When you turn to a pawn shop for quick cash, very often the basic dilemma boils down to “Is it better to pawn or to sell?” In this post, we give you all the information you need to make sense of your options.
Is It Better To Pawn or To Sell?
The answer depends on how much cash you need and your relationship you have with the item you intend to sell or pawn. Simply put, selling usually means getting more money and saying goodbye to your item, while pawning involves a bit less money but gives you the chance to retrieve the item.
When you sell an item to a pawn shop you get more cash because in that case the pawn shop can put the item on sale immediately.
By contrast, when you decide to pawn, the pawn shop has to take into account the fact that the object will depreciate (in other words, the object will lose value) by the time your pawn shop loan is due.
When To Sell
Selling an item to a pawn shop makes sense when these two conditions are met:
- You want to get more money for your item
- You don’t mind not being able to retrieve the object
Some scenarios when selling is the best alternative include tools that you bought for a DIY project, artwork you received as a gift or bought but don’t like anymore, or luxury handbags that you have stopped using.
When To Pawn
In a nutshell, pawning is the right option when an object has sentimental value or you just want to be able to retrieve it for whatever reason.
As you can see the answer to the pawn vs sell dilemma is totally subjective. To find the alternative that works for you, ask yourself questions like:
- Do I have a sentimental attachment to this item?
- How much money do I expect to get?
- Am I willing to get a little more money in exchange for parting with my item?
To learn more about pawn shops and pawnbroking, check out our previous posts, “How Long Do Pawn Shops Keep Items?” and “Does Pawning Affect Your Credit Score?”
AJ’s Super Pawn: Pawn Shops in Chino and Pomona
If what you need is a dependable, trustworthy pawn shop in Southern California, look no further than AJ’s Super Pawn.
We have locations in Pomona and Chino California. Give us a call today (Pomona: 909-622-0334 , Chino: 909-465-5456) or fill out the contact form to get in touch with our team!