Five Common Misconceptions About Your Local Pawn Shop in Norwich, CT

October 24, 2018 11:07 pm Published by Leave your thoughts

If you are like most people, then you will gladly welcome a good deal. And sure, you can find some fantastic deals on new items for sale at the mall, but what about all the unique and interesting merchandise sold at pawn shops? The items at pawn shops may not be brand new—in fact, many items bear scars showing years of use by a previous owner. However, just because an item is used does not automatically mean it has a lesser value or that it has very little life left in it. Another great thing about pawn shops is their willingness to let folks pawn valuables for a fast cash loan.

Have you never been inside a pawn shop because you’ve only heard negative things about them? It’s time to get informed! Let’s take a look at five common misconceptions about your local pawn shop in Norwich, CT:

  • Pawn shops are unregulated: This is absolutely not true. Pawn shops are businesses just like any other type of business, and are required by law to follow state regulations, as well as the regulations put in place by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF). There are also laws set down by the Truth in Lending Act and the Equal Credit Opportunity Act. All these laws were created to protect the interest of the sellers, and to ensure that people who sell to pawn shops get the best possible deal for their items.
  • Items in pawn shops are junk: An experienced pawn shop won’t put its reputation on the line for a few bucks. If a person brings in a rundown or junky item to pawn or sell, a smart shop will pass (unless a beat-up item has value and can be fixed before going out for sale). The truth is, most pawn shops sell a wide variety of items that are in exceptionally good condition.
  • Limited selection of merchandise: Although some pawn shops may specialize in a certain type of merchandise—like musical instruments, jewelry or firearms—that doesn’t mean they don’t carry other items. Most shops deal in a wide variety of items, so take the time to look through the entire store for unique finds.
  • Everything at pawn shops is stolen: This couldn’t be further from the truth! Due to very strict regulations, pawn shops are not allowed to sell stolen goods. They are held to the same standards as all other kinds of stores. Most pawn shops require anyone pawning an item to produce documentation of ownership. Additionally, shop owners typically work closely with local police to ensure that individuals in possession of stolen merchandise are dealt with properly, and that stolen items can be returned to their rightful owners.
  • Only people who need money use pawn shops: Although pawning can lead to a quick cash loan, that doesn’t necessarily mean the person is in dire need of money. You might not need or want an item anymore, so why not get some cash for it?

Whether you are looking for a unique and affordable gift for someone special or need cash now, AZ Pawn & Guns has got you covered. Visit your local pawn shop in Norwich, CT today!

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