FAQ
Frequently Asked Questions
How does a pawnshop work?
Pawnshops do short term collateral loans on items of value. All loans are non-recourse loans meaning nothing goes against your credit if you do not repay. Atlas Loan & Jewelry lends money on items of value ranging from gold and diamond jewelry, musical instruments, televisions, electronics, coins and more. Loans are based on the value of the item. In California the loan term is 4 months with a 10 day grace period and can be renewed or redeemed at any time. All fees and rates are regulated by the state.
Atlas Loan and Jewelry will also buy items if the customer prefers to sell. We normally offer more money for purchases compared to loans.
How do you determine the value of an item?
Our experienced staff at Atlas Loan & Jewelry will use all of the resources and tools we have to determine your items value and get you the most cash possible. The value is based on your items current condition, our ability to resell the item and the items current appraised value. All items are tested to ensure accuracy and in the case of electronics to ensure they work properly.
What type of identification is needed?
California requires all pawning or selling customers to be a minimum 18 years old with a valid ID. Acceptable forms of identification include state issued drivers license, state ID card, US and International Passports and Matricula Consular ID cards.
What happens at the end of the loan term?
Loan terms are 4 months with a 10 day grace period. At the end of the four months Atlas Loan & Jewelry is required to mail you a notice giving you an additional 10 day grace period. Loans can be redeemed at any time by paying off the loan principal, interest and all fees. If you are unable to pick up your item by the contracted due date you can renew your loan by paying all outstanding interest and fees and receive a new replacement loan.
Loans are forfeited (lost) if not paid in full or renewed by the contracted date. After the 10 day grace period the items are forfeited and become the property of the pawnshop. This action does not affect the customer's credit because all loans are non-recourse.
Pawnshops do short term collateral loans on items of value. All loans are non-recourse loans meaning nothing goes against your credit if you do not repay. Atlas Loan & Jewelry lends money on items of value ranging from gold and diamond jewelry, musical instruments, televisions, electronics, coins and more. Loans are based on the value of the item. In California the loan term is 4 months with a 10 day grace period and can be renewed or redeemed at any time. All fees and rates are regulated by the state.
Atlas Loan and Jewelry will also buy items if the customer prefers to sell. We normally offer more money for purchases compared to loans.
How do you determine the value of an item?
Our experienced staff at Atlas Loan & Jewelry will use all of the resources and tools we have to determine your items value and get you the most cash possible. The value is based on your items current condition, our ability to resell the item and the items current appraised value. All items are tested to ensure accuracy and in the case of electronics to ensure they work properly.
What type of identification is needed?
California requires all pawning or selling customers to be a minimum 18 years old with a valid ID. Acceptable forms of identification include state issued drivers license, state ID card, US and International Passports and Matricula Consular ID cards.
What happens at the end of the loan term?
Loan terms are 4 months with a 10 day grace period. At the end of the four months Atlas Loan & Jewelry is required to mail you a notice giving you an additional 10 day grace period. Loans can be redeemed at any time by paying off the loan principal, interest and all fees. If you are unable to pick up your item by the contracted due date you can renew your loan by paying all outstanding interest and fees and receive a new replacement loan.
Loans are forfeited (lost) if not paid in full or renewed by the contracted date. After the 10 day grace period the items are forfeited and become the property of the pawnshop. This action does not affect the customer's credit because all loans are non-recourse.
