At Sol’s Jewelry and Pawn, we are one of the oldest pawn shops in the KC area. Our full-service operation is well known for our jewelry inventory, and we take pride in knowing we exercise nothing but the utmost ethical business practices in everything we do. We have earned a reputation for honesty, and that is something we are committed to protecting. In an effort to help you understand what our pawn shop in Kansas City does, we will do our best to explain how everything works.
How Our Pawn Shop in Kansas City Works
In its simplest terms, a pawn shop functions as a loan office and/or lender. When people are in personal financial binds, they can come to us to get a short-term loan in exchange for an item of equivalent monetary value. Like any other bank that would issue a loan, you accrue interest on your short-term loan. In Kansas, loans are for 30 days with a 60-day grace period, and your first month’s interest accrues the moment the loan is made. By paying your interest, you may extend your loan. You may redeem your loan at any time. However, in the event that you were unable to pay your interest or redeem your item(s) for a period of 90 days total, we then have the legal right to take possession of your item(s).
What Are the Benefits of Using a Pawn Shop?
When you need money quickly, you have several options. Working with a pawn shop offers you some unique advantages, that other options do not.
- Reduced Risk. If you use a credit card and you miss a payment, your credit score will suffer. If you aren’t able to make your payment with a pawn shop, you only lose the item. Your credit score will not be affected.
- Choose Your Collateral. You can get cash for items around your home. You get to decide what items you bring in, giving you more freedom and more choices
- Fewer Complications. With many methods of getting quick cash, you find yourself filling out mountains of paperwork only to wait for approval–which you might or might not receive. Using a pawn shop is a quicker, more straightforward way to get the money you need.
If you have additional questions about our state-of-the-art pawn shop in Kansas City, do not hesitate to reach out to us. We make ourselves available to you so you can always make the decision that is best for your needs and you can leave as a satisfied customer.
For more information, call (913) 371-4043 – we look forward to serving you.
Proudly serving the Greater KC community.