To Sell or To Pawn? That Is The Question!
If You Something of Value & Need Cash - You Have Options!
What is pawning and how does it work is a common question we receive. Pawning an item is a long honoured tradition, and a remarkably simple process. Back before banks offered credit cards and lines of credits freely, there were Pawn Shops. For hundreds of years Pawn Shops have been the way many would be able to deal with short term cash flow issues. If you had an item of value, and needed cash, you took it to the Pawn Shop.
In fact, it was common form “Mom” to take the family’s “Sunday best” clothing to the Pawn Shop on Monday, use that cash to pay for the week’s groceries and necessities, and Friday when Dad got his pay cheque, he went back to the Pawn Shop to get the family’s Sunday best back. And so it went, week after week.
Today, high interest payday loans and credit cards often fill that gap, but seek to keep you – the consumer – in a cycle of debt; enslaved to a job and a credit score. By contrast, pawning an item is remarkably simple: you have something of value and a Government issued ID, that’s all we need. Our interest rates are well below that of Payday Loans, there is no credit check, no employment verification (in fact you don’t even have to be employed at all), and the paperwork is easily done in a few minutes.
When you come into a local Common Exchange location across BC’s Lower Mainland with an item of value, you have the choice to sell your item, or pawn it. Here is how the two differ: