Pawn shops can offer steep discounts.
Pawn shops give loans with property used as collateral; when someone fails to pay back the loan, the pawn shop will sell the collateral, often for less than its value. Pawn shops can offer customers merchandise for less than the retail value. You should be prepared when dealing with a pawn shop; do your research and know what documentation to request when making a purchase.
Instructions
1. Research the item you plan to purchase ahead of time. Look at the item in other stores and online to see how the price compares against competitors' prices.
2. Ask to test any items, such as electronics, that may malfunction. Never buy an item unless you are able to see for yourself that it works.
3. Negotiate the price. Pawn brokers are often flexible on their pricing; if you think the price is too high, offer a lower price. Never pay more than you feel an item is worth; be prepared to walk away from a deal.
4. Ask what guarantees or warranties come with the product. In most cases, a pawn shop will not offer any warranty or coverage. If it does, get it in writing, specifying the exact terms of the warranty.
5. Ask for a receipt for any purchase. You will likely need this if you need to return an item with a warranty. Although less than 0.5 percent of merchandise sold in pawn shops is stolen, according to the National Association of Pawnbrokers, you should keep a receipt in case the goods do turn out to be stolen.
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