If you need cash right away, you might be wondering what your best option is. If a bank or personal loan is out of the question, and you have an item of value on hand, your next best choice is your local pawn shop. But that then begs the question: which will get you the most money: selling or pawning?

Well, wonder no longer: we are here to help you choose the best option for your needs. While the option that is best for you and your family depends entirely on your pawn shop community in the circumstances, we can help you decide which is best for your needs. Keep reading to learn more about the pros and cons of selling when you need some quick cash.

Although selling and pawning may seem like similar things, they are actually very different. Your needs will determine which is the best option for you. Before we review the pros and cons of selling and pawning, we will describe some of the differences between selling and pawning. Both involve giving something up in exchange for cash. When you sell, you give up your item in exchange for money. When you pawn, you will get your item back only if you repay your loan within the terms set in your contract.


At first glance, it might seem like pawning is the better option because you can reclaim your item and get the money you need. However, if you look more closely, you may discover that there are other significant factors to consider.

First, keep in mind that although almost anything can be pawned, and that there are certain items that nearly every pawn shop will buy, not every shop will be interested in every single item that comes through their doors. Your item may not be in demand, and you might have to visit multiple shops before finding one that is interested in your item.

Also, pawning does not necessarily guarantee a big loan. Your local pawn shop must estimate the value of your item and grant you a loan against a percentage of the total. The shop must think of every item regarding resale value. If you do not return to reclaim your item and pay its interest, reselling the object then becomes their problem, and they will need to make sure they can make a profit on it to stay in business.

Pros of pawning

A significant benefit of pawning is that you can get your item back if you repay your loan on time. If you pawned something with sentimental value, this might be a huge draw. Another significant benefit is that pawning will not affect your credit score, and you will not be subject to a credit check. Pawn shops are only concerned with the value of the item you offer when they give you a loan, not your credit history. And if you happen to miss payments or default on your loan, your credit score will not be affected.

Finally, pawning is a quick process. Applying for a loan at a bank can take days or even weeks, and there is no guarantee that your financial institution will come through for you. At a pawn shop, you will know right away if they can grant you the loan you need.

Cons of pawning

Although pawning guarantees you a chance to get your item back, your local pawn shop cannot wait for very long. You will be kept to a strict schedule of payments, which means that you will have only a set period of time to repay your loan in full before losing your item. In some cases, you may have the option of renewing the loan, but this will tack on more fees and interest, making it financially unfeasible to reclaim your item.

Also, even if you have an extremely valuable item to pawn, you will only be able to borrow a percentage of its worth. Again, depending on your needs, a minor portion of your item’s value may not be enough. It is up to you to know how much you need to make the transaction worthwhile.


Although pawn stores are known for quick loans that involve collateral, you can just as easily sell items to your local pawn shop.

Pros of selling

The most attractive benefit of selling is that you may get a much higher value than if you choose to pawn compared to pawning. This is because the shop can make it available for sale right away, rather than having to store it for the duration of the loan. However, if you have any interest in reclaiming your item, selling may not be the way to go.

Selling may be the better choice if you need some quick cash and you don’t want to go through the restrictions and commitment of a loan. You will not have to repay anything, and the money you receive is yours.

An additional advantage of selling may be that, if the item has no sentimental value to you, you can get rid of things you do not need and get some cash in hand.

Cons of selling

All of that notwithstanding, selling an item means you are relinquishing ownership forever. You’ll never get the item back. With pawning, on the other hand, you can still get your item back as long as you repay the loan, along with its fees and interest.

Remember, giving up ownership means that you cannot rely on taking out a loan from your pawn shop against the value of the item in the future.

If you are in need of quick cash, take all of these factors into consideration. When you decide which avenue is best for you, visit us so we can make you a fair offer and get you the money you need. At Central Mega Pawn in Ontario Ca we offer reasonable prices and are happy to walk you through the process of pawning or selling your items. With us, you can pawn or sell your items without worry.