FAQs

A pawn is a collateral loan where we lend money on valuable items like jewelry, electronics, tools, and more. Once the loan is repaid, the item is returned. You can extend the loan term by paying storage and interest fees.

Pawnbrokers provide a quick, convenient, and confidential way to borrow money without risking overextending credit or bankruptcy.

Loan amounts depend on the item's value, demand, and condition. There is no minimum loan amount, but the maximum is set by state laws. Prices vary between pawn shops.

We assess the item's current appraised value, condition, and resale potential. Different items, like jewelry and electronics, are evaluated differently. We test all items to ensure they work properly.

Less than 0.5% of pawned items are identified as stolen. Customers must provide ID, and detailed descriptions are recorded and shared with law enforcement daily, reducing the chance of stolen goods being pawned.

Yes, pawn shops are regulated by federal laws like the Patriot Act, Truth in Lending Act, and Equal Credit Opportunity Act. We also follow FTC rules on data privacy and are regulated by the ATF for firearms. Local authorities license and regulate our shop.

About 80% of pawn loans are repaid. Repeat customers often borrow against the same items. We offer non-recourse loans, meaning we only look at the pledged items to recover our investment if the loan isn't repaid.

Interest is 6% of the loan amount, plus a $6 monthly storage fee. For a $100 loan, the total monthly cost is $12.

Yes, Ohio pawnbrokers are required by law to complete continuing education, similar to professionals like doctors and lawyers. This ensures they stay updated on industry standards.

We accept most items with a resale market value and in good condition. We'll consider anything of value! Visit Buckeye Pawn Shop Inc today.