Do Pawn Shops Offer Loans on Works of Art?
Central Mega Pawn is here to help our friends and neighbors throughout Pomona, Ontario, Upland and other nearby communities. That means that you’re in a financial bind, and need quick cash, we are here to help. Pawn loans for works of art are one such service we provide. As San Bernardino’s favorite pawn shop, Central Mega Pawn has served the local community since 1984.
For 25 years, we have provided pawn loans to our neighbors in financial need, with fair, easy to understand pawn loans. We accept a vast variety of items as collateral for loans, including works of art. So, if you’re wondering: Do pawn shops offer loans on works of art? The answer is yes. Feel free to bring your art into our shop on Central Avenue in Pomona to inquire about a pawn loan. As a locally owned and operated pawnshop, we are here to provide pawn loans for artwork and other items.
Benefits of Pawn Loans
People pawn items because they need immediate cash for a brief period. This cash helps bridge financial gaps. Perhaps you’re between jobs and need a bit of cash to pay your utility bills. Or, maybe you had an unexpected expense, such as car repairs, that threw your budget off track. Whatever the reason for a financial shortfall, a pawn loan can fill a necessary gap in cash flow.
Pawn loans offer unique benefits that a loan from a bank or other traditional lender won’t offer. For starters, a pawn loan is not based on your credit score. Central Mega Pawn will never run your credit, nor report a late loan payment to credit agencies. This allows you to borrow money without the fear that any slight misstep will negatively impact your ability to borrow money in the future.
A second reason pawn loans are unique is due to their confidentiality. No one will know that you have a pawn loan with Central Mega Pawn unless you tell them. We offer anonymity, so you never need to feel embarrassed that you needed financial help.
A third reason to pawn works of art, lies in the fact that there is no waiting time to get your cash. If you bring in artwork and we agree to offer you a loan on the item, you won’t have to wait a week for a credit card, PIN number, or loan agreement to arrive. You will leave our shop with cash in your pocket immediately.
A loan from Central Mega Pawn also doesn’t require you to have a cosigner, or a bank account, which traditional lenders may require if your credit isn’t high enough. Likewise, there is no limit to the number of loans you may have at one time with us. If you need to pawn for example, a work of art, an antique, and a guitar, we are perfectly happy to extend three loans to you.
Pawn loans often also have far more favorable interest rates than a payday loan company or cash advance company. At Central Mega Pawn, our interest rates range from 2%-35.99%, depending upon the value of the collateral (item) that you pawn with us. By contrast a payday loan can have an interest rate of more than 600%! According to CNBC, the typical interest rate in California is a whopping 460%! So, a pawn loan that tops out at 35.99% can save you an absolute fortune in interest.
Pawning also allows you to maintain ownership of your artwork, or other item. As long as you make your monthly payments or request an extension and keep up with the interest, your item will be returned to you upon fulfillment of your loan. This is quite different from selling an item outright. At Central Mega Pawn, we do buy items every day, but if you don’t want to give up ownership of your item, and still need fast cash, a pawn loan is the way to go.
A final reason you may want to pawn a work of art at Central Mega Pawn is the simplicity of our loan terms. There is no fine print when it comes to our loans. We offer four-month, flat rate loans. We also expect the unexpected, and are willing to work with you, if you cannot completely pay back your loan in four months.
In those cases, we are happy to extend or renew your loan, if you keep current with the interest payments. If you are in good standing with the interest payments on your loan, we will continue to hold your collateral item, and will not sell it. However, if you do not keep current with your interest, we will list your item for sale.
Pawn Loans Help You Through Tough Financial Times
Pawning has a long history dating back thousands of years, and today the industry continues to thrive. Using personal items as collateral, Central Mega Pawn is happy to provide you with a loan to help you get through tough financial times.
The types of items we may accept as collateral for a pawn loan at Central Mega Pawn include:
- Gold Jewelry
- Silver Jewelry
- Platinum Jewelry
- Videogame Consoles
- Sports Equipment
- Camping/Outdoors Equipment
- Designer Watches
- Luxury Handbags
- Desktop Computers
- Laptop Computers
- iPhones and Android Phones
- Sports Memorabilia
- TV and Film Memorabilia
- Hand tools
- Power Tools
Central Mega Pawn is the Best Place for Pawn Loans for Art
Central Mega Pawn is the leading pawn shop serving Pomona, Upland, and Ontario. As a longtime, established, and reputable business, we’ve been providing our friends and neighbors in financial need with easy-to-obtain pawn loans for decades. that have simple terms and can be extended. It is truly our honor to provide valuable services, premium products, and safety nets when our neighbors find themselves in a financial bind.
We are here to help when you’re in a financial bind. We’re looking forward to showing you why we’re the Inland Empire’s favorite pawn shop. Central Mega Pawn is open seven days a week from 9:30 am – 6:00 pm. Don’t forget to follow us on Facebook to see hot new items we’ve got in stock as they come in. Or shop our awesome online store 24/7 from anywhere! We look forward to meeting you!