Contact us for any additional questions.

How does a pawn transaction work?

Pawn loans are convenient short term loans, made on non-recourse collateral items such as jewelry, musical instruments, cameras & electronics. Ownership remains with the borrower during the 4 month life of the contract. The borrower's collateral stands as credit for the loan. Collateral loan brokers business is built on repeat customers in need of a quick, convenient & confidential loan. Learn more about loans.

How long is my loan valid?

All states differ in lending increments. New York State law has a limitation of four (4) months on collateral loans that are renewable for those customers that require additional time for repayment. Remember: This is a collateral loan, you have not sold your merchandise, YOU have retained ownership of your valuables.

How do you calculate the loan value of my collateral?

There is no precise formula for loan vs. retail value. Much of our merchandise is disposed of at a competitive auction. We calculate our appraisal on what we anticipate the item to sell for at auction or its disposal.

What if I can't repay the loan?

You are under no obligation to repay the loan. However, to safeguard your collateral, interest is payable at the 4 month expiration date appearing on your pledge receipt. You will be notified by mail, as a reminder, of the maturation of your loan. O'Neill's bears any losses incurred at the sale.

Is my credit affected by this loan?

Absolutely not. Your loan information is strictly confidential and is not shared with other lending institutions.

Is my collateral protected?

Electronic protection is provided by a major security company. We do not provide borrowers insurance against loss by burglary or robbery. Great care is given to loan collateral to assure its safety while in our possession. Your own insurance coverage will protect you against any losses.

Should I sell it or pawn it?

If your item was a gift you have no use for or something you never wear, SELL it, turn it into cash, let go of those unwanted memories. However, if your item is something you cherish or get lots of use of or you are still "on the fence" and uncertain if you are ready to part with it, PAWN it, then you have the option of getting it back.

Have more questions? Please contact us for any additional questions.

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