Finance Blog

Can You Pawn Your Designer Bags?

Have you recently experienced an emergency such as an unexpected car repair? If so, you may need to secure some extra cash now and therefore cannot wait for payday. What do you do when this happens, especially if your credit score is not good? If you find yourself in this situation, you may need to resort to getting a pawn loan or selling something of value.

Do You Have Designer Bags That You Do Not Use?

So what carries value in your home? If you have not thought about pawning designer bags, you may want to give some thought to using the bags to get extra money. When you pawn designer bags, you need to find a pawn dealer that easily accepts these items. To ensure that you get a pawn loan, you need to have the original receipt for your purchase. That is one of the criteria used to provide a loan for a designer handbag.

You Can Pawn or Sell the Bags: It’s Entirely up to You

You just have to make sure that the pawn dealer takes designer bags and will loan money for them or purchase them from you. If you have a large number of designer bags in your closet, you will have to check to see if you have the original receipts. Once you find the receipts, you can do business. Keep this in mind when you go shopping and buy designer handbags. Keep the purchase receipt in case you need to pawn or sell them at a future date.

Getting Your Designer Bags Valued

Once you bring the handbags into the pawn shop, you will have them valued. If you wish to use the bags as collateral for a loan, you can do so. That way, you can take out a pawn loan in the future if you pay your current pawn loan off. You can also carry the bags again.

Get Rid of Outdated Designs

Maybe you think that the handbags are outdated. If so, simply sell them to the pawn dealer to get the emergency cash you need. Even if you do not require emergency funding, it is good to know that you can get cash for designer bags, provided, as noted, that you keep the purchase receipts.

Reasonable Rates for Quality Handbags

You will find that the pawn loan rate for designer bags is reasonable. You only need to pay a small monthly fee if your designer bag loan is $20,000 or more. Plus, you only pay a 10% loan rate for bags that are about $200 to $1000 in value. Regardless of the bags’ values, you will find that using them for collateral can be well worth your while. Check online today to see which pawn shops near you will take designer handbags as collateral for a pawn loan or will pay for them to sell.



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