faq

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

If you’re unable to pay back your pawn offer 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 offer for as many days as allowed by state law, usually 30.

If you’re unable to pay back your pawn offer 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 offer in full, and a new pawn offer is written. The principal pawn offer amount remains the same, as does the interest rate, but the due date is reset for the full offer term.

No. The only requirement is a valid photo ID.

We provide offers on just about everything! Including but not limited to these common items:

-  Gold and Diamond Jewelry

-  Watches - premium designer brands and fashion watches

-  Televisions

-  Laptops, tablets and all-in-one PCs

-  Cell Phones

-  Cameras, lenses and camcorders

-  Designer sunglasses & handbags

-  Musical instruments

-  Electronics of all kinds - drones, GPS, iPods, MP3, etc.

-  Home audio and Video - receivers, power amps, DVD and blue-ray players, CD players, etc.

-  Tools - power, hand, storage, ladders, etc. 

-  Automotive - car audio, power amps, speakers, subwoofers, auto testing equipment, custom rims, etc. 

-  Household items - small appliances, Fans, etc.

-  Lawn and Garden - mowers, snow blowers, trimmers, blowers, chainsaws, wood chippers, etc.

-  Art and Collectibles

-  Sports and Outdoor - hunting bows, fishing rods and reels, depth finders, camping, binoculars, etc.

-  Recreational equipment - bicycles, motorcycles, ATVs, snowmobiles, trolling motors, etc.

No, PAPAS PAWN SHOP does NOT accept firearms as collateral for pawn offer, as regulated by New York state law. We are a not registered firearms dealer and must comply with all federal regulations.

While your item is in pawn, you still own it. It is our responsibility to keep it safe and in good condition while it’s in our care. When you give us an item for a pawn, we keep all accessories (remote controls, cables, etc.) with your item and place it in a secure area. Your item is safely stored until you return to pay your pawn offer in full and reclaim it. We are fully insured for the item's value.

Pawn offer amounts are based on the item’s current appraised value, condition, and our ability to sell the item.

When Jewelry is the collateral for a pawn offer, we test the precious metals and diamonds to determine its worth. The diamond testing includes a visual inspection using a Jeweler's Loupe, weighing the item, sizing (determining carat weight of) any stones, and noting the cut/color/clarity of each. Additionally, we test the metal using a special acid that determines the karat of gold. This is done to ensure a clean test so there are no false readings on your item that may detract from what we can offer you.

The price of gold is based on market values, the price for which is routinely reviewed and updated. Prices can vary greatly as the offer amount for 24K gold is significantly higher than that of 14K gold.

No, all lenders must charge rates commensurate with the size and duration of the offer, collateral, risk, and recourse. Pawn transactions are small, short-term offers with no hidden fees.

Yes, we are governed by all major federal laws that apply to entities designed as financial institutions, plus local authorities. These laws include the Patriot Act, Truth in Lending Act, Equal Credit Opportunity Act, and Federal Trade Commission Rules on Data Privacy and Security transfer. Because we deal in firearms, we are also regulated by the Bureau of Alcohol, Tobacco, Firearms and Explosives.

No, because pawn transactions are the only type of consumer credit that requires reporting to local law enforcement agencies. This reporting is required daily and must include extremely sensitive, personal information about the customer, including gender, ethnicity, and address.