There are many myths about pawn shops that are simply untrue! Contrary to how pawn shops are depicted in popular media, the majority of pawn shops are completely legit, honest businesses that help customers get the cash they need in their everyday lives. In this article, we’ll debunk some of the most common myths about pawn shops and provide you with some information that will show you why pawn shops are in fact trustworthy businesses that you can rely on!
Myth: Pawn Shops Buy Stolen Items
Fact: Empire Loan does not buy or offer pawn loans on any stolen items, and we have several precautions in place to ensure that every item we buy or accept as collateral for a loan is being brought to us by the legal owner of the item. All transactions made at Empire Loan are reported to local law enforcement on a daily basis, customers must provide a valid, government-issued ID and we take pictures of the customer and the items they bring in to conduct a transaction.
Myth: Pawn Shops Charge Exorbitant Interest Fees On Loans
Fact: Pawn loan interest rates are regulated by state governments. Empire Loan’s locations in Massachusetts only charge 3% interest per month on the pawn loans we offer, which means that if you get a loan from one of our stores in MA for $300, you’ll only owe $9 in interest per month; a small price to pay to get the cash you need exactly when you need it!
Myth: Once You Pawn An Item, You’ll Never See It Again
Fact: Here at Empire Loan, we are proud to report that over 90% of our pawn customers get their items back! When you receive a pawn loan from us, your item(s) will be stored in our safe and secure vaults and storage facilities until you return to our store to pay off your loan and get your item(s) back! The only situation in which you will not get your item(s) back is if you do not pay off your loan or interest by the due date and there are no repercussions for not paying it back.
Myth: Pawn Shops Don’t Sell High-Quality Items
Fact: At each of our eight locations in Massachusetts and Rhode Island, we stock a constantly changing selection of unique, high-quality items like gold, silver, and diamond jewelry, musical instruments, electronics, valuable collectibles, designer handbags, and so much more! If you are looking to purchase something for yourself or are looking for a great gift for a loved one, Empire Loan offers high-quality items at huge discounts that other stores simply can’t compete with!
Contact Empire Loan!
If you have any questions about pawn shops or are curious about how the pawn loan process works, please contact Empire Loan at any of our locations in New England today! With eight locations across Massachusetts and Rhode Island, we’re proud to be New England’s most trusted & reliable pawn shop! Contact us today at your local Empire Loan location or call us toll free at +1 800 375-PAWN!
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1130 Washington St.
Boston, MA 02118 - (617) 423-9366
- Monday – Saturday 9:00am – 6:00pm
Closest Public Transit
Silver Line or Bus Route 11
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700 Southbridge St.
Worcester, MA 01610 - (508) 757-1150
- Monday – Saturday 9:00am – 6:00pm
Closest Public Transit
Bus Routes 25 and 42
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358 Broad St.
Providence, RI 02907 - (401) 273-7050
- Monday – Saturday 9:00am – 6:00pm
Closest Public Transit
Route 11 Broad St.
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1271 North Main St.
Providence, RI 02904 - (401) 437-8421
- Monday – Saturday 9:00am – 6:00pm
Closest Public Transit
Route 99 N. Main Street
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1304 Acushnet Ave.
New Bedford, MA 02746 - (508) 997-1307
- Monday – Saturday 9:00am – 6:00pm
Closest Public Transit
Bus Route 2, Lunds Corner
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353 Washington St.
Stoughton, MA 02072 - (781) 341-2500
- Monday – Saturday 9:00am – 6:00pm
Closest Public Transit
Bus Route 14 to Stoughton
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731 Lakeview Ave.
Lowell, MA 01850 - (978) 513-2300
- Monday – Saturday 9:00am – 6:00pm
Closest Public Transit
Route 11 Broad St.
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431 Lynnway
Lynn, MA 01905 - (781) 586-8383
- Monday – Saturday 9:00am – 6:00pm
Closest Public Transit
Bus Route 442