Welcome to Westside

  • Frequently Asked Questions

    1: How does a pawnshop work?

    Pawn shops offer secured loans to people, with items of tangible personal property used as collateral. Pawnbrokers often accept a wide variety of items, including gold jewelry, instruments, computers, power tools, and much more - almost anything of value is considered. These are non-recourse loans that do not affect a borrower's credit. Within a certain contractual period of time the borrower may redeem their pledged property for the principal plus interest & fees. The amount of time and rate of interest is governed by law and by the pawnbroker's policies. If the loan is not paid within the time period, the pawned item will be offered for sale to other customers by the pawnbroker.

    2: Why would someone go to a pawn shop to get a loan?

    Pawnshops offer consumers a quick, convenient and confidential way to borrow money. A short term cash need can be met with no credit check or legal consequences if the loan is not repaid.

    3: What is the foreclosure procedure?

    At the end of the contractual loan period, the borrower can pay all applicable interest and fees in order to receive a replacement loan with a new due date. If a customer defaults by not repaying the loan, the collateral becomes the property of the pawnshop after the loan is overdue by a specific amount of time.

    4: Do most pawning customers lose their merchandise?

    The majority of all loans are repaid. Repeat customers make up most of our business, similar to any other lending or retail establishment. Pawnbrokers know the vast majority of their customers because they often borrow against the same items over and over again. Pawnbrokers offer non-recourse loans, looking only to the item being pledged to recover their investment should the borrower choose not to repay the loan. It is solely the choice of the customer whether he/she elects to repay the loan.

    5: How can I be sure the merchandise I purchase at a pawnshop isn't stolen?

    Pawnbrokers have a variety of policies and procedures in place to curtail the intake of stolen property. Thieves and robbers are a pawnbrokers worst enemy, and we work closely with local law enforcement to catch and prosecute these perpetrators. A customer must provide valid identification in order to pawn or sell, in addition to an electronic signature and fingerprint. In California, every transaction is reported to a statewide database operated by the California Department of Justice. Law enforcement officers can access this database to search for specific stolen property or suspects.

    6: Should photographing or fingerprinting pawnshop customers be required?

    Pawnshop customers provide full identification with each transaction, including fingerprints. In California, a copy of these records are uploaded daily to a statewide database operated by the California Department of Justice. Additionally, most pawnshops maintain surveillance cameras in their stores.

    7: What is required to get a loan?

    All you need is an item of value and valid identification. We are also required by law to capture an electronic signature and thumbprint for each transaction.

    8: What is the difference between buying at a pawnshop and buying at a retail store?

    Mainly price. Pawnshops can offer you merchandise at prices significantly lower than retail.