Pawn Loans in Canada

Cash Canada

Get cash at the last minute with a pawn shop loan. A pawn shop loan is like any conventional collateral loan, except it can be tailored exactly to your needs and what items you have.

A pawn loan is a simple easy way to get some cash. A pawn loan works like this; you bring us your stuff, we give you a loan, 30 days later you pay us back, we give you back your stuff. Our professional pawn brokers are experts in lending you more for your stuff.

At Cash Canada, we can offer you a loan over your jewelry, gold, electronics, smartphones, tablets, computers, sports goods and more!

Check out our most popular categories below.

Pawn shops have been around since the 1500ís in Italy where the concept was introduced by the Medici family in an effort to provide a credit source to the unbanked. Read more

The 4 most frequently asked questions about pawn shops

Pawn Question 1 | Cash Canada

What is a pawn loan?

How does a pawn loan work?

Pawn loans are a simple form of collateral credit. Pawn loans are given in exchange for an item that the pawnbroker, thatís what we call the person who gives the loan, holds onto as security, or collateral, until the loan is paid back. Once the pawn loan is paid back the item is returned to the client.

Of course that is the simple answer. There are a few other steps involved that people want to know about so here is an example of how it works.

It starts when a client needs a loan and comes into one of our pawn shops with an item they would like to pawn.

We lend anywhere from $5 to $10,000 plus depending on the value of the item that is being pawned. The value we put on an item varies as well. First we consider the needs of the client and start every interaction with a desire to get you what you need. We find that when we build relationships with our clients, it becomes less about the value of the stuff, and more about the value of the earned trust between the store and the client.


Pawn Question 2 | Cash Canada

What can I pawn?

How much is my stuff worth?

When we assess the value of the item we look at its current value but we make the pawn loan based on the resale value of the item. The type of item being pawned and its condition makes a difference in the loan value as well. Some of the higher value loan items include:

  • Gold, high end watches and jewellery
  • Up to date electronics
  • Tablets and smartphones
  • Quality guitars and musical instruments
  • Collectibles

These items bring higher loans, but almost any item can be pawned including household goods, entertainment systems, tools, costume jewellery, and more. The basic rule is that if it is not illegal, and we donít have to feed it or water it, we can likely give a loan on it.


Pawn Question31 | Cash Canada

How do I actually get the loan?

Okay, so in the example we are using the client came in with a nice Fender acoustic guitar and a case, both in excellent condition. The pawnbroker will take the guitar and have a good look at it, and if he can, play it for tone and action. Then, we do some on-line research on the value and availability of the instrument. Based on that assessment the pawnbroker will offer a loan. In this case letís say the loan is for $200. The loan will be paid to the client in cash once the client agrees to the loan and completes some paper work.

In order to get a loan the client needs to show 2 forms of picture ID and agree to the terms of the loan. A pawn loan is for 30-days at the cost of $30 per hundred dollars borrowed (5% interest plus 25% storage fee). Other optional charges such as insurance could apply. In our example the client who pawned the guitar will come back in 30 days and pay back $260 and have his guitar returned to him. If they canít pay the full amount, they have the option to pay by the day for the extra time needed.


Pawn Question 4 | Cash Canada

What happens if the pawn loan is not paid back?

We make every attempt to have each and every item that is pawned picked up by the person who pawned it. However, sometimes even after repeated attempts to contact the client the item goes unclaimed. In that case, the item becomes our property and is put out on the sales floor with a price thatís meant to sell. Our mistake is your bonus!


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