Super Pawn Payday Loans Review

Super Pawn Payday Loans ReviewMany pawn shops out there also dabble in payday loans, and Super Pawn has payday loans offered at many of their brick and mortar locations. This might make it doubly convenient because you can see if maybe pawning something might be a better way to go, of if a payday loan makes more sense.

Why would you want to go with a payday loan from Super Pawn rather than from a dedicated payday loan provider? Many of the online payday loans you can get are run by companies that don’t maintain a physical presence. The importance of a real physical location is definitely understated. It means that the business is committed to the local community, and they are registered to do business in the state. They are also more likely to give you good service, and there will be a face that you can put to the business, not just an online website.

As far as the fact that this isn’t a dedicated payday lender, pawning goods and getting a payday advance are pretty similar in nature, and there’s no reason to think that they wouldn’t be able to handle both transactions. If you need cash, there are only a few different ways to get it if you don’t have the credit to go to a bank. Pawning items is one way, which is a way to get better loan rates and due dates because you’re using the value of the goods as collateral on the loan. With a payday loan your job is collateral.

Our Super Pawn Payday Loans Review

What you’re looking for is a business that has the cash available to loan to you, and one that will abide by state and federal laws when it comes time to collect the money. Super Pawn has been around for several years now, and they’re a chain, not just a mom and pop pawn shop. This means that they’ve got the financial backing to make the loan, plus they can also be trusted to hold onto your goods if you want to pay the loan off and get your stuff back.

Pawn Might Be Better
It’s often better to pawn an item if you have something of value rather than take out a payday loan. The payday loan fees are set at a higher rate because there’s nothing backing them. Your promise to pay is all the lender has to go on. For that reason they won’t give you very good rates, and the money will be due back on your next payday. With a pawn loan you’ll be able to make payments on the money you borrow, and pay less in fees for the loan.

Two Different Products
The pawn and the payday loan represent two different financial products, and are not connected in any way. If you want to take out a payday advance, you’ll only need a job and no collateral. If you want to pawn something you will still need to show proof of being able to pay back the loan, but it’s not considered a payday loan because it’s not associated with your payday. They just want to verify your income.

Drawbacks of Pawns and Paydays
The drawback to pawning an items is that you might lose it if you don’t make your loan payments and someone buys your item. On the plus side this might keep you motivated to pay the loan off and get your stuff back. Contrarily if you don’t pay your payday loan off on time the lender has no other recourse than to try to collect, and eventually take you to small claims court if they don’t hear from you.

Our Recommendation
It’s definitely worth a visit to Super Pawn to see how they can help you. Bring something of value that you wouldn’t mind saying goodbye to if you had to, and see what they offer you. If you think the offer is reasonable it makes sense to get a pawn loan. If you don’t think the price is right, they may be able to set you up with a payday loan if you meet the qualifications. Chances are you will as long as you have a job and meet income requirements.

Add Your Own Experience to Our Super Pawn Payday Loans Review Below

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