What is a pawn?
A pawn is another word for a collateral loan. A collateral loan is when an individual pledges an item of value in order to receive money in return. Our pawn loans do not require any credit check and are for 90 days with variable pawn rates based on the amount that you borrow. The more money you borrow the less of a pawn rate we charge (see rate schedule for details). Pawnbrokers lend money on almost anything of value including gold and/or diamond jewelry (even if it’s broken), silver and/or diamond jewelry (even if it’s broken), firearms, televisions, electronics, game systems, tools, household items, car audio, vehicles, ATVs, motorcycles, bicycles, lawn equipment, musical instruments and more. If it has value and we think the item can be resold then chances are we take it! Loans are based on the value of the collateral. When a customer makes a pawn loan they have 3 options: pay the loan back and retrieve the merchandise, pay an extension on the loan after the 90 day loan term or forfeit the item to the pawn shop in which case the pawn shop will sell the item to get back the money they gave for the pawn loan. No matter which option you choose, our loans will not affect your credit.
How much interest will I be charged on my pawn?
Rate Schedule
- ($1 – $999) – 20% (10% interest plus 10% service fee = 20%)
- $1000 – $4,999 – 10%
- $5,000 and up 5%
How do you know that the designer handbag, accessory or shoe you are purchasing from us is authentic?
All of Pelican Pawn’s Designer Handbags, Accessories and shoes are authenticated by a software called Entrupy. We provide a certificate of authenticity for every designer item purchased that can also be verified by certificate number on Entrupy’s website. This software not only allows Pelican Pawn to give confidence to our customers who purchase from us, but it also allows us to give top dollar for your designer goods that you bring to us.
How long will it take to sell or get a pawn loan on my item?
Pelican Pawn’s highly trained staff of pawnbrokers will get you in and out cash in hand in less than 20 minutes for most every transaction.
What can you pawn or sell?
Pelican Pawn takes almost anything of value. We find a way to say yes. Examples of items you can bring include: electronics, gaming systems, televisions, home goods, power tools, hand tools, gold and silver jewelry (even if its broken), diamonds, luxury watches, designer handbags and accessories, musical instruments, car audio, lawn equipment, firearms, bikes, sporting goods, vehicles, ATVs, trailers and much more!
How do we value your items?
Pelican Pawn’s trusted team of Pawn Brokers use state of the art customized industry software to give you the most up to date value on your item. We strive to give top dollar because we know the relationship with our customers are long term.
Will my items be safe in the pawn shop?
Pelican Pawn is licensed, bonded and insured. We pride ourselves on having state of the art security and protection for your valuables. We guarantee to return your items in the same or better condition than we received them.
What do I need to get a pawn loan?
All you need is a state issued ID or drivers license and an item of value.
What happens if I can't pay back my pawn loan?
If you can not pay back your pawn loan then we will simply put the item out for sale to recover our losses. There are no credit repercussions or recourse of any kind. Our relationship remains positive no matter what and we encourage you to keep bringing us more merchandise.
Can I negotiate at the pawn shop?
At Pelican Pawn we love making deals! Prices are born here and raised down the street.
Do I have to redeem my pawn at the maturity date?
No, Pelican Pawn allows you to pay 1 month extensions payments for as long as you need. We want you to have your item back.
