Pawn shops are a great way to free up some cash. Many people go to pawn shops to pawn and sell their goods. If you’re new to pawn shops, you may not know the difference between pawning and selling goods.

Pawning Goods

When you walk into a pawn shop, you have two options, you can either pawn your goods for a loan or you can sell your goods outright to the pawn shop. When you choose to pawn your goods, you are using them as collateral for your loan. Once you pay off your loan, you can reclaim your goods. Many people find that pawn loans are a great option for a short term loan.

Some people are hesitant to take advantage of pawn loans because they fear they will lose their items if they can’t pay back their loan in the allotted time. However, at Hat City Pawn, we do offer loan extensions to allow people more time to pay back their loans and reclaim their goods. We understand that everyone goes through difficult times and make every effort to enable people to reclaim their pawned goods.

Selling Goods

Selling goods is just what it sounds like. When you walk into a pawn shop, you can choose to sell your goods outright. Many people find that selling goods to pawn shops is better than trying to sell them in a garage sale or in online auctions. While selling in garage sales and online auction sites can be rewarding, it requires a lot more work and time than selling goods to a pawn shop. At a pawn shop, you can walk in with your goods, have them appraised, choose to sell them and walk out within a few minutes with cash in hand.

It’s up to you to decide whether you want to pawn or sell goods to a pawn shop. Both are good options when you need cash. In many cases, customers will come in and pawn some of their goods and opt to sell others outright. Pawning gives people the option of reclaiming valuables they aren’t ready to part with, while selling gives people the opportunity to turn their unwanted valuables into cash.