5 Significant Advantages of Pawn Loans

More and more people are today turning to pawnbrokers for securing fast cash. Every person in a lifetime may feel the need to raise some extra money for any reason.

And most people find it pretty embarrassing to spend hours at a bank or any other traditional financial institutions only to be declined, maybe for poor credit history or plight in attestation of paperwork. Overall, it is a waste of your precious time.

If you are in short-term financial needs and own any luxury asset like a Rolex watch, diamond or gold jewellery, turning to any trusted pawnbrokers is ideally always the safest move.

The pawnbrokers will lend you an instant cash loan, based on the current market value of the asset used as collateral.

Keep in mind that the items considered as collateral will vary from one pawnbroker to another. For instance, trusted pawnbrokers in Romford at Golden Cash lend against luxury watches, diamond and gold jewellery.

However, from getting your watch appraised to getting paid, the entire pawnbroking process may take as little as an hour to complete.

Thus, let’s today explore some significant advantage that a pawnbroking loan has over any other types of loan.

Get Instant Cash

Ideally, the most significant benefit of opting for a pawn loan is its proceeding speed.

get instant cash loan

Unlike other types of loans that typically take a couple of weeks for approval, a pawn loan will get you access to cash immediately.

You only need a luxury item to keep as collateral for the loan. Your pawnbroker will assess your asset and make you a credit loan offer on the spot. Accept it, and you will get your cash right away.

No Credit Checks

Pawnbrokers do not carry out any credit check before approving a loan. Thus, whether you have a good credit score or a bad one, your pawnbroker won’t bother to ask or check.

no credit checks

While visiting professional pawnbrokers like at Golden Cash in Romford, Essex, carrying collateral like any luxury watch or jewellery is enough to qualify for a pawn loan.

However, the amount of credit loan you are likely to obtain from your pawnbroker will only be based on the value of your asset.

Get More than One Loan at a Time

You can pawn more than one asset at a time with pawnbrokers and secure multiple loans as per your need.

Also, you can use the same asset as collateral as many times as you want.

However, banks or other money-lending institutions are not this flexible. You will be only allowed to take out one loan at a time.

Assets are Stored Securely

Every item pawned with Golden pawnbrokers is kept in secure vaults during the contractual period.

You can retrieve your asset anytime, by paying off the original loan amount and the interest due. However, whenever you head in to redeem your asset, you will get it as you left it.

Minimal Paperwork

Golden Cash pawnbrokers in Essex only ask for a valid proof of identification before entering an agreement. And if you accept our loan offer, you will have to sign only a pledge receipt that outlines your loan terms.

Banks and financial institutions may take ages to approve you a loan because of their varied protocols, and it can get on your nerves.

Thus, if you want to raise fast cash, visit our shop at The Liberty Shopping Centre in Romford, Essex with your asset.

We will appraise your asset precisely and make you a cash loan offer on the spot.

However, whether you want to pawn jewellery or get a loan against a Rolex watch, you will receive the highest possible amount of credit against your asset.

Fill up our online form now and get a free competitive loan quote shortly. Or call on 01708 751518 today and speak to one of our experts at our Romford Shop.

Gold and Pawnbrokers Essex

goldencash

Gold has been a constant all throughout history.Gold was first discovered as shining, yellow nuggets and was first discovered in its natural state,in streams all over the world. Gold was the first metal known to early hominids and from very early on became a part of every human culture. Its brilliance, natural beauty, and luster, and its great malleability and resistance to tarnish made it enjoyable to work and play with.

Gold has always been powerful to the beholder. The earliest history of human interaction with gold is long lost to us, but its association with the gods, with immortality, and with wealth is common to many cultures throughout the world.

Early civilizations equated gold with gods and rulers, and gold was sought in their name and dedicated to their glorification. Humans almost intuitively placed a high value on gold, equating it with power, beauty, and the cultural elite. And since gold is widely distributed all over the globe the same applies nowadays, with selling and buying gold being a common transaction carried out in almost all cities over the world. In almost all countries you can find someone willing to give or get cash for gold.

In ancient times gold was made into shrines and idols, plates, cups, vases and vessels of all kinds, and of course, jewellery for personal adornment. Later on gold coins were created making it a currency that was commonly accepted. The first use of gold as money appeared in 700 B.C., when Lydian merchants produced the first coins.

This monetary standard made the world economy possible. The concept of money allowed the World’s economies to expand and prosper.

The history of Pawning is probably just as old as the history of gold.

The history of pawnbroking began in the earliest ages of the world. Lending money on portable security is one of the oldest professions. Pawnbrokers Essex have been around for many years.

So how does pawning work? An item is taken to the pawnbroker who lends an amount of money to the owner of the object. The item is held by the pawnbroker for a certain length of time. If the owner returns within the agreed time limit and pays back the money lent plus an agreed amount of interest, the item is returned. If the loan is not paid within the time period, the pawned item will be offered for sale by the pawnbroker.

The word pawn comes from the Latin word pignus or ‘pledge’, and the items being pawned to the broker are called pledges or pawns. Pawnbrokers came to England with the Normans and the settlement of Jews in England.

In our time even though gold as a currency has been replaced by other inexpensive metals, it still has value even in the form of jewellers or items and statues. The price of gold varies according to time and location, however, there are many who opt to get cash for gold by visiting Pawnbrokers Essex.

Due to the fact that gold has kept its value throughout the centuries allows owners facing financial difficulties to sell gold Essex. At Pawnbrokers Essex you can have your items assessed based on the quality and price of gold at the time and immediately get cash loans.