PAWN LOAN INFORMATION

 

  1. Dave’s Gold, Antiques, Pawn (NMLS #1273628) is licensed and bonded through Pennsylvania Non-Depository Banking. We are committed to the highest degree of confidentiality. Private appointments are encouraged.

  2. Payment - All Pawn Loans are paid by Check Only!

  3. Pawn Ticket – It is your responsibility to read the information on the back of your Pawn Ticket. In signing you are agreeing to everything contained on the Pawn Ticket.

  4. Pledged Items - You must be the rightful owner of your Pledged Items to be pawned. They must be free of any liens (no outstanding payment plans or money owed). Your items will be held with the utmost security in mind (see #13 below).

  5. Pawn Loan Percentage – Pawn Loans are based on an average of 25% of the Fair Market Value (not Appraisal Value) of your Pledged Items. This percentage will go up or down based on the secondary market demand for your Pledged Items. There is a minimum Pawn Loan of $100.

  6. Interest and Fees - We charge the PA State maximum of 3% per month (36% annualized) Interest on Pawn Loans. Interest is not compounded. It will be pro-rated based on the actual length of time your Pawn Loan is outstanding. There is a $1 Loan Fee for each Pawn Loan.

  7. Loan Term – 4 (four) months with a 3 (three) month Grace Period

  8. Redemption - You cannot redeem your Pawn Loan until after 3 (three) business days (Manheim Township requirement). At that time “you” alone must present your Pawn Ticket. You must pay off the entire Loan Balance plus Interest and Fees “in cash” before you can get back “any” item on that Pawn Loan.

  9. Late Notice - You will receive a Late Notice on any amounts owing at the end of the 4 month Loan Term.

  10. Partial Loan Payment – You may make Partial Loan Payments on the Loan Balance only when you have paid all outstanding Interest and Fees.

  11. Settlement - The Loan Balance and any unpaid Interest and Fees are due at the end of the Loan Term. However, the Pawn Loan will stay active as long as you continue to pay Interest and Fees. Keep in mind your balance owed must stay below the 125% threshold (see #12 below). In addition, the Pawn Loan may be cancelled, due to a loss in value of the Pledged Items, any time after 8 (eight) months from the beginning of the original Loan Term.

  12. Non-Payment – If at any time what you owe (your Loan Balance plus unpaid Interest and Fees) reaches 125% of the original Pawn Loan (noted on your Pawn Ticket), you will relinquish ownership of your Pledged Items.

  13. Insurance – Your items are not insured while under the Pawn Loan. Dave’s Gold, Antiques, Pawn uses due diligence to protect the safekeeping of your items, but it does not insure them against loss.

  14.  Lost Pawn Ticket – If you lost your Pawn Ticket you may still redeem your Pawn Loan with a current Driver’s License.

     

1955 Fruitville Pike, Lancaster, PA 17601 --                                  -- dave@davescollectibles.com

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