How do you determine and items worth?
We base pawn loan amounts on the value of your item, its current condition and our ability to sell the item. We evaluate your items and give you the most money we can. The inspection process varies depending on the type of item—for example, jewelry is evaluated differently than a DVD player. We price compare your item to retail value when it was new, its pre-owned market value, and its current condition.
How do you determine the condition of an item?
The condition of an item is always taken into account during the inspection process. If one XBOX 360 game system comes in that is in perfect condition and one XBOX 360 game system comes in missing the controllers and charging cords, we will loan more on the XBOX 360 game system that’s in better condition. When it’s general merchandise you want to pawn, we test each item to ensure it is in good working condition. This includes, but is not limited to, a visual inspection, plugging an item in and turning it on, and noting if any necessary accessories (such as remote controls) and manuals are included. The better the condition of your item, the more money we can loan you. This is true for any collateral loan or purchased items.
How do you determine the price of gold?
The price of gold is based on market values, the price for which is routinely reviewed and updated daily. Prices can vary greatly as the loan amount for 18K gold is significantly higher than that of 10K gold. We are the best "Gold Buyer" in Orlando Area!!!
Can you give a quote on an item over the phone?
Unfortunately, we cannot give quotes over the phone because loan amounts vary greatly depending on the condition of an item. For general merchandise, we test each item to ensure it is in good working condition. And for jewelry, we test to ensure diamonds and gold are genuine. This testing includes a visual inspection using a jeweler’s loupe, weighing the item. In addition, we test the metal using a special acid that determines the karat of gold.
Why does the loan amount differ from the selling price at local retailers or even Instant Replay Pawn & Gun?
Our loan values are based on pre-owned retail prices, not what the item cost when it was new. Any loaned or purchased item that is turned over to us and made available for sale is pre-owned and will be priced accordingly to its current condition. The loan amount we give you is based on that selling price—and our ability to sell the item.
Is my loaned item safe while in pawn?
While your item is in pawn, you still own it. It is our responsibility to keep it safe and in good condition while it’s in our care. When you give us an item for pawn, we keep all accessories (remote controls, cables, etc.) with your item and place it in a secure area. Your item is safely stored here until you come back to pay your loan in full and claim your merchandise. We are fully insured for the loan value of the item we keep.
Are pawnshops regulated?
Yes. States have regulated the pawn industry for decades and most pawnbrokers are licensed and regulated by local authorities as well. We are subject to such laws as Truth In Lending Act, Equal Credit Opportunity Act, Fair Credit Reporting Act, Patriot Act, and Federal Trade Commission Rules on Data Privacy and Security Transfer, as well as Federal Firearms Licenses. At the federal level, we are regulated by the Federal Trade Commission (FTC), Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), and the Treasury Department.
Can I pawn a gun?
Yes. We accept firearms and archery equipment for pawn loans and sell firearms and archery equipment in our gun shop. We are registered as a firearms dealer and must comply with all federal regulations. In addition, we include safety trigger locks to every firearm purchased. We also accept FFL transfers. Please call for details and pricing.
Are pawnshops stocked with stolen merchandise?
No. Less than 2 percent of items are identified as stolen goods. Pawnshops are actually the worst place to try and get rid of stolen merchandise, despite what you see on television or in the movies. Pawnshops are highly regulated; work very closely with local and federal law enforcement officials. All of our pawn loan paperwork is mailed within 24 hours to the Orange County Sheriff’s Pawn Division and is entered into their database.
If you see something in our pawnshop that you like, but you don’t have the cash on hand to buy it, don’t worry. We have an easy layaway program. Put just 20% percent down, and with a few small payments, that item can be yours in no time. Ask for details in our shop.
How are you different from other pawnshops?
We are family owned and operated for the past 20 years on the Eastside of Orlando. We offer fast and courteous service to all of our customers. Unlike the larger pawnshops, we work with our customers on a one-to-one basis. We understand that every customer has a different situation at hand, and we strive to be compassionate to your needs.
How does a pawn loan work?
Pawn loans are a quick and easy way to borrow money without a credit check or hassle. Loans are based on the value of your item, not your credit rating or pay schedule. A typical pawn loan has a term length of 30 days/one month, plus a 30-day/one month grace period. If you cannot pay back your loan in full, including any applicable grace period, we offer extensions, to give you extra time. You may also choose to surrender your item as payment in full. Simply bring us an item of value, along with a valid photo ID and we’ll get your money in minutes after your loan is approved. We will also purchase items of value if you do not want to get involved in a pawn loan.
What is an extension?
If you are unable to pay back your loan in full on its due date, you may be able to get an extension on your loan, if permitted by state law. With an extension, you will be required to pay a portion of the interest owed (25%), then you may extend the length of your loan for (30) days.
Will I lose my merchandise?
The majority of our customers repays their pawn loans and pick up their merchandise. If a customer chooses not to repay the loan, the merchandise/collateral for the loan is forfeited.
History of Pawn Shops
You see them in the various parts of town and you have been wondering just exactly what is a pawn shop, how do they work, and why are they becoming more common place? But you haven't asked.
Well to answer your question, let’s look at the history of pawn shops. Pawn shops date back to ancient times and are one of the earliest recorded lending institutions. During the late middle-ages the House of Lombard in Europe had a group of pawn shops. The sign of the House of Lombard was the three golden balls, and this sign was associated for years with the pawn industry.
The pawn industry came to America with the first settlers, and in the early parts of this century, pawn brokering was regarded as the main source of consumer credit. With the rise of large consumer credit institutions, such as finance corporations, savings and loan associations, and credit unions, the pawn shop is no longer the main source of consumer credit. But the pawn shop still plays a vital role in providing consumer credit.
The general public needs to borrow small sums of money that other sources are not willing to provide, and this resulted in the rise of popularity of pawn shops. What chance do you think you would have in securing a $300.00 or smaller loan from a financial institution for a 30 to 90 day period? The cost of the paper work alone prohibits them from making such loans on a regular basis.