VA Premier Pawn debunks your common misconceptions about Pawn Shops
- Pawn Shops Are Dirty
The Showroom here at VA Premier Pawn is our baby. Our mission is to make each customer leave feeling like a rockstar. In order to achieve this we aim to make sure our showroom is in pristine condition at all times. We mindful of how important cleanliness is. It directly correlates to the quality of the product or memory of the service you leave our store with.
- Pawn Shops Rip People Off
Unfortunately we are not a fool proof industry. There are select shops making a poor image for the rest of us. What we can assure you here at VA Premier Pawn is that fair and haggle free transactions is the only way we roll. We understand how valuable your transactions are to you and would frankly, rather you come back to us again than make a few extra bucks one time.
3. Pawn Loan vs. Sell
This is one of the largest misconceptions in the industry! Simply put, a Pawn is a loan – you give us your item to babysit as collateral to the lump sum we give you for its value. You make payments back on its value until you pay the full amount and take your item back home with you. A sale or sell is just that! You sell us your item, we pay you cash on its value and we then own that item to place on our shelves to sell.
4. The Pawn Industry is Unregulated
All pawnbrokers must be licensed and insured to operate. Not only this, but all must have a local and state pawnbrokers license and local precious metals permits. The interest rates all shops are allowed to charge on loan transactions are federally and locally regulated. This means different localities may charge different rates however they are federally regulated on top of that.
5. Pawn Shops Are A Last Resort
While some transactions handled here might be a customer’s final stop, the majority of the time our clientele are very familiar with our shop. They will come looking for a specific item here first before the big name stores with monumental price inflations. We highly recommend clients to begin here for luxury goods and jewelry especially. Did you know the big name jewelry stores are known to place sometimes up to a 2000% mark up on the cost of their pieces simply for being sold through their storefronts?