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Are you considering a payday loan from one of the giants like CashMoney? While it may seem quick and easy, you may not have considered that our pawn loans may actually be a much better option when you need a quick dollar. Today, our experts share 7 reasons why our pawn loans are better than payday loans like CashMoney.
Why Pawn Loans are Better than Payday Loans like CashMoney
1. Fast Cash
Have you ever tried getting a loan from a bank?
By the time you book an appointment, provide all of your financial records and go through all of the checks and balances a bank requires, you can count on having to wait a good 2 to 4 weeks.
If you need money, and you need it now, our Pawn Loans are the perfect solution.
Simply bring your valuable item in to our Edmonton pawn shop and walk out with cold, hard cash within 15 minutes.
2. No Credit Checks
Credit score not-so-great? Chin up, friend.
At Loan Star, we do not perform a credit check and, in fact, don’t consider your credit score at all when it comes to our instant Pawn Loans.
3. No Wage Garnishment
Have you ever taken out a loan, only to be unable to pay it back right away?
When a loan isn’t paid back, many lenders will resort to garnishing your wages, which means they can actually get an order that forces your employer to withhold part of your earnings, and give it directly to the business that holds your debt.
At Loan Star, this isn’t the case. If worse comes to worse, we simply keep your valuable item and sell it to make up for the amount of the loan.
4. Loans of All Sizes
Big or small, we’ve got ’em all. Our loans start at $10 and range all the way up to $20,000. Whether you are in a tight pinch, or need a larger sum of money, our Instant Loans are very flexible.
5. We Pay in Cash
While many other lenders including payday lenders like CashMoney dole out the dough on pre-paid cards, at Loan Star, we pay your loan out in cash, right away.
Gone are the limitations of yesterday!
6. We Cost Less
Considering a payday loan?
Stop right there!
Did you know our loans are easier, faster and cheaper than payday loans?
Our typical 30 day + 7 day grace period Instant Loans have a much lower interest rate than the alternative, and simply end up costing you less.
7. We Won’t Sue You
Loan lovers, beware. Did you know that depending on the lender, if you default on your loan or are unable to pay it back, you could end up with a lawsuit on your hands?
Not so at Loan Star.
If you can’t pay your loan back, we just keep the item you provided as collateral.
It’s really that easy!
Your Trusted Edmonton Pawn Loans
Short on cash this month? Gas tank too close to empty? Put some extra cash in your pockets with some of these simple ideas to make money in Edmonton today!
Get Paid to Drive Around and Listen to Music
Why not cash in on the ‘need it now’ economy of today?
Applying to become a Skip The Dishes driver is simple, quick and easy way to rack up some dough. Enjoy a flexible schedule, listen to your favourite songs and make money while you’re at it.
Try a Kijiji Search with This Special Keyword
Need money like yesterday?
Hop on over to Kijiji and select “jobs” then type in “urgent” – you’ll be faced with a long list of employers who need help now – many who may pay in cash on a daily basis.
Many construction sites will need general labour help, parents will need babysitting and restaurants need servers. The list is really endless – try your luck and see which types of fun job opportunities pop up today!
Turn Your Basement Bobbles into Cash
Do you have a box of old baseball cards? An amp from your high school rock band that’s just collecting dust in the corner downstairs? That power sander you bought for that DIY project years ago but haven’t touched since?
We accept all types of items including gold and silvery jewellery like rings, necklaces and bracelets, electronics like laptops and cell phones, power tools, golf clubs and other sporting equipment, musical instruments and collectibles.
If you’ve got items that you aren’t using, why not turn them into cash by popping into our store today?
Dust off Your Bookshelf
Did you know many used bookstores, like the Wee Book Inn on Whyte Avenue accept used books and will pay you cash on the spot?
Finally, a useful application for all of those Jane Eyre reads!
100% Satisfaction Guaranteed
Oops – accidentally overspend again?
Many large retails like Wal-Mart, Superstore and Winners may not require the tags to be attached or a copy of your receipt – they simply offer a satisfaction guarantee.
That blouse you bought but can’t actually afford that doesn’t quite fit right?
The area rug you brought home from Costco that doesn’t actually look so great in your living room?
As long as it’s within a reasonable time frame, pack it up and bring it back for, many times, a full refund.
Bag up your recyclable bottles and drinking containers and head over to your local bottle depot to trade them in for some cool cash.
Bag of bottles a little empty? There’s no shame in heading out to one of the large outdoor shopping complexes nearby to pull bottles that could be recycled from the garbage.
The empty bottles will otherwise be added to our landfills so you can even think of it as a generous way to help out the community and environment, too.
Pay Less for Pizza, Perogies and Pasta
Download the Flipp app to look up grocery items and see which grocery store they are cheapest at in Edmonton.
Many large grocery stores like Superstore and Save On Foods will actually honour the discounts that their competitors are advertising so you do all of your shopping in one place.
Simply take a screen shot of the item in the Flipp app and show the cashier to pay less for your groceries every day!
Your Quality Pawn Shop in Edmonton
Loan Star Exchange is Edmonton’s trusted, quality pawn shop.
If you just can’t wait and need a quick and easy way to get cash today, we offer options.
Our Pawn Loans hold on to valuable items as collateral and offer short term loans for when you find yourself in a desperate situation.
Get in touch to learn more about out short-term loans today.
More Interesting Stuff on Money
Fall yard sale season can be tempting for many people looking for a deal, yet most of those deal hunters haven’t realized that there is a place with better deals and better products that is open year round. That place is a pawn shop. Here are a few reasons why you should choose your local pawn shop over a yard sale.
