A helpful guide to pawn shop terminology
Every industry has its own terminology, its own internal lingo if you will, and the pawn business is no different. So as a public service, we have created this handy terminology guide to assist in your greater understanding of pawn shop methodology. Read and rejoice!
Pawn (same as loan) – A pawn is a collateral loan whose value is based on the item or items being pledged as collateral. All loan terms are regulated by the state of Arizona and the “not to exceed” level on interest and service fees. The term in Arizona is 90 days, but we offer an additional 30 days on loans as an added benefit. We take in just about anything of value, made the process fast and easy, and help you meet your financial goals. There is no credit check or limit to how much you can borrow.
Sell – For a standard purchase we typically bestow the same value on your item as we would a pawn loan. The difference between the two is, buys are final and cannot be redeemed at a later date, so if you are interested in getting your item or items back, a pawn loan is the preferred.
Trade – The trading of goods has a longstanding tradition in the Americas dating back to the first interaction between natives and settlers/explorers. The exchange of surplus materials for mutual benefit was an object lesson in empathy, trust and smart business that still exists today.
This is certainly true at TNT Pawn, where we offer trade-in on all items. We also have additional generous trade-in programs if you want to swap items that you originally purchased from TNT Pawn for other items in the store.
This is known as our upgrade policy. It typically applies to our jewelry sales, but we will always make our best trade for any items originally purchased with us. Let’s make a deal!
Promotions – We are always creating products and services that we believe best meet the needs of our customers. In just about every section of our store there are discounts available, free services provided and programs that let you purchase with confidence.
Financial Education – We are committed to helping you take control of your finances through simple and sensible practices, including budgeting and saving, keeping track of your daily expenditures, and reducing your living expenses.
You’d be surprised how some of the smallest changes can make the biggest difference in your financial wellbeing. Stop living paycheck to paycheck and start living!
We help you manage your account with late notices and one-on-one account reviews (at your request), and also monitor your account activity for added protection.