How Does the Cash Loan Process Work?

April 21, 2015
Hollywood Pawn Shop

We understand how stressful it may be finding yourself in a financial crunch, so we make the Cash Loan process quick, easy and hassle-free. Simply bring in an item of value; we will evaluate it within a few minutes and make you an offer. Alternatively, you can submit a Quote Request Form on our site, where you can provide a detailed description of the item and provide pictures in order for our sales representatives to get a better idea of the item you have and the condition it’s in . Once submitted, someone will review and respond as soon as possible!

When you bring in an item, you have two choices; Pawn or Sell. When “pawning” an item, you are essentially storing the item with us while you take out a loan at approximately one-third of its market value. The term for any pawn is always four months from the day it is submitted. At Hollywood Pawn Shop & Jewelry, we offer a ten-day grace period, so that your precious valuables are not lost in the event that you cannot make it in time to take care of the loan; however, the price will climb a bit higher for each day that passes in those ten days.

Pawns are usually evaluated at about 30% of the item’s market value. The item you use as collateral will be sealed and safely stored away in our safe and secure storage unit. Once you’re ready to pick up your item, you can come in, pay the amount we lent you, plus an interest fee, and pickup the item you left as collateral. The process is that easy.

Note: All account locks & links such as iCloud/Google/etc. must be removed/logged-out at the point of sale/pawn in front of the clerk in order for the transaction to take place.

Please don’t hesitate to contact us at (818) 551-0111 with any questions regarding the Cash Loan process.

 

Policies & Disclaimers:

 

  • When submitting an item for pawn, please always make sure to bring some sort of container for it to be stored in if it is a sensitive/fragile item, such as a laptop, camera, smartphone, or tablet. Hollywood Pawn Shop & Jewelry is not liable for any accidental damage that may occur while storing or moving the object under reasonable conditions.
  • Any time a Pawn transaction is made, the customer is responsible for the ticket provided, and is required to return the ticket when redeeming or re-writing the item, or pay a Lost Ticket Fee of $10 each.
  • The pawn terms are always 4 months from the day the pawn was made. As of 4 months after that date, the item is due, and it is late thereafter. We offer a 10-day emergency grace period, so that if something comes up, you won’t be in danger of losing your item. However the price climbs a little higher, for every day the customer is late thereafter, and will incur late fees.
  • If a customer is unable to come and either rewrite or redeem the loan in time, they are responsible for getting in touch with a representative, and arranging an alternative solution or requesting a short extension (a few days) so that the item is not lost. Otherwise, the item is assumed to be abandoned, and will be foreclosed. NOTE: If the customer has sensitive or important data on any devices pawned, it is their responsibility to create a backup or otherwise fulfill their end of the agreement and redeem the item.
  • All sales in the shop are assumed to be final. It is the customer’s responsibility to inspect the item well in the shop and request to test it. If for any reason there seems to be a problem with an item bought at the shop, the customer must reach out to us within 72 hours of the point of sale.

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