Empire Pawn, Nassau County, Long Island, NY
   
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(516) 520-5252

   
2386 Hempstead Turnpike | East Meadow, NY 11554
 
 
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  Home | How it Works | Selling

How Instant Loans Work

Empire Pawn of Nassau Makes It Easy

Cash for Gold Nassau County, Long Island, NYHow Does a Loan with Empire Work?
When you bring in a piece of jewelry or other item to Empire, that property is appraised by a professional jeweler. If you choose to take a loan out or "pawn it" instead of sell it, the item becomes collateral against the loan, and you receive cash against that collateral.

Empire offers cash at high value for the item, very competitive loan rates, and you will not be put through a credit check. The item is stored our state-of-the-art vault for safe keeping throughout the time of the loan. Above a $250 value, the item is stored securely in a bank vault. Once it is repaid, you’ll receive your property back in pristine condition.

However, if you don’t repay the loan within the time set forth in the terms, the collateral then becomes the property of the pawn broker. To view Empire’s loan terms, click here.

For more information on getting a loan on your specific gold, jewelry or other item, go to our selling section.

Loan Terms: Minimum and maximum period for repayment: All Empire Pawn loans are for a period of 4 months unless the customer picks up their loan sooner, and is renewable for an additional 4 months if the customer pays the interest due for the first 4 months. Here are two examples of loans, their terms (period of loan in months) and their corresponding interest rates:

  • $100 borrowed for 1 month: Payback in 1 month is $116 including interest and fees. Annual interest rate including interest and fees is 192%
  • $100 borrowed for 4 months: Payback in 4 months is $128 including interest and fees. Annual interest rate including interest and fees is 84%
  • $1,000 borrowed for 1 month: Payback in 1 month is $1,080 including interest and fees. Annual interest rate including interest and fees is 96%
  • $1,000 borrowed for 4 months: Payback in 4 months is $1,200 including interest and fees. Annual interest rate including interest and fees is 60%

Maximum fees are set by New York State. For a sample loan, click here.

 

Have a question for us? Call us today at (516) 520-5252.

 
 
 
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