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5 THINGS YOU NEED TO KNOW ABOUT PAWNBROKING

If you need cash urgently, a pawnbroking loan could be just the thing you’re looking for. But if you are not sure how pawnbroking works, here are 5 things that you need to know.

1) FUSS FREE

You do not need a bank account or credit rating. A pawnbroking loan is fuss free and all you need is a something of value. At MoneyMax, we accept a wide range of valuables ranging from gold, diamond and gem jewellery, precious metals and luxury timepieces.

2) INSTANT CASH IN 3 MINUTES

Pawnbroking loan is a quick and hasslefree short-term loan. Simply bring along with you, your precious valuable, yours and your guarantor's personal identification cards to receive a pawn loan. Just like that, you can receive instant cash in just 3 minutes!

3) 6 MONTHS LOAN PERIOD

You have 6 months to redeem your item before your item gets auctioned off. If you repay your item every month, your 6 months loan period will be renewed.

4) SURPLUS

You can actually earn something from pawning your item – that’s only if your item ends up being sold higher than the pawn amount you received for your item (plus other miscellaneous fees). Any outstanding surplus amount gotten from the auction will always be returned back to the pawner.

5) RENEW ANYWHERE

With the advent of contemporary pawnbroking, modern pawnbrokers such as MoneyMax today allow customers to renew their loan and pay interest on their pawn tickets at any MoneyMax stores. In the past, customers had to return to the original store where their items were pawned. The introduction of this new service offers busy individuals more convenience as they can better plan their daily schedules.    

If you want to know anything more, feel free to pop by at any MoneyMax store for a free valuation (we have over 35 stores islandwide) and our friendly staff will assist you!