WHAT IS PAWN?
A pawn is a way to get immediate cash by using items you already own as collateral and borrowing money against them. The difference between selling your item and pawning your item is:
Pawn: You own the item and can get it back (or redeem) when you pay back the amount borrowed plus charges which may include service charges and accrued interest.
Sell: You sell your item with the intention of not retrieving it or wanting it back.
What is the minimum and maximum amount of money I can borrow?
Each item is reviewed individually and the loan or sell amount is determined based on the item’s desirability and fair market resale value.
What can I pawn or sell?
Broken Jewelry or Scrap Gold
Precious Metals and Coins
Luxury Designer Products (handbags & accessories)
What is the interest rate for my loan?
Max Pawn offers loans which strictly adhere to the Nevada Pawn Code regulated by Nevada Legislature. (NRS: Chapter 646 on the website of the Nevada Legislature)
Pawnbrokers in Nevada my charge and receive interest at the rate of 13% a month for money loaned on the security of personal property actually received in pledge and may not ask or receive a higher rate of interest on any such loan or redemption of personal property.
Promotional interest rates as low as 8% per month may be offered; depending on item, amount and time needed for the loan. Call us to discuss the details.
How long do I have to pay off my loan?
Max Pawn offers 90 day loans with an additional 30 day grace period at the rate of 13% per month. If, at the end of the contractual term of the loan, you don’t wish to redeem your item, you have the option to pay the accrued interest and renew the loan for another 90 days. Your item may be kept in pawn for as long as needed as long as interest is paid as due.
If you do not need the full 90 days to repay the loan, you may redeem your property at any time and will only pay for the time used. Time is calculated in 30 calendar day increments. 1-30 days is 13%, 31-60 days 13% X 2, etc. No payment needs to be paid until the contractual due date of the loan, at which time, the amount borrowed plus accrued interest or accrued interest only is due.
If your do not redeem your item or pay accrued interest, at the end of the 30 day grace period, the item will be forfeited and placed in the store to be sold.
Do you provide insurance?
Yes. We are insured by Lloyds of London.