What is a pawnshop for?

Pawn company: also known as pawnshop, it is an informal marginal financial institution that specializes in issuing pledged loans, and it is a market intermediary organization that mainly lends money, supplemented by commodity sales.

Pawnshops are mainly engaged in mortgage loan business and pledge loan business, that is, modern pawnshops. In the past, you needed money, but now you have no money. You can mortgage your "valuable" things there, exchange some money for use first, and then redeem them when you have money later.

Generally speaking, pawn is a way of borrowing and financing with property as pledge within a fixed period of time. This is a financing method of exchanging goods for money. As long as the customer repays the principal and pays a certain comprehensive service fee (including storage fee, insurance premium and interest, etc.). ) within the agreed time, you can redeem the pawn.

Extended data:

The basic process of pawn can be simply summarized as three parts: handing in, receiving and keeping. The specific operation steps are as follows:

1. The pawnshop shall deliver valid vouchers to the pawnshop.

2. Pawnshops accept pawn appraisal.

3. Both parties agree to evaluate the price, pawn amount and pawn period, and determine the legal interest rate standard.

4. Pawnshops shall keep pawning vouchers of pawn shops.

5. Pawnshops issue pawnbrokers to pawnbrokers and pawnbrokers to pawnbrokers.

References:

Baidu encyclopedia/pawn