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Snyper
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posted Hide Post
quote:
I don't know what happened after that because the exchange made me sick, and I left. I have every belief that what happened was the youngster paid the interest, then left the store. At that point the pawn shop had even LESS in the firearm than the ridiculously low amount that was probably paid initially.


If the guy truly had other bills that needed to be paid, the pawn shop owner was doing him a favor extending the loan another 30 days

It makes no difference how much he "had in it" because he's not buying it.

It's collateral on aloan.

Pawn shop owners aren't "taking advantage" of those who come in asking for money.


One shot , one kill
 
Posts: 197 | Location: North Carolina | Registered: 13 December 2002Reply With Quote
Doubless
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posted Hide Post
quote:
Pawn shop owners aren't "taking advantage" of those who come in asking for money.


I guess if you consider 15%/month a reasonable loan rate, you are correct. I see things a bit differently, so we shall just agree to disagree.
 
Posts: 4748 | Location: TX | Registered: 01 April 2005Reply With Quote
Gatogordo
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posted Hide Post
quote:
Originally posted by Doubless:
quote:
AFA pawn shop owners go, they are not a charity, they are in a business to make money AND they provide a last ditch service for thousands of people every day that usually have no bank account, and no other resource for quick cash.


I see pawn shops as taking advantage of folks down on their luck, and doing it willingly. One incident I witnessed at a local pawn shop several years ago, and I will leave the subject alone.

I was in one of our local shops when a young man came in, wanting to redeem a firearm he had pawned. The owner of the shop told him "Hey, man. It is easy to see you are good for the loan. Just pay me the interest, and use the rest of your money to pay the other bills. Your rifle isn't going anywhere; just pay me the interest."

I don't know what happened after that because the exchange made me sick, and I left. I have every belief that what happened was the youngster paid the interest, then left the store. At that point the pawn shop had even LESS in the firearm than the ridiculously low amount that was probably paid initially.

And so it goes: the man comes in every week to pay the "interest", in effect giving back to the pawn shop what it originally loaned against the item. Then the man hits a rough spot and loses his job. At that point, all bets are off, and the pawn shop puts the rifle on the sell rack with virtually nothing in it, since it has been paid back for what was originally loaned. What the rifle sells for is then pure profit, and the young man down on his luck is long forgotten.

I am sure there are pawn shops that tout themselves as being very fair. Somehow, I find that pretty hard to believe. I have seen what they offer on firearms, and I have seen the prices they put on them when they are put up for sale.


If it so damn unfair, then you should have opened a "FAIR" pawn shop years ago and put all those cut throat bastards out of business.

If someone needs money then pawning is an expensive but vital resource. I would guess that 95%, at least, of the people who come into pawn something would not be able to get the money at a bank or anywhere else. No one that I know of is forced by those greedy pawnbrokers to use their services.


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Posts: 17099 | Location: Texas USA | Registered: 07 May 2001Reply With Quote
Doubless
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posted Hide Post
quote:
f someone needs money then pawning is an expensive but vital resource.


Fixed it for you. I have probably spent far more time in pawn shops looking around than you have, but maybe not. I have seen people coming back a week after buying something and trying to get some money back, and the sell it again price was about 20% of the purchase price. I know; I watched it happen to a friend diagnosed as a manic depressive. In a moment of euphoria, he bought about five grand "worth" of stuff from a pawn shop, and I was with him when he returned after whatever form of "reality" he had came back. His "offer" from the pawn shop was short of a grand.

Tell me again. I am done with this thread. In short, pawn shops are not vital. They are used, and I fully understand that if there were no market, there would be no pawn shops.

I am just different. I would rather give and get by on less than have people taken advantage of when down on their luck. I am no better than anyone else, just different.

Like I said: I am done with this thread. I obviously don't know what I am talking about, experience or not.

Fat Cat, you might want to read the OP again. Three bills for two custom rifles? Yeah, sure: the pawn shop was "just trying to help the seller out."

I think you would do well as a pawn shop owner. You think just like they do.
 
Posts: 4748 | Location: TX | Registered: 01 April 2005Reply With Quote
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