Our pawn loans are a great way to get a quick cash loan by pledging assets that you already own.  Most of our loans are made on gold, silver, and platinum jewelry.  Our knowledgeable team will evaluate your pieces of jewelry, taking into account the weight and current price of the precious metal as well as assessing the value of any diamonds on the jewelry piece.  We closely examine the carat weight, cut, clarity, and color using a 10x jeweler’s loupe.  Your jewelry can be broken or can even consist of scrap pieces and will still be evaluated in the same manner.  The precious metal will be examined using the magnet test, gold testing acid, and/or electronically.  Once we have examined the jewelry and taken these factors into account, we are able to make a cash loan based on the assessed value.

We also loan on most other items of value.  Upon the customer bringing in the non-jewelry item to one of our locations we assess the condition of the item as well as testing to ensure working condition.  Once this has been established we will check the current new and used retail value of the item and loan based on these prices.

Once a loan has been made, the customer has 4 months to make payment on their item(s) in pawn.  Interest accrues over this time period.  Rocky’s Pawn Shop charges 1% interest for the first month.  After the first month, interest is charged according to California legislated interest rates.  After the 4 months expire, there is an additional 10-day grace period during which the customer can make payment on his or her loan.  We mail out a notification on the first business day of the grace period to the last known address of the customer explaining that the loan is about to expire/default.

Check out our List of Items We Take for examples of what we are willing to lend on.

Loans at Rocky’s Pawn Shop are a great alternative to other borrowing methods for several reasons:

  • Rocky’s 1% Special – If the customer picks up or rewrites their loan, we only charge 1% interest plus a small set-up fee, usually $5.00.  This makes Rocky’s loans one of the cheapest ways to borrow money!
  • No credit check – pawn loans do not require any credit report as we are strictly loaning on the collateral provided to us.
  • Quick Quick Quick – The total loan process can be as quick as 5 minutes.  There is no long, formal loan application to fill out.  Just a couple signatures and a thumbprint and you’re on your way.
  • Our loans are confidential.  Your personal information will not be shared with others.  This can be favorable compared to borrowing money from a family member.
  • We pay out cash.  Checks can take days to clear.  Our loans are instant, in cash, so you can immediately pay that bill that needs to be taken care of.
  • Pawn loans are non-obligational.  Although they will lose their collateral pawned, customers do not have to repay their loans if they do not wish to.

Before the loan expires, the customer can either pay in full (principal + interest & fees) or he or she can pay the interest and fees accrued up that point in order to rewrite the loan for an additional 4 months.  The customer will then receive a new pawn ticket with a new loan number.  This “rewrite” can be done as many times as necessary for the customer to pick up the item.  The new contract is based off of the same rate and terms as the prior pawn.

Customers are also welcome to periodically make principal payments towards their loans.  Note: although a principal payment has been made, interest still accrues based on the contract principal, which will only reflect changes once the loan has been rewritten.

Any person can make the rewrite payment to extend a customer’s loan for them.  They can even pay the full amount due to pay off the pawn and not incur any additional interest.  However, only the customer in whose name the pawn loan was written can pick up the item.  If the customer has moved, passed away, or is physically unable to come to the store to pick up their item, we will always try to be accommodating.

Payments are accepted using cash or debit card.  Credit cards are not allowed for any payments regarding pawn loans.  We accept checks for rewrite payments; however, checks will not be accepted for final pick up and pay off of the loan.

Payments can be made without the customer being in the store.  While we do not accept payments made over the phone, the customer may mail us a check or money order along with their pawn ticket.  We will process their payment if they are rewriting their loan and then mail them their new pawn ticket.

Anyone over the age of 18 with valid government identification can pawn at Rocky’s.  We accept United States drivers licenses, identification cards, any country’s passport, consulate registration cards, U.S. military ID’s, etc.

If a customer pawns their item, they still own it.  The item stays with Rocky’s as collateral for the loan.  If the customer sells the item, we pay a premium over our loan price.  The sale is final and the customer cannot return for their item.  This is obviously advantageous to the customer if they just wish to get rid of their property, as they will be paid more.  However, because our loan pricing is competitive with our purchasing prices, pawning is often a great choice to get cash while still retaining ownership over the item.

Yes, Rocky’s also offers jewelry consignment sales to our customers.  While we take the precious metal value and diamond value into account when we purchase an item, sometimes a customer wishes to try and sell their item for close to what they originally paid for it.  This is often difficult when taking in to account the price mark-up someone pays when they purchase an item new from a store.  Selling their jewelry on consignment is the best option for this type of customer.  Because they are selling the item to an “end user” and not to the store for resale, if the sale is completed, the customer can often get more money.  Our consignment is simple – the jewelry piece is put out for sale at an agreed upon price.  Upon final sale of this price the customer receives 70% of the sales amount, while Rocky’s receives 30%.

The customer can even pawn their jewelry and consign it at the same time!  Instead of the item being stored permanently in one of our vaults, the jewelry will be displayed in one of our showcases for sale during business hours.  Upon sale of the item, the loan must be repaid in full as well as Rocky’s 30% share in the sales price.

We are open Monday through Friday from 9:00 a.m. to 5:00 p.m, closed on Saturdays and Sundays.  We are closed during the following holidays: New Years Day, Memorial Day, 4th of July, Labor Day, Thanksgiving Day, and Christmas Day.

YES.  Each of our six locations has different inventory and we constantly put new inventory out for sale each week.  Rocky’s Pawn Shop is the premier location in the valley to purchase high-end jewelry at discount prices.  Our prices are already much lower than jewelry stores, but even these prices get slashed big time when we have one of our famous jewelry sales.  Often occurring around major holidays, Rocky’s jewelry can sometimes be found at 50 or even 70 percent off!

Rocky’s is also a great location to purchase other quality items at discount.  Our stores sell items consumers want in their homes.  Our stores do not take old junk; therefore, our stores are not filled with clutter out for sale.  Our electronics, tools, instruments, etc. can be found often at half the new price found in retail stores.  Overall, you can find great deals at our pawn shops.

We give a 10-day guarantee on all purchases made at Rocky’s.  Our goods are second-hand so we want to give customers confidence in what they are purchasing.  We test all items we loan on and purchase to make sure they are in working order so the customer can be satisfied with the item they choose to purchase.

Our lay-a-way program is one of the biggest perks to shopping at Rocky’s Pawn Shop.  Unlike most lay-a-way programs at other retail stores, our program has no time limit and zero added fees or interest.  Items like diamond engagement rings can be very expensive and often considered an investment.  Many people do not wish to carry a high credit card balance or cannot afford a large purchase like this up front in full.  All we require for our lay-a-way purchases is a 10% down payment, and a minimum monthly payment of $10.00 per month.  By using this program many of our customers can make payments towards purchasing the expensive jewelry they never dreamed of owning!

 

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