Millions of people rely on fast pawn services to obtain cash when they need it, keeping their valuable personal items safe in the process. But if you’re considering pawning an item, it helps to understand the process in detail before you walk through that doorway, whether to sell something or take out a loan.

When you fast pawn services an item at a physical store, you hand it over to the pawnbroker who offers you a dollar amount for your merchandise based on its resale value. It’s a straightforward trade, and you can reclaim your merchandise within a law-allowed time frame by repaying the amount plus interest. If you don’t, the pawnshop keeps your merchandise and may sell it at auction.

Online pawning lets you trade your stuff without going to a physical shop. But there are risks — and sneaky extras.

Why Choose an Online Jewelry Pawn Shop?

Pawn shops are a convenient option for cash-strapped consumers, offering quick money in exchange for jewelry, tools, electronics, and more. But they also carry high interest rates that can be dangerous to unsuspecting borrowers.

EZCORP operates a network of retail pawn and consumer lending stores throughout the United States and Latin America. Known by the brand names EZPAWN, EZCORP and FirstCash, these retail pawn stores buy, sell and make loans on a wide range of merchandise, including jewelry, tools, appliances and electronics. In addition, EZCORP provides consumers with non-recourse pawn loans secured by pledged personal property. This type of transaction is similar to a payday loan or title loan, and it can cause borrowers to fall into a cycle of debt that can be difficult to break free from.