So how does a pawn shop work?
Money is lent on any item of value. Loans can be tiny or large, depending on collateral.
There is no application to file or credit check involved to apply for a loan. Regardless
of your past credit history, pawning is a secured collateral loan similar to a mortgage.
We will not investigate your employment or credit score. The borrower must be 21
years of age and we do require proper identification at the time of transaction.
Descriptions of pawned items are reported to the SCPD.
Interest and service charges are regulated by New York State, and there are no hidden
fees. All loans are good for four (4) months. The loan is redeemable at anytime
and can be renewed upon expiration just by paying the interest and ticket charges
due. The borrower retains ownership of the pawned item the duration of the loan.
The borrower is under no obligation to return for their item and O'Neill's bears
any losses incurred at the sale. Items that are pawned are usually redeemed by the
original owners, but if not, shoppers have the opportunity to purchase at a fraction
of the retail price.
Come in and check us out for great DEALS on out of pawn and second hand merchandise.
There is a 30 day guarantee on all electronic equipment purchased.
Interest Rate - New York State interest of 4% per month is calculated
from date to date. There is no partial payment of a month's interest. A two (2)
day grace allowance is given.
PLEASE KEEP YOUR PLEDGE RECEIPT IN A SAFE PLACE.