(Frequently Asked Questions)
Frequently Asked Questions
What exactly is a Pawn Shop?
A pawn shop is a type of lending institution based on collateral loans. We lend money on items of value that are brought in for inspection and left as collateral. Our selection of items for sale is based on pieces bought direct from the public or dealers.
What happens if a customer doesn't return to reclaim their item?
Most of our customers do pay off their pawned items, but if they default by not paying back their loan, the item is placed for sale by the pawn shop. The term of the loan is set out in the beginning and there is a small grace period, because life happens and we get that. As long as payments are being made, the loan stays active and the item is held. Most of our clients return to pawn again and again because they know we treat them well and we are fair with our pricing, our terms and our understanding of their particular situation.
Why buy at a Pawn Shop rather than retail?
Since our merchandise is previously owned, you don’t pay retail prices. Merchandise here is significantly cheaper, but still in great condition for current use. Plus, we are a convenient location with a great selection of items you may not find easily elsewhere, such as vintage jewelry or signed artwork.
What options are there for getting cash?
We can offer a loan based on collateral or we can buy an item outright. You get the money right away and the item is either held so you can pay it back, or in the case of an outright purchase, we keep the item and re-sell it.
Why would someone go to a Pawn Shop rather than the bank?
Dealing with a Pawn Shop is quick – you aren’t filling out form after form and waiting on credit checks. You can use a pawn shop even if you don’t have credit! Customers get money immediately based on the value of the items they bring in. There is no background check, credit check or other information required, other than ID. This means there is no record showing and no hit to your credit report.
What is required in order to get a loan on an item?
We require your provincial ID, no exceptions. In addition, you must be the owner of the item. We work with the local police department to ensure items that are pawned are not stolen or “borrowed” without the actual owner’s permission/knowledge.
What items can be pawned?
We buy almost anything of value from gold & jewelry to musical instruments, tools, electronics, coins and even collectibles. If you aren’t sure what you have will be acceptable, give us a call or send us an email and we’ll be happy to help.
Established in Mission, British Columbia in 2016
Our story is quite short and sweet.
In 2016 we opened our doors to provide Mission and the Fraser Valley with great customer service, excellent prices and a fantastic selection of quality pre-owned items as well as a quick turnaround for cash loans.
We want to work with our customers to get them exactly what they need when they need it – no judgments.
Our customer service is second to none, but don’t just take our word for it, come in and see for yourself.