Whether you’d like to admit it or not, most of us have come across a financial burden throughout our lives. Unless you are the son or daughter of a billionaire, there have been times where you needed some fast cash. It could have been for something as simple as paying the remainder of your rent or something more substantial like making payroll for your company. But just because you are short of cash at one point or another in your life does not mean you are poor. In fact it can mean the exact opposite. A lot of high net worth individuals have their money tied up in physical assets which makes it hard to get cash at the drop of a hat. But when you’re in that situation and need cash immediately what do you do? You really have two choices between a high end pawn shop or a bank. So which should you choose, high end pawnshop vs bank?
You can get a short tem loan at both a bank or a high end pawn shop. But if you need money fast, as in today, you need to go to a high end pawn shop. They can give you a cash loan right on the spot. Unfortunately, bank loans can take weeks or even months to complete and by that time the reason you needed the loan in the first place will be over. If you need cash immediately a high end pawn shop is your best option. What’s better getting cash today or filling out paperwork and waiting weeks or even months?
When your faced with the problem of needing cash now, you want to make sure it stays a short term issue. Going to a bank to get a loan is a good option, but they will check your credit. If you walk into a bank for a loan for your business, they will look at your sales, etc; but they will also look at your personal credit. If it’s not good enough say goodbye to that loan. However, at a high end pawn shop they aren’t interested in good credit. In fact, they’re not interested in credit at all. As long as you have the physical collateral (Rolex, diamond ring, Chanel handbag) to cover the loan, the cash is yours. You don’t have to worry about paying late or defaulting because it won’t hurt your credit.
Usually, when you apply for any sort of loan, whether it’s to lease or finance a car, get a mortgage on a house, etc; the first thing they look at is your credit. They want to know who they’re dealing with and what’s the probability you will pay back the loan on time. Let’s face it, if you don’t have good credit you will either be declined, not get the funds you need, or will be subject to paying higher interest rates. But when you go to a high end pawn shop to get a collateral loan they could care less about your credit. If you need $3,000 and have a Rolex Submariner they will give you the cash! And if you default on the loan they don’t mind because they have your watch as collateral that they can sell to recoup the loan.
A collateral loan from a high end pawn shop is under the radar. What do I mean by under the radar? The loan is not reported to credit agencies. This means that it cannot help or hurt your credit in any way. Having trouble paying back the loan? Don’t worry about it, you will not hurt your good credit. Also, a collateral loan is discreet which means no one will ever know you took a loan.
If you’ve ever tried to get a mortgage from a bank you know how complicated and time consuming it can be. You have to fill out paperwork for ever and ever just to apply for a loan. And then it can take the bank days, weeks, or even months to approve or deny you. At a high end pawn shop you don’t need to go through any of this. Most loans can be completed in 20 minutes or less.
If you need cash for a short term, think about going to a high end pawn shop vs bank. Pawn shops are much faster, simpler, and don’t hurt your credit. If you need cash today that is your best option.
