop or you just need to sell.
Thursday, November 07 2019
The holiday season is here, which means holiday gift shopping is fast approaching. Almost time to hustle up and down the aisles in an attempt to grab all the hot holiday gift items before they sell out.
Unfortunately, this time of year can be tough on your finances as you try to get everyone the gifts they want without going broke.
But you don’t need to spend a fortune at the mall just to get your family and friends wonderful gifts this holiday season. Why not visit a pawn shop?
You might be surprised at such a suggestion, but contrary to what some believe, pawnshop items make great gifts.
Pawnshops have a wide selection of items, many of them being common gift items. For example, video game consoles and TVs are a common sight at pawn shops.
But there are tons of other hobbyist items as well. Have a handyman of a husband? Pawnshops commonly have regular and power tools in great condition. Maybe there’s a gun enthusiast in your life? Pawnshops often have firearms for sale as well.
And if you have to shop for someone who doesn’t know what they want, pawn shops are chock full of interesting hidden gems if you spend some time looking around.
Retailers have fixed prices on their items; there’s almost never room for negotiation.
Not true at pawn shops. You can save a few bucks if you come in ready to negotiate for an item. Know your stuff beforehand, though, or you won’t get too far in your haggling.
Pawning/Selling Your Items
Whether you plan on stopping at a pawn shop during your holiday shopping or not, pawn shops can help you fund your shopping. Bring in a few valuable items you own for either selling or pawning purposes. Jewelry, electronics, clothing, tools, whatever’s sitting at home that you don’t use much.
Then you can put your selling/pawning proceeds right back into your holiday shopping budget. While you’re at it, you may as well stick around the pawnshop you visit and see if any items for sale have gift potential. Saves time and money.
By the way, you’re doing others a service by selling or pawning your items to a pawn shop. Someone else might be holiday shopping for the very item you’re selling or pawning, yet they might never have found it if you never brought it to your local pawn shop.
As the holiday season ramps up, you might be looking for a pawn shop in Philadelphia to find interesting gifts at an affordable price. Cash Express has tons of cool items priced fairly. Still, need more room in your holiday budget? Bring in your items! We’ll have your cash AND your items in hand before the day ends.
Sunday, October 20 2019
Need extra cash asap? Have you ever considered bringing your items to a pawn shop like Cash Express to get some cash for your items?
Pawning is a great way to get a quick loan without jumping through hoops. However, you might’ve wondered what happens if you don’t come back to reclaim your pawned item(s).
First, A Brief Explanation of Pawn Loans
Sometimes, people need a cash boost quickly, but they don’t want to sell one of their items. Pawn shops let them take out pawn loans and put down their items as collateral. These loans don’t affect your credit score nor do they have a lengthy application process, making them excellent borrowing options for those with poor credit.
All you do is bring in the item and a photo ID, then the pawn shop approximates the value of the item. When they’ve decided on the value, they offer a loan amount based on a percentage of the item’s value.
Pawn loans typically have a term length of 30 days. Borrowers must repay the principal amount in full plus a small fee before the end of the loan term to get their money back.
What Happens When the Pawn Loan Comes Due?
Many people think they have to pay up when the pawn loan is due or risk forfeiting their item(s). Actually, pawn loan borrowers have many options when time’s up.
Paying off the loan: Repay the loan in full on or before the due date. You get your item(s) back.
Now, is it possible to get your item back even if you didn’t pay back your loan?
Yes, believe it or not.
Once you relinquish possession to the pawn shop, they’ll put it up for sale with their other items. You can repurchase it as if it were any other item in the store.
In certain cases, you might even be able to reactivated the pawn loan at a later date if the item doesn’t sell.
Overall, pawn shops aren’t out to get you. They want to make their customers happy, because happy customers means more business. Pawn loans can create recurring income for them, whereas selling items is only a one-time revenue.
Therefore, it’s in their best interest to create a loan that works for you.
