Many people think of find pawn shop services as shady, but they can be a great resource for those in need of quick cash. As regulated financial institutions, pawnshops (also called pawnbrokers) help out individuals who need to borrow money by offering up personal items as collateral. They also sell new and used merchandise that is often more affordable than buying the item brand-new at a retail store.

Whether you’re shopping for a gift or need some extra cash, here are some of the best ways to find pawn shop services near you.

Pawn Your Jewelry Easily with These Expert Tips

The first function of a pawnshop that most people think of is the one where you bring something into the shop in exchange for a cash loan at a high interest rate. Then, if you pay back the amount of the loan (plus interest and fees) within a set period, the pawnshop will give you your item back.

2. Purchasing Items

Pawnshops have long been a popular way to buy inexpensive goods like jewelry, tools, electronics and collectibles. However, it’s important to do your research to find the best pawn shop for you and to make sure that you’re getting a fair price. For example, if you’re shopping for vintage vinyl records, remember that pawnshop owners are resellers and not collectors. As such, they may not be able to fetch the prices that you’d get from a record collector. It’s also a good idea to use cash, rather than credit, for purchases at a pawnshop, as this will force you to stick with your budget and avoid overpaying.