5 things to avoid when using retail pawnbrokers in New Zealand

When you are in need of quick cash and are considering using a retail pawnbroker, there are a few things you should avoid doing in order to get the most money for your items and to avoid any potential scams. Here are 5 things to avoid when using retail pawnbrokers in New Zealand:

1. Don’t over-borrow

When you are borrowing money from a pawnbroker, you should only borrow what you need. This is because you will be charged interest on the amount you borrow, so if you borrow more than you need, you will end up paying more in interest.

2. Don’t pawn items that are not yours

Pawning items that are not yours is not only illegal, but it is also a bad idea. If you are caught pawning someone else’s items, you could be charged with theft.

3. Don’t pawn items that are not in good condition

Pawnbrokers will not give you as much money for items that are not in good condition. So, if you have an item that is damaged or broken, you should try to sell it elsewhere.

4. Don’t pawn items that are not valuable

Pawnbrokers are in the business of lending money against items of value. So, if you try to pawn an item that is not valuable, the pawnbroker is likely to reject your request.

5. Don’t forget to retrieve your items

When you pawn an item, you are essentially borrowing money against it. So, you will need to pay back the loan plus interest in order to retrieve your item. If you don’t pay back the loan, the pawnbroker will keep your item and sell it to repay the loan.