You might have driven past that local pawn shop just down the street from you without really thinking twice about it. But local pawn shops can play an important role in many towns or even larger cities. Pawn shops are a great place to get a quick short-term loan and these shops can also provide an affordable way to get certain goods that the customer would not otherwise be able to afford. Here's why it might be worth it to stop in to your local pawn shop and take a look around.

Pawn Shops Sometimes Offer Small Loans Based on Collateral

If you need a quick loan and don't have great credit, your local pawn shop might be your only option or at least an option you haven't previously considered. Some pawn shops will offer small loans based on the value of an item that you use as collateral. If you pay the loan back in time, the pawn shop might make a bit of money through interest, but if you don't pay it back, the pawn shop will still make money because they'll get to keep the item you used as collateral. You should not use this option if you can't guarantee that you will pay back the loan on time, but otherwise, it could help you out in a pinch.

A Pawn Shop Can Provide a Quick and Easy Sale Compared With Listing an Item on an Online Marketplace

If you just want some quick cash for the weekend, you might think of selling an old item sitting around the house on an online auction site or marketplace. But you'll have to pay listing and possible final value fees that will decrease the amount of money you get in the end, and there may even be a delay between the buyer paying you and the marketplace releasing the funds to your bank account. When you use a pawn shop, you can walk out the door with cash immediately and without having to deal with a trip to the post office or a public meetup with the buyer.

You Never Know What Kind of Treasure You Might Find at Your Local Pawn Shop Until You Go Inside

Pawn shops can be especially fun to peruse as a buyer. Pawn shops get a lot of jewelry or expensive electronics like TVs or video game consoles from time to time. Maybe you want to treat yourself to something shiny or fun and entertaining, but you don't want to pay full retail price. Your local pawn shop will likely have you covered.