HELP CENTER
You asked, we answered
Have a question? Want to learn more about our store and policies? We’ve compiled a list of some of the most popular questions, accompanied by our thorough answers. If you can’t find what you’re looking for, please contact us.
HOW DOES A PAWN LOAN WORK?
Pawn loans are a quick and hassle-free way to borrow money without a credit check or potential negative credit damage. Loans are based on the value of your collateral, not your credit rating. At Chad’s, a pawn loan has a term length of 90 days/three months. If you cannot pay back your pawn loan in full, we offer extensions to give you extra time. Or you may have decided to let your loan mature without payment and your collateral will be sold to the general public.
WHAT IS A LOAN EXTENSION?
If you are unable to pay back your pawn loan in full on its due date, you are able to get an extension on your pawn loan. With an extension, you will be required to pay one month of the interest owed, then you may extend the length of your pawn loan for an additional 30 days/one month.
HOW DO YOU DETERMINE THE VALUE OF AN ITEM?
We base pawn loan amounts on the resale value of your item. Factors that also effect a loan amount are the items current condition and our ability to sell the item. We use an array of research tools to accurately assess the market value of an item to ensure that we offer you the most money we can.
IS MY ITEM SAFE WHILE IN FOR PAWN?
While your item is in pawn, it still belongs to you! At Chad’s Pawn we understand that 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 pawn, we keep all accessories (remote controls, cables, etc.) with your item and place it in a secure area. We are fully insured and licensed by the Louisiana Office of Financial Institutions.
DO I GET MORE MONEY IF I SELL INSTEAD OF LOAN?
Although some other pawn shops may try to pressure you into selling by offering you more money if you sell rather than pawning your valuables, this only means that they are under valuing your item when loaned. At Chad’s Pawn we view this as unethical and always do our very best to offer you the most money for your item. If you choose to sell an item or get a pawn loan it it’s entirely up to you, we won’t pressure you one way or another.