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How to Pawn

Need Quick Cash but don’t want to Part with your Belongings?

A pawn loan lets you borrow money using your item as collateral.

1

Bring in your Item

We inspect it to determine value based on condition, demand, and state regulations. (Minimum loan is $10.)

2

Get Cash Immediately

Accept the loan offer and walk out with money in hand.

3

Repay & Reclaim

Pay back the loan within the agreed period, and your item is returned to you.

Safe and Secure

Your item remains yours while in pawn. We securely store it along with any accessories. All items are fully insured for loan value, giving you peace of mind.

Earn 1,000 Bonus Points

When you sign up for the Karat Rewards Program

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Rewards FAQ

FAQ

What’s a pawn loan?

A pawn loan is another name for a collateral loan. This is when money is lent in exchange for items of value, with the loan amount based on that item’s value. The item is returned when the loan is paid-off or can be surrendered as payment in full.

What is an extension?

If you’re unable to pay back your pawn loan in full on its due date, you can get an extension. With an extension, you are required to pay a portion of the interest owed. Then you may extend the length of your pawn loan for as many days as allowed by state law, usually 30.

What is a renewal?

If you’re unable to pay back your pawn loan in full on its due date, you may be able to get a renewal. With a renewal, you pay the interest that has accrued on your pawn loan in full, and a new pawn loan is written. The principal pawn loan amount remains the same, as does the interest rate, but the due date is reset for the full loan term.

Is a credit check required for a pawn loan?

No. The only requirement is a valid photo ID.

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