Anyone who has been to a yard sale knows that the items available can vary quite widely in terms of quality. Broken items can be placed next to board games with missing pieces, beautiful clothes hang next to jackets with missing buttons and holes in the pockets. When you go through a yard sale, you can often find products that seem amazing, only to discover they are falling apart a week after you bring them home, and you can’t do anything about it except throw it in the garbage.
A pawn shop owner understands that carrying poor quality merchandise will ruin their business and reputation, so they quickly become experts in finding quality pieces. Heading to a pawn shop instead of that yard sale can not only get you better quality items, it means you can buy with confidence.
When you go to a yard sale, you can often find everything from broken furniture to VHS tapes and worn out paperbacks. The actual products for sale are based mostly on two factors: the person not wanting it anymore or them really needing to get rid of it. This means the range of items available and their quality varies dramatically. By contrast, a pawn shop is curated. Items are there because the pawn shop operator knows they will sell. This means a narrower selection of goods that are at a quality that makes them sellable. It’s easier to find what you need and want in a pawn shop.
Yard sales are sometimes a mixed bag. You can find pretty decent deals on stuff, but more often than not you can find items that you love that are priced with sentimentality in mind. A person putting on a yard sale is in complete control of the pricing and while they may be open to haggling, they are often too personally involved to price competitively. They have also rarely considered actual market value, meaning you could end up paying more than what the item would go for at a pawn shop.
Pawn shop owners by contrast, price things according to previous sales experience and their expertise on the products. They do not price things because of the memories associated with them. They price them to sell. That means better, fairer pricing for you and less hassle trying to haggle down someone who doesn’t understand why their pricing is too high for an item they love.
When it comes to finding quality used items, it’s best to head to a quality and reputable pawn shop like Loan Star Exchange. With curated items that are high quality and priced to sell, it can be the perfect place to find something unique for less.
A pawn shop is not a second hand shop, a consignment store, or a money lender, but it is some combination of all three of those things. Above all, it is a business and so it should behave like a business, with the proper licenses and know-how, and you should feel as comfortable doing business with a pawn shop as you would with any other retailer in the area.
The signs that you are dealing with a quality pawn shop are:
1) They can provide you with a small loan
A pawn shop is mostly in the business of giving small loans for a short period of time, with a sellable item as collateral. If you need money in a hurry, you can get a loan from a pawn shop and they will hold onto your item for an agreed upon time, until you collect it by repaying the loan within that time and with interest. Most people do return for the items, but if they don’t the store can sell it for the full value. As long as you give a more valuable item as collateral, they will be willing to negotiate for a higher price.
2) They should know the value of the items and understand what they have.
A good pawn shop will know a good piece of jewelry from something gold plated. They will have appraisers on staff and people who can repair jewelry. They will know the value of what you bring in and what you want to buy.
3) They should have a licence
Pawnshops fall under the category of “payday lender” – but don’t confuse them with payday loan companies like CashCo or Money Mart. The distinction is for their classification of licence. Pawn shops in Alberta are legislated by the: Fair Trading Act, Payday Loans Regulation, Cost of Credit Disclosure Regulation and An Act to End Predatory Lending. Each shop must undergo the province’s licensing process to operate legally.
4) They should have good security
Since they are storing your things, they should have a method in place to make sure they are keeping your belongings safe.
5) They are well established in the community and well-liked
A pawn shop should make you feel comfortable in doing business with them. They should be in a good neighbourhood and have a good relationship with the community. You should feel good about any place where you are doing business. Talk to the staff, and go and visit a number of times before you bring in your item to make sure you and the shop can enjoy a great business relationship.
Call our quality pawn shop for info on our products and services, or come and see us today!
Each new year we are presented with the challenge of starting over again – and doing it right. For some that means retackling their fitness goals, for others it means reigning in their finances or getting on top of debt – it’s different for everyone. If you are one of those with the goals of reducing your spending, saving more and having more to put toward debt, these tips are for you.
1. Stop Buying New
This is the most obvious and easiest change you can make. One of the only things worth buy new is a vehicle, simply so you don’t have to deal with someone else’s problems (and for warranty reasons). Other than that, you really should be considering purchasing most of your good used. From furniture, to jewelry, clothing and even hobby items…you can find fantastic items in excellent shape. Get thrifty. Whether you choose to root through the racks at thrift stores, shop online classifieds or check out your local pawn shop, there are many great deal out there to be had for great quality, used goods.
2. Budget and Plan
Even without buy things new, it’s easy to get carried away with your spending. When you do head out in search of an item, whether it’s a pair of jeans, artwork, or classic vinyl, set a budget. Know in advance what you need, what you are willing to spend on that used item and stick to your budget. This is also a good plan of attack if you prefer to shop for brand new items. Always plan ahead and always set a budget limit.
3. Speak to Your Bank
There are some really great banking programs available to help you save. A “bank the rest” setup will round up whatever you spend via debit to the nearest dollar (or $10 – whatever you want!), and transfer it to your savings account. So, if your spend $22.55 at the grocery store, $.45 will get transferred into your savings. This may not seem like much, but when you are running errands (groceries, fetching coffee, gassing up your vehicle, shopping, buying lunch) these few cents, per purchase, can add up to a significant amount of money added to your savings account daily. If you set your account to round up to the nearest $5 or $10 mark, it can be a whole lot more. That same $22.55 could equate to $7.45 transferred to savings for just one purchase. It’s an easy, think-free way to save. The key is locking out your savings account so you can’t access it via your bank card.
4. Cash Only
With all our online banking, credit cards and plastic money, it’s become so much easier to lose sight of our daily finances. One surefire way to take control again is to carry cash on you, and only cash. When you go shopping, if your budget for an item is $60, only carry that $60 on you and leave the bank card and credit cards at home. It’s a great way to re-learn how to shop effectively, how to spend your money efficiently, and encourages you to seek out deals.