9 Reasons Why You Should Buy Used Items From Local Pawn Shops

Buying good quality used items from local pawn shops can save you a lot of money instead of buying new items from traditional retail stores. Used items are typically much cheaper than new items, and this can be a great way to get more bang for your buck. Not only will you save money upfront, but you can also save money in the long run by avoiding depreciation costs associated with new items.

Many people have never visited a pawn shop because they believe myths that pawn shops only have old and outdated items. While pawn shops do carry some antiques, most of the inventory at local pawn shops is nice quality. You can find terrific deals on a wide range of items such as jewelry, televisions, power tools, watches, and more.

Pawn shops offer many hard-to-find and unique items, too. People often pawn and sell family heirlooms and unique items. Buying used items from local pawn shops can also be a great way to support local businesses.

Pawn Shop Map created a special tool to help you find local pawn shops near you. Our tool can help you filter local pawn shops by category so you can find exactly what you need.

Below is a list of the top reasons why you should buy from local pawn shops. We also recommend reading tips for finding the best pawn shop to help you get started and find your next bargain.

#1. Lower cost

Buying used is often much cheaper than buying new, which can be especially helpful if you are on a budget. Typically a new item loses 30% to 50% of its value immediately after someone buys it. Buying used enables you to take advantage of this phenomenon and avoid the upfront depreciation associated with buying new items.

Most items at pawn shops have already taken the upfront depreciation. When you buy an item from a pawn shop, you do not have to worry about a huge value loss from depreciation.

#2. Ability To Negotiate

Pawn shops allow you to negotiate prices. This means that the item’s sticker is almost never the price you will end up paying. Follow our pawn shop negotiating tips so you can score a big win on your next visit.

While there is no set rule, generally you can negotiate a 10% to 30% discount on many items. The final discount level depends on the pawn shop and pawnbroker. Sometimes the item might have been sitting in the pawn shop’s inventory for a long time and the pawnbroker could be more inclined to convert it to cash.

#3. Quality

Pawn shops thoroughly inspect items and only accept items that are functional and working. Pawnbrokers do not like to accept junk and gimmicky items that will break. You can often find quality used items that have been reviewed by the pawnbroker.

#4. Support local businesses

When you buy used, you are supporting local businesses and helping to keep money in your community. Pawn industry statistics show that most pawn shops are small businesses and are locally owned. When you buy from a pawn shop you are helping local families and your local community.

#5. Environmentally friendly

Buying used reduces the amount of waste and pollution created by manufacturing new items. Buying used means you are helping save the planet for future generations.

#6. Unique items

Buying used often means you can find unique items that you would not be able to find in stores. Many people pawn and sell family heirlooms and precious antiques when they no longer need them or need to convert them to cash. Stores like Target and Walmart do not carry these rare finds - often the only place you will find them is at pawn shops and antique stores.

#7. Lower Total Cost Of Ownership

When you buy used, you are able to buy the item for a much lower cost than new. If you use the item for some time and later decide to sell it, the amount of money that you can sell it for will likely be close to what you bought it for. The difference between the price you bought it for and the price you sold it for is known as the total cost of ownership.

Buying new has a much higher total cost of ownership. Buying used can lower your total cost of ownership by 50 to 90%. Let’s look at an example that shows the total cost of ownership can be almost 90% less when buying used:

• Buy new: Buy a new Seiko watch for $300 from Target, and sell it one year later for $50. Your total cost of ownership is $250 ($300 minus $50).
• Buy used: Buy a used Seiko watch for $80 from a local pawn shop, and sell it one year later for $50. Your total cost of ownership is $30 ($80 minus $50).

#8. Better for the economy

Buying used helps to keep money circulating in the economy, rather than going to large corporations and foreign manufacturing. Most consumer goods are manufactured overseas - this means that buying new items supports other countries.

Buying from pawn shops helps support the economy by keeping your hard-earned dollars circulating in your country.

#9. Having Fun

Finding a deal can be very satisfying. Many people say shopping at pawn shops is like hunting for treasures. Finding your next bargain can be a rush when you know you saved big money instead of buying retail.

Conclusion

Shopping at your local pawn shop has many advantages over buying new items from big box retail stores. Use Pawn Shop Map to find local pawn shops in your region, and get started bargain hunting today.