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Chilliwack’s No.1 Pawn Broker Since 1992
WHAT IS PAWNING & HOW DOES IT WORK?
What is pawning and how does it work is a common question we receive. Pawning an item is a long honoured tradition, and a remarkably simple process. Back before banks offered credit cards and lines of credits freely, there were Pawn Shops. For hundreds of years Pawn Shops have been the way many would be able to deal with short term cash flow issues. If you had an item of value, and needed cash, you took it to the Pawn Shop.
Find out how much your item is worth with a free estimate, or by visiting us today. We’d be glad to help!
- You bring an item of value and photo-ID.
- We agree on a loan amount to pawn your item for.
- We do 5 minutes of paperwork to finalize the pawn loan.
- We give you cash.
- We securely store your item for up to sixty days.
- When you're ready to redeem your item, you pay the interest for the time used.
- You get your item back!
We loan on, and sell, gold and gold jewellery. Need money and have some gold lying around not being used? Is your gold sentimental but you need some cash to help solve a short term cash flow need?
Then we would be happy to help cover that need by providing you with a pawn loan against your gold.
WHAT’S MY ITEM WORTH?
We’ve seen it all: Lawnmowers to Ferrari’s, powdered gold to Cartier masterpieces and everything in between. One thing’s for sure; we rarely see the same thing twice, and that makes the items we pawn or buy extremely unique. No doubt your item is complex and unique, and that’s why we would never try putting a value to something we haven’t seen.
Anything of value to you is of value to us. You can tell us about your item here and we’ll do our best to get back to you as quickly as possible.
WHAT DO I NEED?
All you need is the item you’ll be using for collateral, and a valid government-issue photo ID such as a Driver’s License or Passport!
If you are bringing in any battery-powered items, such as smartphones, please ensure they are charged to atleast 50% so that they can be tested. Bringing a gas-powered tool? Make sure to have gas on hand so that we can see it running!
DISCLOSURE STATEMENT – Pawn loans are available to anyone 18+ with a government issue photo-ID (No credit or employment checks are required).
Pawn loans are on a 60 day term. Your loan is meant to be paid back in full within this time frame.
General Items Pawn Loans
Charges include 3% interest plus 17% for storage and administration, per 30 days of used time.
(Example: A $100.00 loan would cost $120.00 if redeemed within the first 30 days, or $140.00 during the next 30 days.)
Loan amount offered is dependent on the collateral and can range from $10.00 to $999.
Pawns are, at minimum, $5.00 per 30-days. Heavy and/or large pawned items are subject to minimum $15.00 per 30-days.
Jewellery Pawn Loans:
Jewellery loans under $500 are 3% interest, plus 12% for storage and administration, .
Jewellery loans $500-$999 are 3% interest, plus 7% for storage and administration.
Jewellery loans $1000 and greater are 2.65% interest + $2.35 administration and insurance fees per $100 increment of the principal value*
Loan amount offered is dependent on the collateral and can range from $10.00 to $10,000.00.
Pawns are, at minimum, $5.00 per 30 days.
If the pawn has lapsed and no payment has been made on the current term, the pawned items become property of Common Exchange Chilliwack.
A grace period of 7 days is offered as a courtesy, during which Common Exchange will not dispose of your items. Use of this period is an additional fee equal to your pawn’s 30-day charge.
For more details please see a Common Exchange Chilliwack Ltd. Representative.