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Pawn loans allow you to borrow money quickly without a credit check or hassle. Bring us an item of value (and a valid photo ID), and we’ll get you money shortly after your loan is approved. Loans are based on the value of your collateral (the item you brought in) rather than your credit rating or pay schedule. A loan has a term length of 30 days. We also offer extensions and renewals to give you extra time if you cannot pay your loan back in full by its due date (including any applicable grace period). We offer pawn loans for various items, including gold and diamond jewelry, firearms, musical instruments, electronics, tools, and more.

A renewal allows you to reset the due date on your pawn loan if you cannot pay back your pawn loan in full by its current due date. You are required to pay the interest that has accrued to date on your loan in full. An extension on your pawn loan will then be written. The principal pawn loan amount and the interest remain the same, but the due date will be reset.

Most of our customers can repay their pawn loans and pick up their merchandise. However, if customers choose not to repay the pawn loan, their merchandise (the collateral) will be forfeited.

We use several research tools to determine an item’s value to get you the largest sum of money we can. Pawn loans are based on the item’s current appraised value, its condition, and our ability to sell the item in our store. Remember that the appraisal process varies from item to item- jewelry will be appraised differently than a musical instrument. We aim to get you the most money possible for each unique item.

Our staff considers several things when determining an item’s condition. We will perform a visual inspection, plug an item in and turn it on, and note if any necessary accessories and operating manuals are included, among other things. If a customer brings in a television that is in perfect condition, and another customer brings in the same model and size of television with a crack in it, we will obviously loan more on the television that is in perfect condition. The better the condition of your item of value, the more money we can loan you.

Market values determine the price of gold, and our staff routinely reviews the current market value of gold. The amount we can loan on different types of gold varies greatly depending on the karat of the gold. For example, 24k gold is priced significantly higher than 10k gold.

Our staff thoroughly tests each piece of jewelry that is brought in so that we may loan you the most money possible for your piece. When jewelry is used as collateral, we test the precious metals and diamonds to determine the item’s worth. Diamond testing includes a visual inspection using a tool called a jeweler’s loupe. We weigh the item, determine the carat weight of any stones, and note the cut, color, and clarity. We also test precious metals using a particular acid that determines the karat of gold. We do this to ensure there are no false readings on your item.

We are happy to answer several questions over the phone, and we will do our best to give you a dollar range for your item(s). Because loan amounts vary depending on the condition of an item, we need to see the item in person to assess its condition best and get you the most money possible. For electronics, we need to be able to plug the item in and turn it to determine its working condition. For jewelry, we need to be able to test the diamonds and gold to determine the carat weight of the stone(s) and the karat of gold. Unfortunately, none of these tests can be performed over the phone. We need to see the item of value in person to give you an accurate quote and the largest sum of money possible.

All pawn loan amounts are based on pre-owned (used) retail prices, rather than on what the item cost when it was new. The loan amount we offer you is based upon what we can sell the item for on our sales floor. We offer our customers the highest price we can while still accounting for the costs we incur on our end, such as storage costs, insurance costs, and business costs (sales associates’ pay, etc.).

Yes. While in pawn at Suffolk Pawn, we keep your item in a secure area and ensure all accessories (remote controls, user manuals, cables, etc.) are sufficiently stored with your item. Keep in mind that you still own the item while it’s with us in pawn, so it is completely our responsibility to ensure that your item is safe, secure, and in good condition until you come back to pay your pawn loan in full and reclaim your merchandise. Our store is fully insured for the collateral we keep on your behalf.

Yes. We accept firearms as collateral for pawn loans. We provide local law enforcement with information on every firearm we take in. As a registered firearms dealer, we must also comply with all federal regulations. We also offer online auction sites where customers can bid on and purchase firearms. Gunbroker.com works with dealers nationwide who transfer our merchandise to winning bidders and, of course, perform background checks.

This is a common misconception. In fact, less than one percent of items stocked are identified as stolen goods. Because pawn shops are highly regulated and work closely with law enforcement officials, pawn shops are actually the worst place to attempt to sell stolen property. We also share every pawn transaction with police departments nationwide via an online tool.