Pawn

Getting you cash, right when you need it

Our pawn policy is set by the state of New Mexico and requisite Federal laws and statutes.

We are also a proud member of the National Pawnbroker’s Association.

What is pawning?

Pawning is exactly the same as a loan, but with little-to-no financial background being required. In short, when you pawn an item you are taking out a loan based on an object you intend to pick back up for the price loaned plus interest.

Pawning an item is NOT selling an item:

If you intend to not return to the store to pay off your loan, please consider selling the item outright instead of pawning it.

Common items we accept for pawn:

  1. Functional, safe, unloaded firearms.
  2. Bows.
  3. Jewelery (we do not accept zirconium stones, gold-plated materials, or imitation metals, stones or gems).
  4. Televisions more than 4 years old.
  5. Gaming systems (Only the latest versions of each gaming platform¬†— no older systems are accepted).
  6. Traditional Navajo and Native-American goods: Blankets, shawls, turquoise accessories (no nickel plate), and others.
  7. Musical instruments and sound amplifiers (minus keyboards).
  8. Functional, American-made tools–no guarantees can be made on foreign tools or electronic tools; they will be judged on a case-by-case basis.
  9. Other market-valuables.
  10. Lightly-used saddlery.

East Main Trade also reserves the right to deny a collateral object for any reason, on any occasion. No items are presumed to be in fully-functional order when loans are made and East Main Trade is no responsible for damages that may occur from items falling out of use over an extended period of time.

Common items we do NOT accept for pawn:

  1. Any item that has a loan value of less than $10.
  2. Old electronics.
  3. Bicycles or any other form of transportation.
  4. Most fishing gear (only high quality gear is even considered).
  5. Items too large for storage.
  6. Non-tangible contracts (e.g., title-loans).
  7. Paintball or airsoft guns.
  8. Personalized goods.
  9. Heirlooms and antiques.
  10. Any and all abused items.
  11. Home, car, personal audio equipment.

If you aren’t sure if we would pawn something you have, please feel free to call us at 505-326-7474 so we can let you know if it is an item we can make a loan on.

All pawn loans are 30 day notes. All notes are honored for 90 days without payment, but customers are encouraged to make payments at least once every 30 days or pay the loan plus interest back within 30 days of making the loan or latest payment, in order to avoid any and all late charges.

Breakdown:

  1. Interest rates vary depending on the amount of the loan made.
  2. In short, if the customer does not come make a payment at least once every 30 days s/he will accrue late fees.
  3. If the customer does not make at least one payment every 90 days the loan will be considered default on the part of the person’s negligence to honor his/her contract, thereby exonerating East Main Trade from any and all liability.
  4. By signing the pawn ticket at the time of the loan, you are explicitly agreeing to the contract set forth on the ticket and are acknowledging your responsibilities to pay back your debts to the fullest extent of the law.

As per New Mexico law, debts for loans must be paid back in the same medium by which the loan was given. Accordingly, we can only accept cash for loan repayment because that is the medium by which we make loans: We give you cash, you give us collateral. To end the loan, we give you back your collateral, you give us cash.

Pawn Policy:

East Main Trade Center reserves the right to refuse to make any loan, for any reason. Common problems for loan approval:

  • A dysfunctional collateral item: All items must be in working order to the best extent of our knowledge prior to making the loan.
  • Insufficient collateral items: Often, many people simply ask for too much for their items. Because used items have extremely smaller value than that of new products, loan prices will not be based off of new-price of the item in question.
  • No proof of ownership: Sometimes, items of the more expensive sort may require some proof of ownership — if you do not meet our guidelines and cannot prove the collateral item as your own, without lien, we reserve the right to deny the approval of any loan.

The above information on the website is for informational purposes only and does not fully express the nature of the contract. Only by reading the contract on the pawn-ticket itself are you reading the actual loan contract; East Main Trade is not liable for information listed on this site as fully true but, instead, as information to help those unfamiliar with loans understand the concept. East Main Trade reserves all rights regarding this information, see our disclaimer.