Looking for a good pawn loan in the Philadelphia area? Bring your items down to Cash Express! We especially love jewelry, watches, and antiques, but we’ll look at almost any item.
Monday, October 07 2019
Whether you’re considering bringing in an item to your local pawn shop or you’re a regular pawner already, you’ve probably wondered if your personal information is safe at pawn shops.
Pawn shops do get an unfair stigma for being “shady”, so naturally, you’ll be concerned about what happens to your personal information.
Don’t worry; your personal information is safe. We’ll dispel this myth of “shadiness” below by teaching you what pawn shops do with your personal information, so keep reading!
A Brief Explanation of Pawn Shops
Pawn shops let customers bring in a wide variety of items every day to exchange for cash. Items can include precious metals, jewelry, firearms, electronics, tools, antiques, and more.
Customers can either sell their item to the pawn shop, or more commonly, take out a loan against their item, a process called pawning.
Pawn shops are regulated by several state and/or federal laws. Many have developed close relationships with their local law enforcement as well to further enhance their efforts to follow the law and keep business running smoothly.
As a result, pawn shops require identification for every transaction to ensure safety and compliance with the law.
Pawn Shop Records
Despite the best efforts of pawn shops and the law, some stolen items make their way into pawn shops. Knowing that, you at first might be hesitant of perusing a pawn shop’s wares for fear of unknowingly purchasing or even bringing in a stolen item.
Pawn shops are required to gather certain personal information in order to comply with the law. They require a government-issued photo ID of you so they can keep a record of it. They also keep track of every new item they receive from customers.
In fact, pawn shops are required to submit the item information to a police-monitored national database in case the item description matches a stolen item in a police report.
How Long Do Pawn Shops Keep Records?
Pawn shops keep records for different lengths of time depending on a few factors.
First of all, they must follow state laws regarding record-keeping. Some states may require a longer time period than others.
Pawn shop record-keeping software is another factor. The amount of time they hold onto your information depends on if they have the software and what kind they have if they do.
All that being said, most pawn shops keep your records for anywhere between 3-5 years depending on how these factors play out. When enough time has elapsed, they’ll shred any paper documents and delete any electronic files in their software containing your personal information.
So don’t worry, your personal information is in good hands at a pawn shop.
Now that you know that, are you looking for a quick and easy pawn loan? Or maybe you’re trying to sell your item for a good price?
If you’re looking for a pawn shop in the Philadelphia area, bring your stuff into Cash Express. We’ll get you a fair offer for your items, and you’ll be out the door with cash in your hand before you know it!
Friday, September 20 2019
Consumers can leverage their possessions for cash at several types of stores. You’ve got consignment stores, thrift stores, and pawn shops.
But it can be hard to tell these options apart; what are the differences? What makes any one of these better than the others?
Read on to see how each type of store operates.
Before we compare thrift stores and pawn shops, we should also clarify what a consignment store is.
Consignment stores act as a sort of outsourced storefront for your items.
First, you bring in all the goods you’d like to consign. The store thoroughly inspects your items then creates a price list for all your items so you can decide if it's worth it. The store will then take your items and list them for sale. When your items sell, the store takes a small cut and pays you the rest as a check or sometimes in store credit. Occasionally, some stores will pay you a set amount up front instead.
Most of the time, your items are only listed for a specified period of time. If they don’t sell, the consignment shop will return them to you. Some will donate the items to charity.
To boil it down, you’re essentially paying a small fee to list your items for sale in a public place. It’s like a real-world eBay.
Consignment stores exist for almost everything nowadays. As long as your items are in decent condition, you could make a good chunk of change selling it to a consignment store.
Thrift stores are often used interchangeable with consignment stores, but they are different in several ways.
First of all, items are donated rather than sold. You can’t earn much money donating to thrift stores, but qualified donations can save you money in the form of charitable donation tax write-offs.
