What Sets one Pawn Shop Loan Apart from the Rest in NY?

If you’ve been looking around the New York area you have undoubtedly seen that there are pawn shops popping up all over.  This is a common occurrence when the economy takes a turn for the worse, but it is important to note that many of these stores will not be here long once it turns around.  If you’re looking to get a cash loan from a great pawn shop then you want to go to one that’s been here a while, and that is Diamond District Gold Buyers.


Getting a Pawn Loan in NYC

Getting a Pawn Loan in NYCOne of the things that really sets DD Buyers apart from other places in New York is the fact that they offer hassle free pawn loans.  If you’d like to pawn gold or watches for cash then we’re the place to go.  It is important to note that when you pawn an item it is not the same as selling it.  We will take any type of valuable item you have including diamonds, watches, gold, silver and much more and give you a loan based on its value.  This is a great way to get the money you need without having to worry about where it will come from.

We’ve been making these types of loans for years, and all of our customers love the fact that they have access to this money whenever they need it.  Many people, for example, will pawn watches when they need money and then repay the loan when they are able to, and get their watch back.  Then, if they run into a difficult situation again, they can pawn the watch again for another cash loan!  This is essentially just like having an emergency fund in place for emergencies, but without the trouble of not spending the cash!


What If You Can’t Repay the Pawn Shop

This is perhaps the best part of a pawn shop loan.  If you’re unable to repay the loan for any reason, you don’t have to worry about getting harassing calls from collection agents or having your credit suffer for years to come.  Since you have left something of value as collateral the shop will simply keep the item as payment for the loan.  While this is not ideal since you didn’t want to sell the item, it is certainly much better than going through the trouble of dealing with an unpaid loan.

In addition, if you really want to keep your item but just need to get a little more time to repay the loan then you can extend the loan out for a small fee.  Most pawn loans last for about 4 months, but if you need a few more months just give the shop a call and we can extend it out for pretty much as long as you need as long as you’re able to make the payments.  You simply won’t find this kind of flexibility with any other type of financial transaction.