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Top Things to Know When Taking Out a Pawn Loan on a Gun

​Taking out a pawn loan on a gun is very easy to do, and it's a credit alternative to using a credit card or taking out payday loans. A personal loan from a pawn shop can be a great financial tool when you need extra cash. If you are hoping to use your firearm as collateral for a pawnshop loan, Chesapeake Pawn & Gun is here to help. Bring your valuable item -- such as your firearm -- to our pawn and gun store, and let one of our friendly associates know that you're interested in taking out a loan. We will help you get the quick cash that you need, all in accordance with state law. If you want to know a little more about pawn loans before you take one out for the first time, these are some of the things you'll probably want to know.


There's No Application or Credit Check Required for a Pawn Loan

You might be worried about asking for a cash advance from a pawn shop, since you might not have had great experiences when applying for a traditional loan in the past. Maybe you have a bad credit score, or maybe you just aren't looking forward to filling out and application and going through the process of applying for a loan. Don't worry...you can have cash counted into the palm of your hand in on time, all without a credit check, check of your income or employment history, or an application. We don't care if you have a bank account, if you have a low credit score, or really about anything else. We only care that you are of age, bring in one or more pre-owned items to secure your loan, and have your ID. We have a loan that works for you, regardless of your financial situation. Skip the loan applications and the high interest rates, and visit your local store for a loan today.



Handgun in a person's hand


Your Pawn Loan Amount is Determined By the Value of Your Gun

So, how much money can you borrow when you take out a pawn loan from Chesapeake Pawn and Gun? The amount that you're offered for a cash loan depends completely on the value of your firearm. To borrow the highest dollar amount, it's best to bring in your more valuable guns. Also, remember that you can bring in more than one gun for a pawn loan; our in-store experts will add up each item's value and make you a loan offer.


Extensions are Available When You Get a Pawn Loan on a Gun

Are you worried that you will not be able to repay your loan by the due date? A pawn broker like Chesapeake Pawn & Gun can offer you an extension if you need one. Our financial products are flexible and meant to help you! Just come in and let us know you can't pay the full amount of the loan. Just make sure you do it before your due date. We can extend pawn shop loans for another 30 days if you pay the interest and fees already due.


Your Credit is Never Affected By a Pawn Loan

Good credit scores can make a big difference in life. If you have good credit or are working on your credit, you could be worried about your credit history being damaged if you default on a pawn loan. Luckily, this is not a concern. A pawn store like Chesapeake Pawn & Gun will not submit information to the credit bureaus if you don't repay your loan on time, or at all. You also don't have to worry about debt collectors or other issues. If you don't repay, you simply forfeit the personal items that you secured your loan with...that's it. It's yet another reason why this is one of the best loan options out there.


If you are looking for options for short-term loans, taking out a pawn loan on a gun could be the perfect solution for you. Pawn transactions are a fast and easy way to get the money you need, when you need it. Even if it's your first time taking out collateral loans on an item of value, pawn shops like Chesapeake Pawn and Gun make it very easy. Skip the other financial institutions and come see us...we think you'll be shocked by just how simple it all is.




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