Pawn Your Items
FOR ALL OF YOUR CASH NEEDS!
The Cash Store provides collateral loans or pawn services. Our staff is here to make the process as fast and easy as possible for you. We strictly adhere to all local and state regulations (VA code 54.1). Furthermore, we are fully licensed, bonded and insured. We are regulated by the same governing body (Virginia Bureau of Financial Institutions) that oversees the banks of Virginia. Our operating license must also be re-approved each year, as well as our insurance bonds. The state of Virginia also requires that all scales and measuring instruments be recertified yearly.
To offer such loan services, the Cash Store always fulfills the above requirements, as well as providing insurance to protect you, our valued client. By strictly adhering to rigid internal and external guidelines, customers immediately gain confidence that the Cash Store is and will remain a very solid operation.
How does the loan process work?
- You bring in something you own and leave it as collateral for a loan we loan as little as $20 and will loan up to $500,000). Items accepted include:
- Jewelry (solitaires, gemstones, certified diamonds, necklaces, bracelets, rings, any gold jewelry)
- Watches (Rolex, Omega, Breitling, Patek, Cartier, current or antique, mantle clocks, gold, platinum or stainless steel)
- Gold or silver (any condition, jewelry, scrap, coins, flatware, bars, etc.)
- Coins & currency (gold or silver, US coins or foreign gold coins)
- Autos, motorcycles, boats, jet skis (clear titles are required)
- Hunting, sporting, fishing equipment (open to almost any type of merchandise)
- Construction equipment dump trucks, bobcats, bulldozers, cement mixers, etc.)
- Tools (Milwaukee, Dewalt, Snap-on (hand, gas or electric), drills, lawnmowers, etc.)
- Electronics/computers (Apple, Dell, Sony, video games, arcade games, stereo equipment)
- Musical equipment (Marshall, Martin, Fender, Yamaha, Guild, Selmer, guitars, drums, wind instruments and more)
- Artwork (paintings, lithos, bronzes) Artists of all genres are accepted, including Remington, Picasso, Renoir, Peter Max, etc.
- Mink coats (black llama) Coats must be in good condition (any style, any color).
- Collectibles (sports memorabilia , autographs, figurines, etc.)
- Leave the item with the Cash Store staff. It will be stored in a secure private vault or storage area.
- Items remain private, unseen by the public and usually never touched until you retrieve the item.
- We do have insurance on the loans but always suggest you keep all private insurance active and current simultaneously.
- When you repay the loan plus charges, you get your collateral back.
- The full amount must be repaid, typically in cash or wired funds.
- If you need a longer time period to retrieve your property, no problem! We do offer loan extensions as often as you like. Paying the monthly fee on or before your due date will extend your terms.
- As an extra convenience we accept all types of payments (check, cash and credit cards) for the monthly extensions.
- Credit card payments are accepted by phone.
- If you don't repay the loan, we keep the collateral:
- Choosing not to retrieve the item does not affect your ability to continue to do business in the Cash Store. We understand circumstances change, thus your priorities change. No worries, no hard feelings.
- There is no limit to how many transactions you can make or how frequently you may borrow money from the Cash Store….and you may have several loans at the Cash Store simultaneously.
- The Cash Store does encourage all customers to borrow within their means. The Cash Store always conducts business in an ethical manner to provide all customers ample opportunity to retrieve their valuables.
Licenses and permits held by The Watch & Jewelry Exchange
- State of Virginia business license
- Fairfax County/City Precious Metals
- State of VA $50,000 Licensed Bond
- VA State Scales and Measures Certificate
- Auctioneers License
- GIA Grading Certificates
- Fairfax City Occupancy
Detailed example of a loan:
In getting a loan, a customer will receive a Virginia state and federally approved loan ticket which clearly indicates:
- The full description of the item that you pledged against the money borrowed.
- The amount of money loaned and the actual cost of the loan.
- The amount of money due in 30 days to get the item back or the amount due to get an extension.
Using a $100 loan example:
- You can return to the Cash Store within the first 30 days and pay the full amount, $113 ($100 principle + $13 in fees), to retrieve your item.
- You can return to the Cash Store and pay the monthly fee ($13, in this case) to extend the loan for another 30 days.
Or pay nothing else and allow the Cash Store to keep the collateral.
Why pawn an item at the Cash Store?
A bank is not going to touch a small loan. Furthermore, any size loan takes weeks or months in order to process the application. The Cash Store is a quick, easy way to get a loan. Our average loan is about $800, but we do loans of every size and do not discriminate against any dollar amount.
IMPORTANT! VA regulations for which all clients should be aware (please note that the statutes are summarized for key and concise points).
§ 54.1-4008 Interest chargeable: Greater rate of interest than ten percent per month on a loan of $25 or less, or seven percent per month on a loan of more than $25 and less than $100, or five percent per month on a loan of $100 or more, secured by a pledge of tangible personal property. Loans may be renewed based on the original loan amount. Loans may not be issued that compound the interest or storage fees from previous loans on the same item.
The Cash store must care for and protect all of the tangible personal property in possession and protect the property from damage or misuse. Nothing in this chapter shall be construed to mean that the pawnbrokers are insurers of pawned property in their possession.
The Cash Store serves as a bank in providing quick and convenient cash loans. Collateral is the basis for the amount of the loan; not your credit, paycheck or employment. Length of the loan terms are never restricted, nor does the monthly payment ever change. For more information, please call, email or visit. The Cash Store will always be willing to detail any business transaction that you may require!
