Frequently Asked Questions

A: Pawnbrokers lend cash on anything valuable. The items can be diamond jewelry, gold, televisions, tools, musical instruments, and many other things. The item holds value over a short period of time and is easy to store, like jewelry. All customers put down collateral. Loans can be small, averaging between $50 and $100, although they can be as little as $5 or as much as $50,000, depending on the value of the collateral item. The process is like other lending institutions, with the main difference being we hold your valuable item as collateral. We keep your valuable item until you are able to pay off the loan.

A: Pawnshops offer you a fast, easy and confidential way to borrow money. When you need cash a pawnshop will help without the need for a credit check or legal actions if the loan is not repaid. You would get a percentage of the value the broker believes your item would bring in a sale. Although the loan-to-collateral ratio changes over time and in pawnshops, a loan around 30% of the resale value of the collateral is standard. When you pawn an item, terms of the loan are on a pawn ticket that we give you. The ticket has your name, address, type of identification you gave us, an item description, loan amount, and interest & maturity rates. The ticket will also show the amount that must be paid to receive the item back. Most states determine pawnshop interest rates, storage, and insurance fees.

A: If you are not able to pay back a pawnshop loan from a pawnbroker then they keep the items you brought to secure the loan. The loan is then considered as paid in full. They will then sell your valuable items in their store.

A: The standard pawn agreement is 90 days, but if you keep paying the monthly fee... you can take as long as you need to buy the items back.

A: Don't worry! As long as you have your government-issued valid photo ID you will be able to redeem your item(s), it is no problem.

A: Larry's Pawn Shop takes gold, silver, and platinum and jewelry with or without diamonds. This can be bracelets, necklaces, rings, earrings, cufflinks, watches, and more. We also accept gold, musical instruments, automobiles, tools, firearms, TVs, gaming systems, and much more. As long as your item is in decent condition, then we will consider it for a loan. Stop in our call if you want to find out if we will take your item for a cash loan.

A: Our process is fast and easy. We will determine a loan value in only a few minutes, and you will be on your way with cash in hand. All loan business done at Larry's Pawn Shop is always discreet and confidential.

A: Your collateral is safely stored, packaged, and labeled with a unique loan number matching the number on your loan slip. We store your collateral securely. Upon loan repayment, we return the collateral to you. We have been in business for over 38 years and have earned an excellent reputation. We always provide honest service and integrity in all our cash loan services.

A: The state of Florida mandates that loans are written for 90 days.

A: You may request Larry's Pawn Shop to re-pledge your property for another 90 days. If agreed, we will create a new ticket after you pay all interest and fees.

A: We are not able to create loans through the mail, but, you are able to make an interest payment on your loan by mail with a money order or cashier's check. Please visit one of our eight convenient locations to discuss how we can help you.

A: Yes, pawnshops are registered firearms dealers with permanent locations. Pawnshops follow all Federal (ATF) regulations and provide local law enforcement with information on all transactions. As licensed and registered dealers, pawnshops follow the 5-day waiting period. We require background checks on all firearm purchases under federal, state, and local laws. Federal firearms regulations require an individual to be 21 years old to buy a handgun and 18 years old to buy a long gun. Pawnshops offer a unique service by taking guns as collateral for cash loans. Pawnshops are the only type of business that takes guns off the streets and keeps them locked away in secure vaults. There are 1.5 million estimated firearms secured in pawnshops across America.

A: To provide pawn services, all lenders must charge rates compatible with size, risk, and loan duration. This includes the collateral offered, and recourse. Pawnshop loans are high risk, short term, small-dollar loans. The item you give is the only collateral offering no other recourse action. There are no hidden fees like you can find with other lending institutions. Pawnbrokers cost basis is much greater. They aquire cost for handling, security, storage and regulation not incurred by other types of lenders. Due to the 15-20% of pawnshop customers that do not repay their loans, pawnbrokers have to turn their debt into a retail store to recuperate cost.

A: Less than one-fifth of one percent of all collateral merchandise is even suspected of being stolen. Thieves are a pawnbroker's worst enemy. Pawnbrokers work with local law enforcement to catch and prosecute thieves. Pawn tickets are electronically sent or mailed to the local Police Department each day. A customer has to provide matching identification to show evidence of the transaction. This information is given to the police department. This decreases the likelihood that a thief would bring stolen merchandise to a pawnshop. Pawnbrokers have the training and will look for signs of stolen property to avoid costly mistakes. Pawnbrokers do not want to take in stolen merchandise because the police can seize the merchandise at any time. The pawnshop owner then loses both the collateral and the loaned money.

A: Yes, as long as they have the loan slip you received when you pawned your items. They will need a valid, government-issued photo ID. However, if the item is a firearm or vehicle, you will be required to come in person to get your item(s). We take the safety of your valuable items very seriously.

A: All rates and fees are regulated by the Department of Commerce and Division of Financial Institutions in the state of Florida. Fees are typically between five and ten percent.

A: We are licensed and pawn shops in the State of Florida are regulated by city, state, county, and Federal regulatory agencies. Pawnbrokers have state, regional and national industry associations which self-policing the industry. In the case of public companies, the Federal Securities and Exchange Commission can also regulate the industry.

A: You only need to bring a valid, government-issued photo ID, and the item(s) you want to sell or borrow against.

A: That will depend on the condition and value of the item(s) you're looking to sell or borrow against.