DO YOU NEED CASH NOW?

Life often brings unexpected expenses; higher than expected electricity bill, car repairs, medical bill  -- the list goes on... Unlike traditional loans from a bank, a pawn loan can provide you with cash in hand immediately, dependent on the value of the items you already own. When you are in need of extra cash, and you have items that qualify for a pawn loan, please visit us at Economy Pawn where our staff would be more than happy to help and assist you!

PAWNING

If you're wondering how pawning works, you've come to the right place. A pawn loan is another name for a collateral loan. This is when money is lent in exchange for items of value, with the loan amount based on that item’s value. The item is returned when the loan is paid off or can be surrendered as payment in full.

So when you bring an item to Economy Pawn for a pawn loan, we’ll first inspect the item to determine its value. Loan amounts vary according to the item’s value. There is a $10 dollar minimum amount on a pawn transaction, however, loans can exceed $10,000 dollars. Your loan amount will be determined according to other factors as well, such as product demand and condition of the item.

Should you choose to accept the pawn loan based on your item’s value, you’ll get cash on the spot and will have a set period of time in which you have to repay your loan. When you return to pay back the loan, we’ll immediately return your item.

While your item is in pawn, you still own it. It is our responsibility to keep it safe and in good condition while it’s in our care. When you give us an item for a pawn, we keep all accessories (remote controls, cables, etc.) with your item and place it in a secure area. Your item is safely stored until you return to pay your pawn loan in full and reclaim it.

ESSENTIAL PAWNING RULES

  1. ID Required: We require a valid provincial or federal picture identification 

  2. Bylaw 5540/90 states pawned items must be held a minimum of 15 days after being pawned 

  3. Pawned items must be redeemed within 30 days 

  4. All extensions must be done in person

GET INSTANT CASH

This is our specialty! Whether we pay you outright or we lend you money on your pawned items, which you can redeem within 30 days. You can get CASH on the spot!