How Loans Work

Pawn Shops have long offered a fast, convenient, and confidential way to borrow cash.  Because the loan is collateral based, no credit check is required, and there is no legal consequences if the loan is not repaid.  Collateral can range from Gold and Diamonds, to Musical Instruments, Electronics, Tools, and Firearms.

In California the loan period is 120 days.  We hold merchandise during this period until the loan and interest due have been repaid.  Interest rates are set by the state of California, and vary by loan amount.  When a customer brings in merchandise to pawn, it is evaluated and we make an offer.  If the offer is accepted, the customer is issued a pawn ticket that includes a description of the item, amount borrowed, loan date, maturity date, interest rate, and total amount that must be paid to redeem the item.

When 120 days have passed, and the item has not been picked up, we send a 10-day courtesy notice informing the customer that the loan is due.  At this point the customer has three options:

1. Pay the total loan amount and all interest and fees due to retrieve the item,

2. Pay only the interest and fees due, rewriting the ticket for another 120 days

3. Do nothing an forfeit the item which becomes property of the pawn broker.

Over 90% of loans at Rick’s Antelope Valley Pawn Shop are paid in full.  We will work with you to avoid property forfeiture.  Our goal is to help you as a customer, and build meaningful relationships that last into the future.

If you have any questions please click here to contact us.