Frequently Asked Questions
What is a Pawn?
A pawn is a way to borrow cash immediate by using items you already own as Collateral. You have 4 month and 10 days (8 month and 20 days on most jewelry pawns) to reclaim your item or renew. The difference between selling your item or pawning your item is: Pawn: You own the item and can get it back (redeem) when you pay back the loan plus the charges. the option to buy the item back. Sell: You sell your item giving all rights of ownership to the buyer without the option to buy the item back.
What is the minimum and maximum amount of money I can borrow?
We can offer you between $5.00 to $1 million. We review each item individually and will let you know the value.
What is the Interest Rate for my loan?
Maxferd Jewelry and Loan San Francisco offers loans which adhere strictly to the California Financial code. This means our loan periods and interest rates are strictly regulated by the State of California so you will never be overcharged. We offer a 4 month loan on all items which can be renewed at any time to extent your loan with us. We go even further with Jewelry Loans under $2500 by offering our customers the option to “Rollover” the loan at the end of the 4 month period without paying any interest or principal payments for an additional 4 months, therefore giving our customers up to 8 months with no payments. Currently interest rates are set by The State of California for all loans under $2500 and that rate averages to apx 3% per month on almost all loans with a processing fee that ranges from $5-$30 depending on the loan amount. If you have any questions regarding the exact amount you will pay back we are happy to help. Just give us a call and we can go over the exact details of any loan you may need. But don’t forget we also give a promotion rate of 0-1% for first time customers. Again, give us a call to discuss the details.
What can I pawn or sell?
Precious metals & coins
Loose diamonds & precious gemstones
High end DLSR cameras & equipment
Lap tops and computers
Certain collectibles Lalique, Lladro& certified art
Cars, Boats, Rv, Airplanes.
How long do I have to pay off my loan?
You have 4 month and 10 days (8 month and 20 days on most jewelry pawns) to reclaim your item, or you can also renew your loan by simply paying the interest due to extend the loan for an additional loan period. We will always try to help in anyway we can.
Do I have to make monthly payments?
No, no monthly payments. If you pawn an item with us, the amount is due when you redeem your loan. You can utilize the whole term or redeem before the end of the the term No prepayment penalties.
What happens to my item if I decide not to pay back my loan?
You will loose the item, 87% of our customers reclaim their pawned items. Since we hate selling items of sentimental value, our financial department is always willing to work with you for some more time.
Will defaulting on a loan affect my credit score?
We do not report people to credit agencies.
If I defaulted on a loan, can I get another loan?
Yes, we lend on the value of your item.
How are my items stored?
Your item is stored in a secure vault for the entire duration of its loan period. Our vault is located in our stores the loan is bar-coded and stored in a vault accessible only via bio-metrics security.
Can I buy items?