smart spending

Get the best deal at a pawnshop

Bankrate Audio » Best Deal At A Pawnshop

Editor's note: This is a transcript of the audio file.

Listen to audio

If you're in the market for some quick cash by selling your stuff to a pawnshop or getting a loan, here are ways to get the best deal.

I'm Sheyna Steiner with the Bankrate.com Personal Finance Minute.

The best way to get the most money from a pawnshop is by selling your items to them, not taking a loan and leaving your valuables as collateral.

If taking a loan is your preference, do be aware of the loan terms. It can get expensive if you don't pay back the loan in a timely manner.

Remember that pawning is the same as any marketplace. Don't take the first offer; you may be able to find better prices by shopping around. Getting your item appraised or documented can only help your cause. Pawnshops are different than other stores in that haggling is expected, go in prepared to negotiate.

Developing a rapport with the retailer can help your cause as well. If the pawnbroker thinks you're good for more business, you may get a better deal.

For more on this and other personal finance issues, visit Bankrate.com I'm Sheyna Steiner.

advertisement

Show Bankrate's community sharing policy
          Connect with us
REFINANCE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed refi 3.96%  0.11 4.07%
15 year fixed refi 3.08%  0.09 3.17%
10 year fixed refi 3.09%  0.13 3.22%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.32%  0.03 4.29%
50K FICO-based HELOC 3.98%  0.02 3.96%
100K FICO-based HELOC 3.83%  0.02 3.81%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.75%  0.10 2.85%
48 month used car loan 2.99%  0.06 3.05%
60 month new car loan 3.19%  0.05 3.24%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.99%  0.01 0.98%
2 Year CD 1.22%  0.02 1.20%
5 Year CD 1.87% --0.00 1.87%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.76% --0.00 15.76%
Cash Back Cards 16.44% --0.00 16.44%
Low Interest Cards 11.04% --0.00 11.04%
 
Next
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us