Frequently Asked Questions
Whatever reason you have for selling your items, there are several options to list items for sale. These include Pawn Shops and online marketplaces such as Craigslist, Facebook Marketplace, and eBay. Below offers some advantages Pawn Shops offer that online marketplaces cannot.
One significant advantage of Pawn Shops is that you don't have to sell an item to get the cash you need; you have the option to pawn it. Pawn Shops specialize in offering short-term collateral loans. Once you have redeemed your loan, you can collect the item you pawned as security. Collateral Loans are a great solution that no online marketplace can offer.
Photographs or item descriptions can be misleading, even if the seller intends not to mislead anyone. There is no substitute for looking at a product you want to buy in person. When you buy at a Pawn Shop, you can avoid the disappointment many online buyer experiences when they receive what they purchased online.
With Pawn Shops, you don't run the risk of overpaying for fake or stolen goods. All items are carefully vetted and have cleared a Police Report so that you can shop with confidence. Pawn Shops require a valid ID for all intake transactions. Every product's serial number, along with a detailed description, is forwarded to the local Police. It's the last place a thief wants to bring their stolen property; that said, you're much more likely to find suspicious products on an online marketplace than you would in a Pawn Shop.
Pawn Shops are one of the most regulated industries in Canada. Unlike online marketplaces such as; Facebook, eBay, Craigslist or Kijiji. These platforms are great for selling to a broad audience, but unfortunately, they embody many scammers, so it's buyer beware.
Established Pawn Shops such as Nuway Deals have years of experience dealing with various products. Pawn Shops will do the necessary research to determine a reasonable value for an item.
Our layaway program allows you to pay the item off over 90 days. Note: You can secure the item you want at Nuway Deals with a 25% down payment, followed by three monthly payments. No proof of income or credit check is required. In addition, we don't charge any fees or interest.
It's easier to negotiate with a friendly, knowledgeable employee at a Pawn Shop than with a total stranger using an online marketplace. By talking to someone face-to-face, you're likely to have a more enjoyable experience.
With sites like Craigslist, Facebook Marketplace, or eBay, it takes time to create a good listing. You must write a compelling headline and description and add high-quality images. Without marketing experience, this can be challenging. Once you've listed your product, the waiting starts. There is no guarantee that your product will sell or that you'll receive bids once you list it. Pawn Shops are entirely different. Whether you want to sell something or Pawn it, you can get the cash you need on the same day you take it to a Pawn Shop.
Mainly price. Pawn Shops can offer you significant savings over retail. Sometimes ranging from 1/2 or 1/5 off of retail prices.
Less than one-fifth of one percent of all collateral is even suspect as having been misappropriated in any manner. Thieves and robbers are a Pawn Broker's worst enemy. Pawn brokers work closely with local law enforcement to catch and prosecute these perpetrators. A customer must provide identification to show evidence of the transaction. This information is then presented to the police department daily, decreasing the likelihood that a thief would bring stolen merchandise to a Pawn Shop. Pawn Brokers are trained to look for signs of stolen property to avoid these costly mistakes. It is not in the Pawn Broker's interests to accept potentially stolen items because the police can seize the merchandise, and the Pawn Shop owner loses the collateral and the loaned money. It's not just about the money. It's following the accepted principles of right and wrong that govern the conduct of this profession.
Pawnshops offer the consumer a quick, convenient and confidential way to borrow money. A short-term cash need can be met with no credit check or legal consequences if the loan defaults. A customer receives a percentage of the value the broker believes the collateral would bring in a sale. Although the loan-to-collateral ratio varies over time and across Pawn Shops, a loan value of about 50 percent of the resale value of the collateral is typical. When a customer pawns an item, the loan terms will print on a pawn ticket for the customer. The Pawn ticket states the customer's name, address, type of identification provided to the pawnbroker, a description of the item, amount lent, maturity date, interest rate, and the amount paid to redeem the pawned item.