Superior Pawn is licensed and regulated by the city. Our clients have the assurance of knowing they are dealing with a reputable business, regulated by state and city law and cooperates closely with local law enforcement agencies. Loans are made based on the intrinsic value of a clients personal property. After a loan amount is decided, a pawn ticket is issued stating the amount of the loan and the specific time period that Superior Pawn will hold the clients property. You must be 18 years of age and have valid state photo ID to receive a loan.
How much can I get on a loan?
That depends. We really have no maximum amount that we can loan, loans are calculated, partially, on a portion of the item’s resale value. We loan a portion of the amount that we can expect to receive if we have to sell the item if you do not come back to get it. It is based upon years of experience and how well and fast different types of items sell and does not relate to how much the item cost new. Yes, your item is worth more than we are loaning on it and we will take your past loan record into consideration, both the redeems AND the losses. MOST people do of course pick up the items they put into pawn, but we have to look at all things by what we could sell them for if you didn’t come back.
How many tickets can I have at once? How often can I pawn something?
In short, as many as you want and as often as you want! We have many regular customers that pawn daily or even more often and others we see but once a year. You can bring in as many different items as you want, or you can bring in the same item many times. That is the beauty of the pawn shop – you can’t max out your credit, only to be charged with an ‘over credit’ charge and the only limit on how much you can borrow is in how much your items are worth on pawn to us!
What ID do I need to have to take out a loan?
You will need a valid state issued picture ID card or drivers license. The list of acceptable ID is very short and is defined by law.
What is the difference of a pawn (loan) and a pay-day / check advance?
A pawn is where you get a loan against the value of an item that you bring in. When the loan is due in 30 days, you can either pick your item up for the loan value plus the service fee or you can pay the service fee and get another 30 days. You can keep the loan for as long as you like, if you make the monthly service fee payment.
With a payday loan or a check advance, you write a check for the amount you borrowed plus the service fee. In 2 weeks ( standard for most companies) your check is deposited. If you do not have the funds to cover the check, you will owe the company you borrowed from additional fees PLUS any fees your bank charges you for being overdrawn.
Do you offer car title loans?
We do not offer loans against the title of items ( cars, boats, etc.). We must keep the item in which we are loaning against in our possession. We do have plenty of space to store large items like cars, trucks, and boats.