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How does a pawnshop work?

Pawnbrokers  lend money on most items of value. The easiest items to pawn maintain a  reasonable value over time and are easy to store, like jewelry. Pawned  items provide collateral, eliminating the need to distinguish high risk  from low risk borrowers and allowing us to lend you money when you need  it most!. Loans can be as small as $20 and as high as several thousand  dollars depending on the value of the collateral. The average loan  period is 30 days. Generally, interest rates will vary with the amount  of the loan. The process is much the same as any other lending  institution, with the primary differences being the size of the loan and  the fact that customers provide items of collateral until the loan has  been repaid or the loan period expires. 

Can I sell my valuable item as oppose to pawn it?

Absolutely! RJ Jewelry pays top dollar for gold, jewelry, musical instruments, small electronics and many more items of value. 

Why would someone go to a pawn shop to get a loan?

Pawnshops  offer  a quick, convenient and confidential way to borrow money when  you need it most! A short term cash need can be met with no credit
check  or legal consequences if the loan is not repaid. We are a family owned  business since 1995 and pride ourselves on paying a fair percentage of  what the item would bring at the time it is sold.  When you pawn an  item with RJ Jewelry and Loan the terms of the loan are clearly outlined  for you. The terms will include your name, address, type of  identification provided to the pawnbroker, a description of the item,  amount lent, maturity date, interest rate and amount that must be paid  to redeem the item. RJ Jewelry and Loan Company is a licensed and  carefully abides by regulated interest rates and other charges, such as  storage or insurance fees. 

What is the foreclosure procedure?

If a customer defaults by not repaying the loan, the collateral becomes  the property of the pawnshop after the loan is overdue by a set amount  of time, generally one to three months. RJ Jewelry & Loan can sell  the item at his/her discretion if you choose not to repay the loan. 

Will I get my item back?

On average, 70 to 80 percent of all loans are repaid. Like any good  business, RJ Jewelry & Loan prides itself on fair, friendly service  and has relied on good relationships with loyal, repeat customers since  1995. We know the vast majority of our customers because they often  borrow against the same items more than once. We offer non-recourse  loans, looking only to the item being pledged to recover our investment.  It is always your choice whether or not you wish to repay the loan. 

How can I be sure the merchandise I purchase at a pawnshop isn't stolen?

Less than one fifth of one percent of all collateral is even suspect as having been stolen. We work closely with local law enforcement to catch  and prosecute people who steal merchandise. A customer must provide  valid identification when making a pawn transaction. This information is  accessible to the police department, therefore decreasing the  likelihood that a thief would bring stolen merchandise to a pawnshop.  After over 15 years serving the community, we are trained to look for  signs in order to avoid stolen property. It is not in our best interests  to accept any merchandise that could be potentially stolen. In fact,  police will seize all stolen merchandise leaving the pawnshop owner  without the goods and without the loaned money. 

Why Shop at RJ Jewelry & Loan?

PRICE & SELECTION!  We have new treasures ranging from tools, guitars, amps, video equipment, computers, cameras/video equipment, collectibles and so much more. We offer a great value and offer merchandise often ranging from 40% to 80% off retail prices. With five locations to serve you we offer an outstanding variety of  items and a few treasures you would only find at our stores. 

What is a REWARDS CARD and how do I get one?

As a special thank you to our loyal customers, mention you where you found  out about RJ Jewelry & Loan  and we will give you a free REWARDS  CARD which offer our valued customers free watch batteries and jewelery  cleaning as well as significant discounts on loans over $500. Please see our Rewards Page for details. 

Are Pawn Shops dangerous?

Today,  pawnshops offer a fair and often the only alternative to getting money  fast. As you might have seen on shows like PAWN STARS, today's  pawnbroker is upgrading everything from the interior and exterior of his  or her shop, employee presentation, customer service, signage,  marketing and quality of merchandise. We focus on providing exceptional  customer service and are very active in the community, both politically,  and in local charities.
RJ Jewelry & Loan Company has five  locations to serve you. 

We're here to help!

Under  the current credit crunch pawnshops are often the only real alternative  to insure you have access to cash when you need it most. Contrary to  common thoughts, pawnshops struggle in these hard times like any other  retail business. In hard times, customers move away to find employment,  have less ability to repay their loans, and the value of all merchandise  goes down. Merchandise values go down because the major retail  discounters sell for less to maintain or broaden market share. If retail  merchants sell for less, so will we, thus earning a smaller return.  Regardless of income level, most people periodically have to borrow  money. In good times, customers are more able to repay their loans and  unredeemed merchandise sells faster because customers have more  discretionary income. 

Do pawnshops attract indigents and derelicts?

Absolutely  not. Indigents and derelicts have no assets to use as collateral. No  one builds a business around the people who have the least. Our  customers are typically employed, living within a few miles from one of  our stores, and occasionally needs short term cash for an unexpected  bill such as a medical expense or car repairs. Shoppers and bargain  hunters come from all walks of life and are eager to find that special  treasure at often remarkable prices. Like any good business, RJ Jewelry  & Loan Company is built loyal, repeat customers.

Are pawnshop rates excessive?

To  provide the loan service, all lenders must charge rates commensurate  with risk, size and duration of the loan, collateral offered, and  recourse. Pawnshop loans are small dollar, short duration loans. The  item stands as the sole collateral offering no other recourse, and we  are liable for replacement value if something happens to the item while  in their care. There are no hidden charges or fees as with other lending  institutions. On the other hand, our cost basis is far greater. We  incur cost for security, handling, storage, and regulation not incurred  by others. Due to the 15-20% of pawn shop customers that elect not to  repay their loans, pawnbrokers are forced to turn their "bad debt" into a  retail center to recover their cost. Other lending institutions do not  incur retail cost including additional floor space, gondolas, counters,  personnel, advertising, shop lifters, retail competitive cost, and new  merchandise cost to supplement the unredeemed goods. 


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