What is a Pawn Shop in Johannesburg
A pawn shop is in the business of offering loans against the personal items such as jewellery, automobiles, luxury watches and anything else that has an intrinsic value. Customers bring in their items and try to obtain a loan for a percentage of the fair market value of the item. Once the loan is issued to the customer, they are expected to make payments in return within a fixed period of time along with the interest.
The business of pawning has been in existence ever since the times of the Romans and the Greeks. There are many instances in the annals of history that trace back to the value of the pawn shops. Even though there are advancements, the fundamental principles of pawning are the same as before.
The most recent advancements in the business of pawning include online pawning and 24 hour pawn shops. Since 24 hour pawn shops ensure quick cash against the assets of a person, they have become one of the most widely accepted sources of funding in case of a financial emergency. Moreover, 24 hour pawn shops have the advantage of not having to seek physical pawn shops that would be open only for a fixed number of hours during the day.
So, what else are the benefits of 24 hour pawn shops?
No need to go to the shop frequently
With a 24 hour pawn shop, there is no need to visit the shop frequently. Each and every aspect of the pawn deal is handled through the internet. All you need to do is to send the pawn dealers a photograph of the item you intend to pawn along with a brief description of that asset and at a certain point, you will be able to determine whether the offer would meet your financial needs or not.
If the offer at one pawn shop does not meet your financial needs, you can always go to another 24 hour pawn shop any time you want and see whether you can get more money against your assets.
No emphasis on personal credit scores
Another major benefit of 24 hour pawnshop is that they do not place any emphasis on the personal credit score of a person unlike formal financial institutions do. The beauty of 24 hour pawning shops is that they place importance on the intrinsic value of your assets rather than on your credit score.
What’s more, in the event of a loan default, there is no opportunity for lawyers and other bureaucrats to get involved in the deal. You are not forced into any form of bankruptcy and do not have to sell your house or any other major asset to get some cash. You only end up forfeiting the right to the personal asset you pawned. Many 24 hour pawn shops such as the Pawn Fourways shops will work with you, if you are unable to make the payments on time.
Get the cash you need quickly
Finally, visiting a 24 hour pawn shop is the quickest way to get cash any time of day or night. You can get the cash you need quickly and without much hassle.