Pawn & Selling

Pawn Loans are collateral loans. This means we will offer you a loan on something that you own. Most of our locations only offer loans on jewelry or guns, but our New Circle Road and Nicholasville Road locations will also offer loans on electronics, tools and other miscellaneous items. We will make you an offer based on a percentage of the value of the item you bring to us. It is best to let the pawnbroker know how much you need to borrow. So, for example, if you need to pay your electric bill, first let us know how much you need! We want to make sure it is easy for you to repay your loan- that way you won’t have any trouble getting your item back!

The interest is 20% of the amount of the loan. For example, if you borrow $100, it will cost $120 to pick up your item within the first 30 days. If you aren’t able to pick it up within 30 days, you can just make your interest payment and we will hold it for an additional 30 days.

We will hold your loan for 90 days and will require you to make 20% interest payments every 30 days. For example, if you borrow against a loan on September 1st, your expiration date will be December 1st. If you do not make any payments between September and December, you will owe 3 interest payments and your principal (original loan amount) when you come to pick it up. This is why we recommend making your 20% interest payment every 30 days to keep from getting behind!

As long as you never get more than 90 days behind, we will continue to allow you to renew your pawn each month. If you fall behind the 90 day allowance, the merchandise will become The Castle Jewelry’s property and will be sold.

OF COURSE! We will keep your pawn in a secure area, labeled with your name and pawn number. It is not touched until you come to pick it up. If you get a loan on jewelry, it is kept in one of our safes. We are fully insured for all collateral that we keep!

YES! We will pay you cash on the spot for the amount of your loan.

NO. We do not report to credit agencies and do not perform a credit check, but it is important to stay in good standing with The Castle Jewelry and Pawn. Your loan will be based off how much you need to borrow and the item, or items, you use for collateral. If you have a good redemption ratio with us, we are more likely to be able to offer you a little more on your merchandise if you need it and we are able to! You do not want a low redemption ratio. If you do not intend to pick up you pawn you should sell it to The Castle Jewelry instead of hurting your credit with us.

That is not a problem at all! Just let the associate helping you know that you do not want your items back. They will make you a cash offer and you will be good to go!

VERY RARELY! Less than 1/10 of one percent of all pawned items are stolen goods. We submit all of our pawn information to the police through a program called Leads on Line. If something that comes in is in fact stolen, we work very closely with the police to be sure it is returned to the original owner and that the person who pawned it is held responsible!

Make sure you have the item you want to get a loan on and state issued identification, such as a driver’s license.