LOANS FAQ

• How do pawn loans work?

  Pawn loans are the quickest way to borrow money without a credit check. Loan amounts are based solely on the value of your item that is used as collateral.

  Pawn loans in Washington State are 30 days plus a 60-daygrace period (90 Days Total). If you cannot pay back your pawn loan in full, including any applicable charges, you may choose to renewal it to give you extra time. You may also choose to surrender your collateral as payment in full.

  We can provide pawn loans on a variety of items, including Gold Silver and Diamond Jewelry, electronics, collectibles, antiques, and more. Simply bring us an item of value, along with a valid state issued ID and we’ll get you cash within minutes of your loan approval.

• What is a loan renewal?

  If you are unable to pay back your pawn loan in full before the final due date and take your collateral home, you may choose to renew it by paying all interest and fees due to bring it current. You will be issued a new ticket good for another 90 day period, just like the original loan.

  You may also renew your loans using our exclusive Axels Mobilepawn App.

  Call for details on Mobilepawn: (509)535-2251

• Will I lose my pawned item?

  The majority of customers repay their pawn loans and pick up their items. If a customer chooses not to repay or renew the pawn loan prior the final due date the merchandise/collateral for the loan is forfeited and put out for sale. Axels Pawn also purchases items of value if you do not wish to pawn your item.

• How do you determine an item’s worth?

  Axels Pawn bases pawn loan amounts on the value of the item being pawned. We research the item’s current appraised value, the item’s current condition and our ability to sell the item. Sometimes we do extensive research by reaching out to niche appraisers in our large network of partners.

  Our experience staff will always offer you the highest value for your items, if you only need less than that we are happy accommodate you. We are available for consultation in person or via phone anytime during our hours of operation.

• How do you determine the condition of an item?

  The condition of an item is always taken into account during the appraisal process for a pawn loan or sale. If one 32-inch television comes in that is in perfect condition and one 32-inch television comes in with a crack in the case, we will loan more on the TV that’s in better condition. Most other merchandise is tested and checked to ensure it is in working condition. The better the condition of your pawned item, the more money we are able to loan you.

• How do you determine the value of jewelry?

  When jewelry is the collateral for a pawn loan, we test the precious metals and diamonds to determine value. Diamond testing includes a visual inspection with a jeweler’s loupe and electronic testing using state of the art equipment. We also weigh the item and determine the size, cut, color, and clarity of each diamond.

  Aside from our visual inspection, we also test jewelry using various other testing methods which will let us know the number of precious metals contained within the item. Once the item is weighed and assessed we will offer as much as we are able.

  We also have a very sensitive diamond tester that will recognize lab grown diamonds, a new product that has recently hit the retail market. Lab grown diamonds still have value though it is significantly less than natural diamonds. We will also check any of your jewelry for lab grown diamonds at no charge.

• How do you determine the price of gold?

  Our staff updates the spot value of silver and gold every morning to assure you are getting the most we can offer.

  The price of gold changes constantly due to a variety of factors. Some common factors include the following:

  • Market speculation
  • Currency valuation
  • Worldwide demand
  • Gold production
• Do you give quotes for items over the phone?

  We are not able to give specific quotes over the phone; however, if you are unsure about whether or not your item qualifies for a pawn you are encouraged to give us a call at any of our locations. We may be able to give you a wide range of possible loan values but we must see the item in person and conduct full testing before giving out an exact quote.

• Why does the loan amount differ from the selling price at retail stores?

  Our pawn loan values are based on pre-owned retail prices, not what the item cost when it was new. Any collateral that is turned over to us and made available for sale is pre-owned and will be priced accordingly on our sales floor. The loan amount we give you is based on that selling price—and our ability to sell the item.

  We offer you as much as we can while still allowing room to pay for the cost of storage, insurance and other costs of doing business.

• Is my collateral safe while in pawn at Axels Pawn?

  While your item is in pawn, you still own it. It is our responsibility to keep it safe and in good condition while it’s in our care. When you give us an item for pawn, we keep all accessories (remote controls, cables, etc.) with your item and place it in our secure pawn item room. Your item is safely stored here and remains untouched until you come back to pay your pawn loan in full and claim your merchandise.

• Are pawn shops regulated?

  Yes. Washington State regulates the pawn industry. Axels Pawn is licensed and regulated by local authorities as well. We are subject to such federal laws as Truth In Lending Act, Equal Credit Opportunity Act, Fair Credit Reporting Act, Patriot Act, and Federal Trade Commission Rules on Data Privacy and Security Transfer.

  We are also long-standing members of both the Washington. State Pawnbrokers Association and the National Pawnbrokers Association