CASH INN LTD
Pledge/Pawnbroking Loan
You don't need to have a credit check or guarantor.
You can borrow £10 to £50,000 in cash for up to 7 months.
You can make cash repayments anytime during your loan period.
We'll hold your items securely for the duration of your pawn loan and, once your balance is paid off by cash, you get your assets back - its as easy as that.
A Pawnbroking Loan or otherwise known as a Pledge, is a short-term 7 month loan, secured against items of Gold, Silver, Platinum Jewellery or Quality Watches. The amount of the loan is dependant on the item(s) provided as security.
Simply take your item(s) to your local Cash Inn Ltd shop, our trained staff will value your item and agree a loan amount with you that you feel comfortable about repaying. We give you the cash and keep your items safe and secure until you come back.
During the term of the loan, you can make payments of any amount at any time to suit you. By making these payments you will reduce the cost of your loan. Interest accrues on a monthly basis and our maximum representative APR is 199.4% for a primary 7 month loan term. when you make your final payment to repay the loan you will receive your item(s) back.
This service is only offered in store and is subject to usual due diligence checks, if you have any further questions regarding our pawnbroking service then head into one of our stores for further guidance or information.
What is a Pledge/Pawnbroking Loan
What does a pawnbroking loan cost?
Our interest rates are variable depending upon how much you borrow. Contact us for more information or visit your local branch.
Representative example Smaller Loan:
Total amount of credit £200.00 for 7 months
Total amount payable £379.20
Total charge for credit £179.20
Interest rate 153.60% pa (fixed) equivalent to 12.8% per month
Representative APR 199.4%
Representative example Larger Loan:
Total amount of credit £6000.00 for 7 months
Total amount payable £8940.00
Total charge for credit £2940.00
Interest rate 84.00% pa (fixed) equivalent to 7.00% per month
Representative APR 98.10%
What is an APR?
An APR (Annual Percentage Rate) is the cost of credit expressed as a yearly rate. A Pawnbroking Loan is not designed to be a long-term loan. A Pawnbroking Loan charges interest daily which means the cost of credit could work out to be cheaper than unauthorised bank fees. (Representative APR 199.4%)
What happens if the Loan is not repaid?
In the event of you being unable to repay your pawnbroking loan, your item(s) will be sold in order to repay the amount outstanding.
In the event where a customer is struggling to pay their loan, we ask that they contact us directly so that we may work together to try come up with a solution or provide additional help.
What Does Cash Inn Ltd lend against?
At Cash Inn Ltd you can borrow cash against your Gold, Silver, Platinum, Palladium, Diamond Jewellery and Quality Watches.
Some of the more common items we regularly lend against for our customers include: Ladies Rings, Gents Rings, Diamond Rings, Earrings, Necklaces, Bracelets, Bangles, Anklets, Pendants, Chains, Chokers, Pure Gold, Brooches, Victorian Gold, Gold Coins, Gold Bullion, Gold Watches, Diamond Set Pendants. Gents and Ladies Watches from brands including Rolex, Breitling, Omega and Cartier (the condition of the watches will greatly effect the price, this includes box and papers).
Struggling to repay your pawnbroking loan?
We understand that things happen in life that has an impact on your finances. That is why pawnbroking exists to assist you with a short term loan in times of need.
We also appreciate though that this may have an impact on your ability to repay your loan with us, and we appreciate that your jewellery which has been used to secure your loan, may be sentimental to you, if so please contact us so that we may do what we can to help.
The simplicity of pawnbroking, allows you to walk away and there are no debt consequences. No-one will chase you for the debt, we will simply sell your jewellery to repay the loan.
We also understand that pawnbroking maybe just one of your debts and you must manage your financial situation in its entirety. It is best to prepare a budget of what you can afford taking into account your priority debts such as mortgage or rent, gas or electricity. If you need help with budgeting or prioritising your debts the following organisations can give you free, confidential and impartial money guidance and debt advice.
Citizens Advice: Free Debt advice via phone 0345 404 05 06 or visit https://www.citizensadvice.org.uk/
Money Advice Service: Free, easy-to-use money tools, information and advice. You can phone 0800 138 7777 to speak to a money expert, or visit www.moneyadviceservice.org.uk
StepChange Debt Charity: Free debt advice throughout the UK phone 0800 138 1111 or visit the website www.stepchange.org
We are authorized and regulated by the Financial Conduct Authority for pawnbroking.
We adhere to strict AML (Anti-Money Laundering) Rules and Regulations. We comply fully with the SMCR (Senior Manager Certification Regime).