Hi Jim. The pawns/loans are for 30 days. On the due date you have two options: 1. Pay the amount we loaned you plus interest to get the item out or 2. Pay just the interest to get another 30 days. You can leave the item in pawn as long as you need - all that is required is an interest payment in full every 30 days. Since you are inquiring about a firearm something to note is a background check is required to get the item back. The background check has no set time, once we submit it to the state police system it’s in their hands. Lastly all pawn payoffs are cash only. If you have any further questions give us a call 757-489-7296 Thanks Amanda.
A pawn for a firearm is roughly 10% plus $3. So if you borrowed $200, then you would bring in $223 to redeem the pawn within 30 days. If, for instance, you could not redeem your pawn in 30 days, you could pay $23 to extend it for another 30 days. Also, if you pay more than the minimum but less than the redemption amount, the difference would go to lowering the principle and that would make your interest lower for the next month. Thank you for your interest and let us know if you have anymore questions.
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