Pawn Shop FAQ’s
Learn More About Pawn Shops in Salt Lake City, UT
What is a pawn shop and how do they work?
A pawn shop offers you a collateral loan. This means lending you money for items that you own, such as jewelry and electronics. The loan you receive will depend on the value of the item. Once you’ve paid this money back, you can have your item returned to you. Instead, you can surrender your item as payment.
What are the benefits of using a pawn shop?
If you’re in need of fast cash, Pawn Brokers Exchange offers a quick solution to your problems. You can securely borrow money and there are no credit checks required. You can walk out with a loan on the very same day.
Why are Pawn Brokers Exchange different from other pawnshops?
We always make sure that you receive a fair and honest price for your items. We provide you with obligation-free appraisals to let you know how much your valuables are worth. We’re trustworthy and want to help you out. If you want to find out more about the services we offer, you can contact us directly.
What types of items can I pawn?
At the Pawn Brokers Exchange, we let you pawn a variety of your belongings. This includes musical instruments, such as electric guitars and drums. Our gemologists can take a look at the jewelry you think might be worth something. We also accept gold and coins, as well as electronics, new and old.
How are my belongings valued?
We have a team of professionals to appraise your items. This includes a team of coin dealers, gemologists and numismatists. They will assess the brand of your item, along with the model and current condition. All of these factors will contribute to the price you receive for your belongings.
How long do I have to wait for a pawnshop loan?
If our experts are able to easily evaluate your item, receiving your loan can be fast. You can be in and out of our shop within five to ten minutes with the loan that you need. Some items that are rare or need further evaluation may take longer.
Are pawnshops regulated?
Yes; pawn shops are regulated and this includes Pawn Brokers Exchange. We’re governed by major federal laws that are applicable to financial institutions. Federal laws include the Truth in Lending Act, the Patriot Act, and the Equal Credit Opportunity Act. The Federal Trade Commission Rules will also apply, respecting Data Privacy.