Because items are donated, thrift stores don’t inspect items as rigorously. This is a good thing for both buyers and sellers. Sellers can offload more stuff they couldn’t at a consignment store or thrift shop and potentially save more on their taxes. Since thrift store get these items for free and don’t inspect them, they list them at rock-bottom prices, which is great for buyers.
Despite the low prices, buyers can find some hidden gems in thrift stores if they spend some time looking.
Pawnshops like Cash Express are different than consignment and thrift stores. They provide two methods of getting cash for your items:
Pawning items the most common method. Rather than selling your items, you use them as collateral for a loan. The pawn shop will inspect your item to determine their value, then use this number to decide on a loan amount. They’ll also give you the length of the loan and calculate the total interest. All you have to do to get your items back is to pay the full balance of the loan plus interest within the time period set by the shop.
If you fail to do so, the worst that happens is the pawnshop takes possession of your items and resells them to other customers. No dings to your credit, no loan applications, no collections agencies, none of that.
Alternatively, you may be able to outright sell your item to a pawn shop. You may not make as much money as you could get through a pawn loan, though, because pawn loans are more profitable and flexible to pawn shops than buying and reselling. Think about it: you pay interest on pawn loans on top of the principal amount, earning the pawnshop money without sacrificing their loan amount. Fail to do so and they at least cover their bases by keeping the item and reselling it.
Need a pawn loan in the Philadelphia area? Just want to sell your items? Bring ‘em on into Cash Express! We’ll make sure to get money in your hand the same day you come in.
Saturday, September 14 2019
Since the dawn of time, people from every culture and country have occasionally found themselves a bit short on money. Fortunately, someone came up with a solution not too long after people first started needing fast cash - people could “pawn” their possessions as collateral for a quick and easy cash loan. Pawnbrokers hold onto the individual’s items, and in exchange, the borrower has a contractually-specified time period to pay the loan back plus interest. If they are unable to pay it back, the pawnbroker can take possession of the item and sell it to someone else.
Today, over 20 million people in the US visit one of the US’s 12,000+ pawn shops each year.
The Beginning of Pawn Shops
Rewinding 3,000 years, the first pawn shops emerged in Ancient China. They provided peasants a method of accessing short-term credit. At first, pawnbrokers didn’t operate as a shop; they ran their own independent operation. However, pawning soon came to be done mostly through pawn shops.
Moving over to Europe, pawnbroking exploded in popularity in ancient Greece and Rome. Many merchants pawned items in order to fund their new businesses.
As Europe entered the Medieval Age, the Catholic Church began to restrict pawn shops from charging interest for religious reasons. But the restriction wouldn’t last forever, as many began seeing the benefits of pawning in financing new business pursuits as well as helping the poor. It became so widespread that Queen Isabella of Spain allegedly funded Christopher Columbus’s expeditions by pawning her jewelry!
Leading up to and during the Industrial Age, clothing was the most valuable item for most of the working class. The working class almost always needed extra cash to pay the bills each week, so it became routine to pawn your clothes on Monday and retrieve them when you get paid on Friday, just in time to pay off the pawn loan.
We also see more regulation as we approach the modern age. Pawn shop borrowers tended to be poorer, which was correlated with more crime. That includes stealing items and pawning them. England combatted this with the Pawnbrokers Act of 1872, one of the first widespread pawn industry regulations in the modern era. This Act did a few major things:
Pawn Shops Today
In just the last century, pawn shops have spread all over the United States. In the earlier part of the 20th century, during the Great Depression, banks were failing left and right. This left people in desperate need of cash with little option but to pawn their items, making the best of a terrible situation. Nowadays, you can find a pawn shop in basically any city or town. They serve not only as a banking alternative to those without a ban account, but also as a place for almost anyone to buy and sell rare and interesting items.
Still, they haven’t lost their connection to history. Antiques, jewelry, and other old but well-preserved items are highly sought after by most pawn shops. Some people try to make up stories about how valuable their items are, but pawn shops have become adept at sniffing out fakers.
If you have some rare or valuable item and you’re in need of some quick cash, why not bring it on down to Cash Express?