1. We lend based upon the current resale value of an item. how to start a conclusion for an argumentative essay This value takes into account a variety of factors including the age of the item. Is it still desirable or has a new product made it obsolete or decreased its value.

For example: video game systems outdate very quickly, a product that was worth P5,000 3 years ago may be practically worthless because no one will purchase an outdated platform. Another example would be the nearly 50% depreciation in the value of new VCR’s as DVD becomes more mainstream.

2. Is the item complete? Item’s are often purchased with accessories such as remote controls, AV cables, battery packs etc. If these items are missing it may radically effect the pricing of a possible loan – especially if the missing accessory contains controls or other things that are essential to the operation of the item.

3. Are there factors effecting the ‘end cost’ of the item?

4. Supply and demand plays a part in value evaluation. What is the current demand for the item – high or low? Do we have an overabundance of a particular item in stock?

5. Are there outside issues effecting the market valuehelp with papers of the item? This may include any possible repair or appraisal costs. These issues may reduce the possible resale value or increase the overall cost of an item and as such lower the possible loan amount.

We attempt to loan the highest amounts that are feasible for our customers, within the current marketplace.

On average, 70 percent of all loans are repaid. Repeat customers make up most of our business, similar to any other lending or retail establishment. We know the majority of our customers because they often borrow against the same items over and over again. It is the choice of the customers whether he/she elects to repay the loan.

Less than one fifth of one percent of all collateral is even suspect as having been misappropriated in any manner. Thieves and robbers are a pawnbroker’s worst enemy. Pawnbrokers work closely with local law enforcement to catch and prosecute these perpetrators. A customer must provide identification when obtaining a loan. These precautions decrease the likelihood that a thief would bring stolen merchandise to a pawnshop. Loan officers are trained to look for signs of stolen property. It is not the intent or desire of the pawnbroker to accept potentially stolen merchandise under any circumstances.

Interest rates are state regulated, offers one of the nation’s lowest interest rates