Making Pawn's Easy & Affordable
How Our Pawns Work
The world of pawns can be daunting, but Hock Stars aims to make pawning your item easy, and affordable. We operate our pawn service as a community program that helps people get back on their feet with dignity. Everyone falls on hard times, and with a pawn service, you don't need to choose between selling your hard earned possessions and having the cash you need.
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We have made pawning affordable by minimizing the costs, and only charging you the fees and expenses associated with the program.
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Our pawns only include the costs required to operate the program which include an administration fee, a storage fee, and an insurance & security fee.
Our Admin Fee
Our admin fee covers the costs to bring an item into pawn, as well as to manage the pawn. We have two levels of admin fees based on the amount borrowed through the pawn.
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For any amount under $1000, the admin fee is set at 4% per month.
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For any amount over or including $1000, the admin fee is set at 2.9% per month.
Our Storage Fee
As a pawn service relies on the value of an item, the items needs to be stored in a way that protects them, and ensures it maintains its value. Our on-site storage fee exists to allow you to easily, safely & affordably store your item in the location closest to you. Seamlessly dropping off your item for a pawn, and pick up your item once the pawn is redeemed. Storage fees are based on the size of your item, and the location. These fees are necessary to cover the costs of renting the space needed to store your items safely.
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Alternative storage can be arranged at the pawner's expense if they so choose, and the space meets our criteria.
Our Insurance &
Security Fee
We store all items in a secured location, so that they are kept safe, and private. As such we maintain a high standard of security, as well as maintain insurance on all items we offer pawns on. The Insurance & Security Fee includes the costs associated with keeping your valuables safe, as well as covering your valuables in the event that anything was to happen to them.
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At this time our insurance and security fee is 1.8% of an item's value that is stored on site.
Criteria For Alternative Storage
If you feel it necessary to store your items in an alternative space, we are able to work with you to do so. Our on-site storage is meant to be an economical and easy way to store your items, however, you can choose to store your items elsewhere at your expense if you so choose, and the storage meets our criteria.
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Any alternative storage must be overseen by a third party legal representative who acts on behalf of both Hock Stars and the owner of the item. The item must be held in trust by the representative in a secured indoor temperature controlled area with acceptable security. The item must be insured for the full replacement cost with Hock Stars listed as the first beneficiary.
The item must be transported at the pawner's expense to the alternative location by a bonded and insured carrier from the Hock Stars location providing the pawn, and must be transported back to the same location for pickup once the pawn is redeemed at the pawner's expense.
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Please see us in store for additional details.
Ar-Rahnu Pawns
Our pawn program does not contain interest payments, instead we charge based on the administration of the pawn, the storage costs, and the insurance and security costs. This arrangement of our fees allows us to provide pawn loans to members of religious groups who are unable to use a traditional pawn program.