Frequently Asked Questions
PAWNING, COLLATERAL LOANS & SELLING
How does pawning work?
When you bring in your item we first assess what your item is worth – a fair market value. We work to find what an item just like yours is selling for TODAY using various web sites.
We will then tell you what the fair market value of your item is and lend 10-50% of it’s value to you. The percentage will depend on season, market trends and condition of your item. ALL ITEMS ARE TESTED.
You can walk into our store and receive a CASH loan in a matter of minutes with NO credit check and NO background check… NO threat of bill collectors, collection agencies… nothing but your simple promise to pay us!
Why do you only loan or buy on a percentage of the value and not the full value?
The only leverage that we have to protect ourselves is the value of the collateral versus the amount of money loaned against it. If the item is worth $200.00 Fair Market Value and we loan $150.00 aginst the value, it would be very easy to abandon the loan and justify the $50.00 loss. It is a lot harder to abandon the loan if we lend $40.00 (20%) against the same $200.00 item.
We buy items from our customers the same way, NO background check and a simple promise that they OWN what they are selling to us. Sometimes an item will sit for a long time before the right person sees it and buys it. Sometimes an item’s value will drop while waiting to be sold (we can’t put things out for sale until AFTER 30 DAYS of purchase due to police background check). We take the risk that the items being sold to us are not stolen or have some hidden deffect.
That is why we pay 10% to 50% of the FAIR MARKET VALUE and pay attention to seasonal demand, market trends, condition and quality.
Pawning vs. Selling
If you want to reclaim your item, then you want to Pawn your item – the process of obtaining a loan on the value of your merchandise. If you don’t want it back then you can sell it to us.
What type of identification do you need?
We take photo ID for all collateral loan and selling transactions. We have a multiple layers of security and also require a thumbprint scan for the protection of our customers.
What are the loan terms and rates?
All loan terms are STATE REGULATED and are the same at all Oregon pawn shops.
- New loans are 90 days, renewals 60 days.
- Unlimited number of renewals.
- Interest rate: 3% per month.
Other fees that may apply to your loan:
- Setup = 10% of the loan amount
- Storage = 5% of the loan amount
- Firearms fee = $3.00 if applicable
ALL PAWNSHOPS ARE REGULATED BY THE STATE OF OREGON: DIVISION OF FINANCE AND CORP SECURITIES
What happens if the loan expires? What happens to my item?
If your loan Expires, the item(s) that have been pledged as collateral become property of Tigard Pawn 4 More and may be sold or scrapped to recover the store’s investment. Sometimes, but not always, you may be able to negotiate the recovery of your lost items.
The key to success is not to let your loan expire, because your loan is coming due, it is not necessary to pay the loan in full, you can RENEW the loan for an additional 60 day period just by paying the accrued finance charges. The RENEWAL option can be very helpful for someone on a tight budget, allowing more time to acquire the repayment funds needed. At Tigard Pawn 4 More, there is no limit to the amount of times you can renew your loan.
Can I get my item earlier than 90 days?
Yes, you can pay your loan at any time during the loan period, in some cases, not all, you may receive a discount on the interest charges by paying early. It is best to talk with us to determine weather or not you would be able to receive a discount.
What happens if I don’t have my ticket?
A $3.00 lost ticket fee will be charged if you don’t have your ticket when you come to pick up your item. You will need photo identification to pick up your item.
Do you take credit cards?
Not for loan fees but we do for purchases of merchandise. ALL LOANS ARE EXTENDED IN CASH AND MUST BE REPAID IN CASH.
Gun Selling or Pawning
Gun background checks are required for ALL guns leaving the store whether they are for loan collateral or an outright purchase. This is performed through the Oregon State Police and they charge $10.00 per transaction. Typically this process takes about 15 minutes but can take as long as 2 hours.
Some transactions may be DELAYED and will take 3 to 6 weeks to complete. This is usually due to a need on the OSP’s part to verify details regarding an incident or individual’s record.
ALL HANDGUNS LEAVING THE STORE REQUIRE A TRIGGER LOCK. Bring your own or purchase one from us for $5.00.
All firearms transactions require current AND legible state-issued I.D.
Can you quote me a value over the phone?
No, we do NOT quote prices over the phone, it is hard to assess the value of your item without looking at it and confirming all parts, condition and working order.
Are there things you don’t take?
Yes, here is asmall list of what we don’t take: Stolen Property, Sports Cards, Comic Books, Large Appliances, Furniture, Certain Brands (please ask).
Do you do payday loans or title loans?
No, we don’t. We offer quick and easy collateral loans only.
Do you do a background check on items?
Yes! Everything we buy and loan on goes through a Police background check. WE DO NOT WANT STOLEN MERCHANDISE.
SHOPPING
Is there any warranty on items I purchase?
No. All merchandise sold “as-is”. We will be glad to assist you with setting up and testing the items you are considering to ensure that you are comfortable with your purchase.
Gun Purchase
All gun purchases go through a background check. This is performed through the Oregon State Police and they charge $10.00 per transaction. Typically this process takes about 15 minutes but can take as long as 2 hours.
Some transactions may be DELAYED and will take 3 to 6 weeks to complete. This is usually due to a need on the OSP’s part to verify details regarding an incident or individual’s record.
ALL GUNS LEAVING THE STORE REQUIRE A TRIGGER LOCK. Bring your own or purchase one from us for $5.00.
Do you take credit cards?
Yes! We take credit cards for purchases only.
