What is the Difference Between Pawn Loans and Payday Loans?
One of the questions we get asked the most is If you ask yourself what’s the difference between a pawn loan and payday loans?
Well first of all, pawn loans are cash loans given against a collateral of some kind, like jewelry, electronics, instruments, bicycles, and more. The amount of cash received for a pawn loan depends on the stores policies. At Gems N’ Loans Dana Point, we have interests rates as low as 2%. Pawn shops allow you to agree upon the amount of time to repay the loan, and once the loan is repaid, your item is returned to you.
Payday loans are loans given against a specific amount of money, depending on your typical earnings. They are high-interest loans to be repaid within a short amount of time, normally against the borrower’s next paycheck. This can leave the lendee playing catch up.
There us more than one way to get to the beach, and often finding a bike for a great price can be possible at a Pawn Shop near Dana Point. She had to get there for the last bonfire before school starts again. She walked for miles until she stumbled upon Gems N' Loans in Dana Point, to find an amazing deal on a used bicycle. After the bonfire she will pawn the bike at the Pawns shop in Dana Point for book money, when she returns to school.
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