The basic rule is that if it is not illegal, and we dont have to feed it or water it, we can likely give a loan on it.
How do I actually get the loan. Okay, so in the example we are using the client came in with a nice Fender acoustic guitar and a case, both in excellent condition. The pawnbroker will take the guitar and have a good look at it, and if he can, cash money installment loans it for tone and action. Then, we do some on-line research on the value and availability of the instrument.
Based on that assessment the pawnbroker will offer a loan. In this case lets say the loan is for 200. The loan will be paid to the client in cash once the client agrees to the loan and completes some paper work.
Some of the lenders in our network may automatically renew your short term loan if it becomes past due. This term is clearly identified in your loan agreement.
You should check your loan agreement for your lender's policy on automatic loan renewal prior to e-signing it. If your loan is renewed, there will be additional charges as determined by your lender, and the minimum term can be set up.
Your lender may offer you other options in addition to renewal, including the ability to repay your loan in full at a later date or repay your cash money installment loans over time in a series of installments.
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