Pawn Loans in North & South Dakota
First National Pawn
First National Pawn always lends you the most cash
in a matter of minutes!
Pawn Your Merchandise
It is common to think that pawning an item is the same as "selling" it. However, a pawn is a cash loan for collateral. At First National Pawn you can borrow cash today on your valuables without having to sell them. If you think you might miss your special something or it has sentimental value, you can get your valuables back after you pay off your loan.
The 4 most frequently asked
questions about pawn shops
What is a pawn loan?
How does a pawn loan work?
Pawn loans are a simple form of collateral credit. Cash is given in exchange for an item that the pawnbroker - that's what we call the person who gives the loan, holds onto as security, or collateral, until it is completely paid back. Once the pawn loan is paid back the item is returned to the customer.
Of course that is the simple answer. There are a few other steps involved that people want to know about so here is an example of how it works.
It starts when a customer needs immediate cash and comes into one of our pawn shops in North & South Dakota with an item they would like to pawn.
The value we put on an item varies as well. First we consider the needs of the customer and start every interaction with a desire to get you what you need. We find that when we build relationships with our customers, it becomes less about the value of the stuff, and more about the value of the earned trust between the store and the customer.
What can I pawn?
How much is my stuff worth?
When we assess the value of the item we look at its current value but we make the pawn loan based on the resale value of the item. The type of item being pawned and its condition makes a difference in the loan value as well. Some of the higher value items include:
- Gold, high end watches and jewelry
- Up to date electronics
- Tablets and smartphones
- Quality guitars and musical instruments
These items bring higher loans, but almost any item can be pawned including household goods, entertainment systems, tools, costume jewelry, and more. The basic rule is that if it is not illegal, and we don't have to feed it or water it, we can likely lend cash over it.
How do I actually get the loan?
It's as easy as 1-2-3!
- Bring in your stuff and present it to one of our friendly First National Pawn associates who will give you an appraisal in minutes.
- Show us a valid picture ID.
- You walk out with cash.
The whole process takes about 10 minutes with no credit check and no hassle. We will protect your stuff while you put the money to good use.
What happens if the pawn loan is not paid back?
We make every attempt to have each and every item that is pawned picked up by the person who pawned it. However, sometimes even after repeated attempts to contact the customer the item goes unclaimed. In that case, the item becomes our property and is put out on the sales floor with a price that's meant to sell. Our mistake is your bonus!
First National Pawn is more helpful than a bank because you can borrow small amounts of money – without hassle. We don't need financial information, proof of employment, and you never have to fill out a loan application. Bring your valuables to any of our pawn shops and you will receive top cash immediately.