Pawn Shop Cash Loans—Pros and Cons

Pawn shop cash loans Brick means that you are getting a loan for the things that you have pawned.  The amount that you can get will depend on what you are pawning.  You will never get the actual value of the item but just a fraction of it.  On average, the cash loan is only about $160.  These cash advances are designed to be short-term loans.

The laws do vary from state to state in regard to these loans but on average, the term for having the loan before repayment is one month.  If you do not repay it within a month plus interest, then the pawn shop Brick can sell your item to get their money back.  Sometimes it can be difficult for a person to repay the loan because they are not designed to be paid off in payments.  They are meant to be repaid in one lump sum.

When getting a cash loan, you also have to factor in the interest rate, which is higher than interest rates for a regular loan from a bank or credit union.  Again, the interest rates vary from state to state but on average, a pawn shop can charge from 15%-230% interest rate.  They can also add additional fees if the pawn shop wants to do so.

If you decide to pawn an item at a pawn shop for a cash loan, some of the items that might bring you the most money would be jewelry, gold coins, and tools. 

As with any pawn shop cash loans Brick, there are pros and cons.


  • These are great if you are needing quick cash for emergency expenses in a hurry
  • There is no credit check, so you do not run any risk of hurting your credit score if you do not pay it back.
  • They will not send it to debt collections if you do not pay it back. They will just sell what you pawned/
  • You can get your money faster than going to other lenders


  • You could lose the pawned item if you do not pay the loan back
  • You may not be able to pay the entire loan back in one payment as they are not paid in small payments.
  • High-interest rates
  • You cannot borrow that much, only a fraction of what it is worth.
  • What you can generally get will not get you very far given the cost of living today.


When you need emergency cash, you can visit your pawn shop Brick, and get a cash loan to help you out.  This is a great option if you do not have good credit and cannot get a loan from any other lender.  These do come with their cons such as higher interest rates than regular banks, and a limited amount of money.

Although it might be easier to get money faster from a pawn shop, you need to treat them like any other lender by remembering that if you borrow the money, you have to pay it back.

Bio – Century Jewelers & Loan offers 90-day collateral loans on a wide variety of items.  We also purchase a variety of items including gold.   We appraise jewelry, coins, art and other valuables for estate, insurance, and divorce purposes and offer estate buying services.  At our store, we carry a large assortment of unique items to purchase including jewelry, musical instruments, collectibles and more. Century Jewelers & Loan will also help you host a gold party!

Century Jewelers & Loan has served the New Jersey area for over 15 years. Throughout our history, our main goal has remained the same: to deliver quality, value and, most of all, impressive service.

This commitment means we work harder and smarter than our competition. We are at the forefront of the pawnbroker industry and offer our customers the latest services, technology, and information available. Give us a call today and let us show you the Century Jewelers & Loan difference.

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By Cary Grant

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