04 Feb Myths and Facts About Boca Raton Pawn Shops

Who to Trust for a Boca Raton Pawn Loan?

Pawn shops serve a valuable purpose for many people. Unfortunately, a great many misconceptions and myths about pawn shops have been circulated among the general public. At Barry’s Pawn & Jewelry, we want you to know the real truth about pawn shops and how these enterprises can provide added help for customers who need it while delivering bargain prices for shoppers. Here are some common myths and the real facts about pawn shops.

Myth: Pawn Shops Are Dirty and Dangerous

Most pawn shops serve their local communities with short-term loans and with sale items in good condition. For example, our Boca Raton pawn shop is clean and well lit. Our clientele primarily consists of local people who need cash on a short-term basis and of bargain hunters who are looking for great deals. At Barry’s Pawn & Jewelry, we take pride in the appearance of our shop and work to make you feel comfortable during your visit.

Myth: Pawn Shops Sell Stolen Goods

While movies and television programs often depict pawn shop owners as fences for stolen goods, this stereotype is harmful and untrue. Pawn shop owners are legally required to comply with all local, state and federal laws to receive and maintain a license to operate a pawn shop in Florida. Without this license, the pawn shop could not operate in the state. Additionally, significant financial penalties can be levied against pawn shops that do not comply with the letter of the law.

Myth: Pawn Shops Charge High Interest

The interest charged by pawn shops is regulated by Florida law and is in line with other short-term lending options.

Myth: Pawn Shops Try to Cheat You

Pawn shops rely on repeat customers to stay in business. Your Boca Raton pawn loan will typically be for a significant portion of the value of your item. The difference between the amount for which the pawn shop will sell the item and the amount you receive is necessary to cover overhead costs for operations. Barry’s Pawn & Jewelry has been in business for more than three decades thanks to our commitment to integrity and fair dealings with our long-time customers.

Myth: Pawn Shops Are Criminal Enterprises

At Barry’s Pawn & Jewelry, our Boca Raton pawn shop is a family-owned and operated business that has been in business since 1987. Three generations of our family have been involved in running our pawn shop and have built a reputation for integrity within our community. Our longevity as a business is your best indication that our business operations are transparent and legitimate.

Fact: Pawn Shops Offer a Useful Service for Customers

A Boca Raton pawn loan offers some real benefits for customers, including the following:

• No credit check is required. Your loan will not affect your credit in any way.
• Funds are disbursed immediately.
• It is possible to take out multiple loans with adequate items of collateral.
• If you cannot repay your loan within the agreed-upon period, the pawn shop will release your item for sale without further consequences to you.
• The same item can be pawned, paid off and reclaimed multiple times, which can allow you to enjoy greater peace of mind when financial emergencies occur.

If you apply for a bank loan, the amount outstanding on your Boca Raton pawn loan will not be considered when determining your eligibility for these financial arrangements.

Barry’s Pawn & Jewelry offers friendly and helpful service for customers seeking a Boca Raton pawn loan or those looking for the best deals on a variety of items. If you are looking for a quality pawn shop, give us a call today at 561-349-7829 or stop by our store at 6485 North Federal Highway in Boca Raton. We look forward to meeting you.