Pawn shops are often known for taking in various electronics as collateral for loans, but electronics can also be the most challenging items to evaluate. The minute you buy a new TV, computer or sound system, there seems to be a newer model coming out that lowers the value of what you just purchased. Game consoles are the same way but surprisingly, the value of some game systems have actually remained strong.
Play Station 3: When Sony introduced the Play Station 4 (PS4), everybody predicted that prices were going to fall. Now, almost a year later, PS3’s are still selling strong on sites like EBay meaning pawn shops like Empire Loan would be offering loans for as much as $30 to $60 depending on the number of gigabytes, conditions and accessories or games.
Play Station 4: As of this writing, the new PS4’s from Sony are selling for anywhere from $350 to $600 depending on what is included. The average price seems to be right around $400 which means Empire Loan would be offering around $100 on a loan. At this time, that seems to be the game console that gets the largest loan.
Xbox 360: Microsoft’s game system, the Xbox 360 has not held its value as well as Sony’s Play Station has, selling for anywhere from $70 to $150 depending on condition, GB and accessories. This means we’d buy or loan as little as $20 but probably not much more than $30 or $40. , but could offer a loan for as much as $60 for the right system.
Personal Gaming Systems: Items such as the Nintendo DX-XL and Sony PS Vita are also popular items that customer have been able to get loans on for up to as much as $50 or $60. As with any electronic device, they must be in great working condition and come with all necessary accessories.
Finally: Why go to a pawn shop when game stores “buy’ items? Simple, Pawn shops like Empire Loan pay cash on the spot. Many gaming stores offer credits for in-store use only. Which would you prefer?
If you want to play, make a pawn shop like Empire Loan your first stop!
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