Frequently Asked Questions
Smart Pawn & Jewelry
Get the answers to frequently asked questions regarding pawning and short term loans. Smart Pawn & Jewelry pawnshops are leaders in the North Carolina pawning industry. Getting a loan has never been easier – with a wide array of financial services, you can be confident that you can get the money you need. Based on each case, we help our customer’s find the best pawning option and recommend a pawn financing plan.
Our pawn financing options will determine when you must repay your loan, as some loan types will have longer grace periods than others. If you are having trouble repaying your debt or need more time, our employees are more than willing to work with you. Our pawning professionals understand that unexpected expenses occur and do our best to serve you.
Short Term Loans
How Does a pawn loan work?
Pawn loans are short term loans. Individuals use their items of value as collateral to get a secured loan, and loan details vary from case to case. Borrowers must repay the balance of their loan within the time designated by their contact or else must face losing ownership of the item to the pawnbroker.
What are my options to repay my pawn loan?
You can regain your property after you payback your short term loan amount when the term of your agreement is over. You must also pay any accrued fees. If you are unable to repay your loan by the due date you may renew your loan by paying, you can ask to extend the period of time you have to repay your loan for another 90 days through an extension. You may still be required to pay interest fees during that time.
In our North Carolina & Oklahoma pawn shops customers can ask for a loan extension. Extensions allow you to pay a portion of your interest and extend your due date. The loan extension durations are dependent on state laws and regulations.
How do you determine worth and condition of items?
Item worth is determined by a number of factors, including age, condition, imperfections and more. Broken or jewelry, for example, may only be valued at the market value for the precious metal or gems it contains. In the case of all your valuables, you can expect that items requiring repairs will yield higher resale costs to restore the item back to its normal state and therefore will reduce the amount we can offer for a loan or for purchase.
Are my items safe?
Yes. Our business depends on the safety of your items and on your continued business. Our pawn stores get paid when you reclaim your items. If you fail to reclaim your merchandise, we keep your merchandise to regain the costs of our loan when we resell them. We keep your property and ours out of harm’s way and potential theft.
What is a collateral loan?
A collateral loan is the same a pawn loan. A collateral loan allows individuals to use the value of their personal property as collateral to apply for a loan. These short term loans can be extended or renewed depending on the case. The borrower can reclaim their items when they repay the loan balance and any interest frees to the pawnbroker.
How long do I have to repay?
The amount of time you have to repay will vary depending on the type of secured loan you select and the terms of your loan agreement. Contact a Smart Pawn & Jewelry pawn broker near you for additional details. Pawn loans may have loan terms for a month or longer
Will I lose my items?
It depends on your actions and your ability to repay your pawn loan. You will not lose your item unless you default on your loan and don’t pay back your due loan debt. If you’re unable to repay your loan on time, or contact the pawnbroker to renew the terms of your loan, our staff will continue to hold your item until you can reclaim it. You will not lose your item unless you neglect to communicate your financial needs. Our professional brokers help in any way they can.
North Carolina & Oklahoma Pawnshop Regulations
Does Smart Pawn follow Texas pawnshop regulations?
Yes. North Carolina & Oklahoma pawnshop regulations are governed by federal, state, and local laws. Smart Pawn & Jewelry pawn shops are audited regularly to ensure compliance. For more information on rate restrictions and your rights as a consumer. Contact a store near you for specific information on North Carolina & Oklahoma pawn shop regulations per service.
Do you work with police to combat theft?
Yes. Our North Carolina & Oklahoma pawn shops work closely with local authorities to prevent and identify any potential stolen items. Whenever possible, we try to return the stolen pawn items to their rightful owners. Our pawn loan process requires customers to show identification, thus discouraging thieves and other shady behavior. Additionally, our valuables with serial numbers are easy to track and can help identify theft and authenticity.
The items for sale in our North Carolina & Oklahoma pawn shops are items that our customers did not reclaim after entering a pawn agreement. Although we offer loans on items expecting that customers will return to reclaim their valuables, it doesn’t always occur or they may not have the money required to clear their account. Other items available were purchased directly from our pawn customers.
With 3 locations in Charlotte, 1 in Mt. Holly, North Carolina, and 1 in Tulsa, Oklahoma to serve your pawn and loan needs, you are never too far from a Smart Pawn & Jewelry pawn shop.
A pawn is a short term loan using a personal possession, such as gold and jewelry, as collateral for the loan. We are your alternative to banking because you cannot go to the bank and use a personal possession as collateral for a loan. But that is exactly what we do! When you are in need of cash, immediate short term loans without a credit check is what make Smart Pawn & Jewelry shops unique.
We Buy Your Stuff
We make selling your items simple and hassle-free. You may not realize how much money you can raise by selling your items or getting a loan using things you utilize every day. Selling your items to our pawn shops is a better option than having a yard or garage sale; you can get more cash without the trouble of selling your items for hours.
With many years of industry expertise in the diamond and estate jewelry trade, our loan specialists are recognized for their higher cash loans on previously-owned diamond jewelry and high-brand watches. Bring your items to our knowledgeable staff to be valued. If you are happy with the price, we pay you cash for your gold on the spot! It's as simple as that…
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