Arizona Firearms About Us

Pawning Vs. Selling

A pawnbroker is an individual or business (pawnshop or pawn shop) that offers secured loans to people, with items of personal property used as collateral. The word pawn is derived from the Latin pignus, for pledge, and the items having been pawned to the broker are themselves called pledges or pawns, or simply the collateral.

Here are the basic differences between pawning and selling.
* Ownership: The person selling something loses the ownership. A person pawning it doesn't lose possession unless he defaults on the payment.
* Status: If you pawn your stuff, you're technically a debtor of the pawnbroker and owe him money. When a sale is completed, there is no more any relationship between the buyer and the seller.
* Time Bound: There is no binding of time in a sale. A pawning agreement is for a period of time, but can be extended.
* Interest: The person pawning his possessions needs to pay an interest as agreed with the pawnbroker. There is no interest paid in a sale.
* Money: More often than not, you will get a higher amount for sale than you'd get by pawning, provided you wait for the right buyer.

The pawnbroker will very often lend you less than what the pawned goods are worth and you have to pay interest on it as well.

What is needed to pawn an item? 1. The item 2. Valid ID 3. Your loan is a 90 day cash loan DONT SELL YOUR GUN PAWN IT!!!!!!!!!