How does a collateral loan work? Cash Loans...

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  A collateral loan, or otherwise known as a “pawn”, is the act of borrowing money on an item you own and the lender or pawnbroker is willing to accept.

  Simply bring your item to one of our 3 convenient locations where you can borrow money on your fine jewelry, luxury watch, firearm, electronics, musical instrument, tool, or most any item of value. It is  a simple process with no credit checks, red tape, or hidden fees. To reclaim your collateral, you pay back the original loan amount, along with the previously agreed upon fee within a thirty  day period. Time extensions are available for an additional fee.

There may come a time when pawning an item could be helpful to your cash flow needs and Welsh Pawn Shop is here to help. If you have concerns about entering a pawnshop to borrow money, or the stigma associated with doing so, rest assured that you will find a respectful and courteous business environment.

Your comfort and peace of mind are our top priority. Welsh Pawn Shop has been successfully conducting business in this manner for the last 107 years in Savannah. 

Details of Terms & Conditions for Pawn 

This is a pawn transaction. Failure to make your payments as described in this document can result in the loss of the pawned item(s). The Pawnbroker can sell or keep the item(s) if you have not made all payments by the specified maturity date. The length of the pawn transaction is 30 days and can only be renewed with the agreement of both parties and only for 30-day incremental periods. Payment of the appropriate charges and fees indicates your request for an extension for an additional 30-day period. Partial payments will not extend the maturity date. This transaction will be reported to the local law enforcement officials. Pledgor represents and warrants that: (1) Property belongs to Pledgor free from any encumbrances and liens, or rights of any claims of anyone else; (2) Pledgor has legal title and ownership to all property pledged; (3) Pledgor has legal rights to pawn same; (4) pledgor is not under 18 years of age (21 years of age if pawning a handgun); (5) Pledged property is not subject to an open and outstanding rental/purchase agreement or retail sales contract. Pledgor states that all personal information has been removed from the property being pledged. This includes but not limited to personal information stored on computers, laptops, PDAs, cell phones and tablet pads. If Pledgor fails to remove their personal information from the property being pledged, Pawnbroker shall not be responsible for any unforeseen or inappropriate use of it. 

There shall be a grace period on all pawn transactions. On transactions involving motor vehicles, or their certificates of title, the grace period shall be 30 calendar days: on all other transactions, the grace period shall be 10 calendar days. Pledged goods may be redeemed by the pledgor within the grace period by the payment of the principal loan amount, all unpaid accrued fees and charges, and additional interest not to exceed 12% percent of the principal. Pledged goods not redeemed within the grace period shall be automatically forfeited to the Pawnbroker by operation of law, and any ownership interest of the pledgor shall automatically be extinguished as regards the pledged item(s). 

THE FOLLOWING INFORMATION APPLIES TO TRANSACTIONS INVOLVING MOTOR VEHICLES OR MOTOR VEHICLE CERTIFICATES OF TITLE: Failure (o make your payments as described in this document can result in the loss of your motor vehicle. The pawnbroker can also charge you certain fees if he or she actually repossesses the motor vehicle, including a repossession fee not to exceed $50, and a storage fee of $5 per day for each day it is stored. If the repossession occurs at a location more than 50 miles from where the pawn originated, additional charges are applicable. If the pawnbroker registers a lien on the vehicle they may charge you a fee not to exceed the fee charged by the appropriate state. The pawnbroker has the right upon default to take possession of the motor vehicle. In taking possession, the pawnbroker or his agent may proceed without judicial process if this can be done without breach of the peace or may proceed by action. 

Pledgor or seller must pay 11⁄2 times the actual shipping cost for any items shipped to them. Retain your copy of this ticket. If it is lost or destroyed, notify pawnbroker immediately, in writing. A fee of $2.00 can be charged for each lost or destroyed pawn ticket. 

By signing. pledgor acknowledges that they understand and agree to all terms of this agreement; have received the principal amount of the loan; observed the complete preparation of this ticket, and that they have received an exact copy of this ticket. 

Customer Privacy Notice: We collect nonpublic personal information about you as a consumer, customer or former customer from the following sources: Information we receive from you on our pawn forms, loan documents, sales documents, or other forms; information about your transactions with us, our affiliates, or others. We do not disclose any nonpublic personal information about our customers or former customers to anyone, except to our affiliates and as permitted by law. We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain safeguards that restrict access to your nonpublic personal information. 

VERBAL AGREEMENTS ARE NOT BINDING • REDEMPTIONS MUST BE PAID IN CASH NO GOODS SHOWN FOR REDEMPTION UNLESS PAID IN ADVANCE