Frequently Asked Questions

How does a pawn loan work?

Pawn loans are an easy way to get quick cash. Loans are based on the value of the item pawned. The term of the loan is one month plus a 30-day grace period. If you cannot pay back your loan within that timeframe, we offer extensions and renewals to give you additional time. You can also decide to not pay off your loan and surrender your merchandise.

What type of identification do I need to get a loan?

A state issued ID or driver's license (less than one year expired), an immigration card or passport.

What is an extension?

If you cannot pay back your loan in full on the due date, you can get an extension. You will be required to pay a portion of the interest owed which will allow us to extend the loan up to 30 days.

What is a renewal?

If you cannot pay back your loan in full on the due date, you can get a renewal. You will be required to pay all of the interest that has accrued on your loan, which will allow us to write a new pawn loan for you. The original pawn loan amount remains the same.

How do you determine how much to loan me on my item?

Loan amounts are based on the value of the item, its condition and our ability to sell it if needed. Our management team has many years of experience with valuing merchandise. Since we are a locally, owned and operated pawnshop, we do not rely on a computer program to tell us how much your item is worth. Our desire is to loan you top dollar on your item.

Are pawnshops regulated?

Yes, pawnshops are regulated at the local, state and federal level. The state of Texas licenses pawnshops through the Office of Consumer Credit. We are audited regularly to ensure compliance. In addition, we are subject to many federal laws including but not limited to the Patriot Act, Truth in Lending Act, Federal Trade Commission Rules on Data Privacy and Security Transfer and Federal Firearms Licenses.

How old do I have to be to buy a gun?

We follow all state and federal laws. You must be 18 years old to purchase a long-gun and 21 years old to purchase a handgun. In addition, you must pass a federal background check.

Isn’t everything in a pawnshop stolen?

No. We work closely with local authorities to prevent and identify stolen merchandise. Customers are required to show identification when pawning or selling an item. Less than 1 percent of items are identified as stolen. We train our staff to be on the lookout for stolen property. It is not in our benefit to take anything that is presumed stolen since it will most likely get confiscated by the local authorities.

Do you offer layaway?

Yes. We offer a 90-day layaway plan with 20% down. Our customers find this to be very helpful during the holiday season.

Are my items safe while in pawn?

Yes. It is our responsibility to keep your items safe. Once they are pawned, they are placed in a secure, climate-controlled location.

Why do you need my social security number?

Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. Effective October 3, 2016, Pawn Shops will be required to comply with an amendment to the Military Lending Act (MLA) concerning new terms for extending credit to service members and their dependents.

The MLA amendment requires all Pawn Shops to verify the military status of loan applicants and their families through a MLA website. This requirement makes it necessary to enter your Social Security Number.

Pawnbrokers must now determine if the borrower qualifies for a MLA rate loan. Each borrower must now perform a covered borrower check to identify whether a pledgor qualifies for the MLA rate loan. The MLA website provides the ability to verify whether an individual or their dependent is currently serving on active duty in the U.S. military. Once the request has been processed, the website will provide a MLA Certificate reporting the active duty status for the individual. You will need this certificate to proceed with the loan process. The printed certificate must be kept attached to our copy of the original loan document, for examination purposes.

Thank you for your patience as we comply with this new federal requirement!

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