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Albuquerque is a huge market for
pawn shops, and if you are looking for a payday loan or a short-term loan,
a pawn shop is a good place to start.
Not all pawn shops will offer payday loans (a payday loan is an
advance on a paycheck, where the borrower must have proof of income and
provide information for a quick credit check), but they are all in the
business of providing short-term loans to those in need of quick cash.
At Albuquerque pawn shops, you’ll
find a huge variety of pawn shops, including those that specialize in
certain products. Crest Pawn
Shop has two locations in Albuquerque, but it seems that the main product
desired as collateral for short-term loans in Albuquerque is jewelry.
Jewelry has a higher resale value than many other items, as it is
difficult to damage a good stone, so most jewelry pawned is in
near-perfect condition.
Classic Jewelry & Loan has
three separate locations of Albuquerque pawn shops where you can take your
fine jewelry and trade it in for a short-term loan (which usually requires
repayment within approximately 30-90 days, depending on the policies of
the pawn shop). You could
also hawk your diamonds or gold at Old Town Jewelry & Loan Company or
J R’s Classic Jewelry & Pawn. All
of these locations specialize in jewelry and are sure to appraise the
precious stones or metals fairly (although you should never expect to
receive top dollar for your items, and you will only receive payday loans
equal to about half the amount of the resale value).
Should you default on payday loans, the pawn
broker becomes rightful owner of the collateral, so be sure that you
either do not care if you lose your items (never pawn family heirlooms
that you wish to pass on), or that you are certain that you can repay the
short-term loan within the set period, along with the set interest.
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