Pawns are often misunderstood. When you pawn an item in our store you are entering into an agreement with the pawnbroker. You are offering an item in exchange for money with the understanding that you will come back to repurchase your item within a specific time frame. You are agreeing that if you fail to come back in the time period specified that the pawnbroker may take possession of your item and resell it to recoup the pawnbrokers money.
Our pawns are 30 days. On or before the 30th day you can redeem the loan for the loan amount plus our service charge. You may choose to extend the loan if you are unable to redeem the item by the 30th day. To extend a loan you simply need to pay the service charge, and we will renew the loan for another 30 days. The maturity date of our pawn loans represents the 30th day of the pawn. We hold all pawns for an additional 30 days after the maturity date of the pawn, this 60th day is called the Forfeiture date, this is when the item is put out for sale or otherwise liquidated. On loans over $100 we may, as a courtesy, attempt to contact you before putting your item out for sale.
Our standard pawns are written at 20%, which is 5% lower than most pawn shops in Fort Lauderdale. We have special rates for loans over $2000, $5000, and $10,000. Please ask one of our friendly pawnbrokers about our special rates. Our minimun service charge is only $5.