Never pawned or sold an item before and have questions?
Customers can pawn or sell items. What's the difference?
Pawning is roughly the same idea as a loan. We charge 25% interest per month and 1.50 per transaction which goes to the Automated Police System.
Example: You get a loan on an MP3 Player for $30. You can reclaim the MP3 Player in 30 days or less for $30 plus 25% interest, or roughly $39. If you can't pay the entire loan within 30 days, you can pay the monthly interest at 25%, which is about $9 and continue paying interest each month to hold onto your item.
You can pay against the principal as long as your loan is not past due.
Defaulting on a Pawn:
If you make no payments or arrangements within 65 days of pawning an item OR make a payment and are a month and five days past due, we can sell your item.
First, some rules to follow:
1) You need a valid drivers license
2) An item must be legally owned by YOU, i.e. not stolen
3) Have no liens against the item
4) The owner must be over 18 years of age
Selling an item to us is simple. The same rules follow, only you don't pay anything back. Selling an item usually gets the same amount of money as a loan.
Why Us and Why a Pawn Shop?
Most people have a couple options when they need money: Family or a bank (there are other options, of course, but I'm not going to suggest ways for you to endanger yourself, become a medical test subject or track down parking lot change because that takes way too long). Both involve an awkward conversation, being questioned and at a bank, probably being told "No" in a few more words because they have 90 crumbling homes in foreclosure just in the local zip code and won't risk even small, short term loans. You'll feel like you wasted your time, and you might not have much!
Unlike what retail jewelry stores and TV shows used to portray, pawn shops aren't dark, dirty holes in the wall. We are well lit, are required to send all of our transactions to the police and as long as I have time to vacuum - we are pretty clean! Our shop has been open for 26 years and Little Canada considers us a model for how a pawn shop should be run. Consider us a high end thrift store and loan center.
Come to Lincoln Pawn. Tell us whether you'd like to sell or get a loan and on average, we can get you cash within 5 minutes and we just need your collateral and a signature. We won't ask why you are selling or borrowing unless you want us to know. You can pay over the phone or in person. Easy.
When pawning or selling electronics or tools, please include the following:
Chargers, batteries, accessories, cables, etc.
When pawning or selling a firearm, please bring
the firearm in a case, really for your own legal sake.