Pawn loans are perhaps the simplest and most straightforward types of consumer credit available. That because a pawn loans are what's referred to as secure loans, meaning that the lender keeps a item of the borrower's as collateral to cover the cost of the loan in case of a default. While it may feel more unconfortable or inconvenient at first to leave an item behind as collateral, it can really help the borrower in the long run.
Payday loans, for example, are unsecured, meaning that the lender does not require any collateral in case the borrower defaults. To offset this risk, payday loans often carry very high interest rates, and/or rely on harsh or harrassing collection techniques. Auto title loans aren't much different in that the borrower keeps the vehicle for the term of the loan, for that reason auto title lenders often assume the same risk and respone as payday lenders. Most importantly, unsecured loans can have a lasting affect on your credit score, or else hold borrowers hostage in an endless cycle of repayment, often costing several times more than the amount of the original loan.
Additionally, in California, our consumer loan interest rates are state regulated, meaning that there is a set amount of interest we're allowed to charge on loans up to $2500 dollars. Many payday and auto title lenders won't even loan you anything under $2500 for this reason. In contrast, according to the National Pawnbrokers Association, the average pawn loan amount is $200. This is especially helpful in cases where you may only need a couple hundred dollars to pay the bills or buy groceries, without committing yourself to outrageous interest charges.
If you're looking to get a simple, straightforward, and fair jewelry pawn shwop, look no further than Oceanside Jewelers. We offer top dollar loans on Jewelry, Diamonds, precious metals, coins, and boullion. Being a full service jeweler and jewelry pawnbroker, our expertise allows us to make top dollar offers on your items. As a jewelry pawn shop we make, repair, restore, as well as buy and loan on jewelry, and our philosophy is not shake as much as we can out of a borrower, but to build a honest relationship with a customer who will want to take advantage of the rest of our services. Allow us to to make our best offer and show you why Oceanside Jewelers is the best place in North County for jewelry pawn!
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