Frequently Asked Questions
Mission City Pawn Shop is committed to complete transparency in our business practices, striving to provide our customers with all necessary information to make an informed decision about their sale or purchase. We invite you to discover answers to common questions about our store and the pawning process.
How Does a Pawn Shop Work?
A pawn shop is operated by pawn brokers who buy and lend money on items of value. For collateral loans, the situation is straightforward:
- A customer comes in with an item and shows it to the pawnbroker.
- The customer and staff member agree on a dollar figure to loan or buy the item.
- The pawnbroker takes possession of the item.
- Customer identification is taken.
- A contract is signed and a copy of the contract and the pawn ticket is given to the customer.
- The customer receives cash for the item.
This simple process, applicable to both collateral loans and pawns, has been completed countless times, both making the customer happy with their quick cash and adding to our exclusive inventory.
What Can You Pawn?
Pawnbrokers will take almost anything with resale value. It is important to note that the pawnbroker is not obligated to accept the item, and exchanges consider many factors including:
- Item value
- Age
- Condition
How Can I Be Sure I’m Not Buying Stolen Property?
Less than 1% of all pawned or purchased goods are even suspected of being stolen. Thieves are a pawn broker’s worst enemy, and we work closely with law enforcement to catch and prosecute these predators. A customer must provide positive identification to complete any transaction. This information, along with a detailed description of the goods and serial numbers, if issued, decreases the likelihood that thief would bring stolen merchandise to a pawn shop.
Pawnbrokers are trained to look for signs of suspicious persons and signs of stolen property, working to avoid costly mistakes. It is not in the best interest of a pawn shop to accept any suspicious merchandise. If merchandise is found to be stolen, the police can seize it. The pawn shop is then at a financial loss. We at Mission City Pawn Shop, being in business for over 20 years, work on lines established by our municipality and local law enforcement. There may always be something that may slip through the system; and, if discovered, we will definitely honour the transaction. You can buy with confidence from Mission City Pawn Shop.
How Can I Ensure a Confidential Transaction?
With Mission City Pawn Shop there is no need to worry about the safety and confidentiality of your property, unless prior signed consent is provided. Mission City Pawn Shop does not give out any information regarding the transaction except when requested by law enforcement personnel, all of whom have the right to look at our files at any time.
What Is the Difference Between Buying from a Pawn Shop and a Retail Store?
A pawn shop is also a retail store with many new and used items for sale. Many pawned items are not claimed, and we purchase many at a fraction of the retail price. We must keep our prices low to keep our inventory moving. We can offer you substantial savings off retail prices on many popular items.
Do You Have a Layaway Plan?
Yes! Our “Simple 10” layaway plan is easy and affordable. Ten per cent down, 10 payments, 10 months. We will also consider a customized plan that suits your finances.
If you have a question not covered on this page, don’t hesitate to give us a call!
