Bellow is a list of the most Frequently Asked Questions and the answer. Should you have any other questions, please click here to send us an email with your question.
- What is your return policy?
All of our products offered and purchased in the store typically have a Cash & Carry policy. This means please view and inspect the item and use it (tools & electronics) if you would like as we don't typically offer cash refunds. On an individual basis, we may offer up to a 30-day guarantee on some items but will usually offer store credit as part of the refund. Please inquire on individual items as our main goal is customer satisfaction.
- What payment methods do you accept?
We prefer Cash but we also accept MasterCard, Visa, American Express, Discover, Paypal, Money Orders (if we can verify origin), personal checks (no starter checks) and established business checks (our discretion).
- When will my order ship?
A normal order will typically be shipped through the USPS within one business day from the date you placed the order. Heavy & bulky orders are typically shipped through UPS and can take a little longer to initiate shipment. Transit time will vary, depending on the shipping method, destination, or other method of shipment used. We do pride ourselves on our quick shipping turnaround.
- What are your hours of operation?
Monday to Friday: 9:00am to 6:00 PM
Saturday: 9:00 to 4:00 PM
- What is a Trading Center?
Our Trading Center is designed to offer you a quick & easy way to Buy, Sell or Trade your item. You can negotiate and receive value for any item through selling, trading or pawning your item(s). Some customers are only looking to liquidate an item for fast Cash, but sometimes in lieu of cash they will trade (partially or item for item) for another item of value at our store. We can also offer cash plus your item, although some customers prefer 'Store Credit' to use for a bargain item at a later date. The Store Credit Gift Cards you receive never expire per NH state law.
- What is a pawn?
A pawn is essentially a collateral loan, just like most banks & credit union's offer. However, with a pawn Fast Cash will actually hold & store your item versus putting a lien on an item that you can still use. We hold the collateral in our possession until you redeem your item or until you default, for failure to pay according to your individual pawned item. The value of your pawn is a large determination in how much you can borrow against it, although in some cases, we look at your pawn history as well. Because we are a Trading Center we also offer you the ability to sell or trade your item of value, but these are not considered pawns.
- Who controls the rate of interest on pawn loans?
During the middle ages, laws enacted by the Church prohibited the charging of interest on loans, which limited pawn broking to people who had religious beliefs outside of the Church. As time progressed and out of economic necessity, due to many issues within the banking system, Pawn shops began to grow in popularity. Today in the United States each state (and in some cases municipalities) regulate the Pawn Industry. Currently, in the State of New Hampshire there are no laws enacted to place a limit on the interest rate that can be charged. In summary, this mean every Pawn shop may offer a different rate in NH and it is up to the customer's due diligence to find the best rate available. Remember this state has the motto 'Live Free or Die' and please ask about our tiered pawn rates.
- What can be pawned?
Just about anything of value which is legal can be pawned, but the final decision on what is acceptable for pawn loans varies from shop-to-shop. Our motto has always been we take anything but 'Food, Clothes & Live Animals' but we tend to shy away from large, heavy items like refrigerators & washing machines. Each time a pawnbroker loans on an item, he knows that someday it could be on his shelf for sale, and we tailor our lending activities to past experiences with certain items. The most common items include tools, electronics, computers, coins and jewelry. However, on occasion we have used automobiles, trucks, mobile homes, backhoes, as collateral for loans. The best items are those that have value today yet will keep their value over time. Gold, diamonds and tools are good examples of items that keep their value. Conversely, laptop computers that depreciate quickly over time will receive less on the loans. Since Fast Cash Trading Center has a diverse customer base, we never really know what you have to offer but we are always glad to look at what you have. One thing is certain; there are some amazing deals and opportunities.
- Are pawn shops safe to buy from?
Our Pawn Shop has been an established business in Tilton for over a quarter century and under the current ownership since 2005. Our Pawn Shop is not a here today and gone tomorrow place like the flea market, auction sale, garage sale, or the guy selling out of his van on the side of the road. Today’s pawnbroker knows his business and his business is only as good as his reputation. We have tried to be fair over the years but at the same time trying to ensure there is enough profits to remain in business. Current ownership has proven that we are not only a safe business to buy from, but we are also very cognizant about the possibility of items having been procured illegally. We have always worked very closely to ensure our items are legally obtained and give a list of every item purchased or pawned to Tilton PD every week in order to update the New England State Police Network for lost or stolen items.
- How does a pawn work at our store?
The best way to explain this is by offering an example of a pawned item. Rupert has to make a truck payment this Friday or he’s in danger of having his vehicle repossessed by the lien holder. His next paycheck is two weeks away and traditional banks would not consider loaning him the $200 he needs to make his truck payment, which happens to be necessary for him to make his living. Rupert opens an old box that has been sitting in his room for years. Inside he removes his high school ring, two gold chains and a single diamond earring he once wore as a kid and takes them to Fast Cash in Tilton, NH. After weighing the rings & chains and inspecting the diamond, we offer Rupert $250.00 in pawn. Rupert says he only needs $200 and doesn't want to borrow more than he needs as it will make it easier to redeem his items when he get paid. Rupert signs the pawn contract which ensures him, that only he can redeem his item(s) if he stays current on his monthly payment until he has the ability to redeem it. Rupert receives $200 in cash and now has four options for his collateral loan:
1. He can pay interest of $40 on his items each month to keep the pawn current; or,
2. He can pay off the loan including interest and redeem his goods (this happens more than 70% of the time); or,
3. He can decide to forfeit the goods and never pay back the loan. (The pawnshop now owns the items outright but there are no hard feelings or negative credit report as we have your collateral in hand to remunerate our pawn value.)
4. He can sign his copy of the pawn contract (it is a negotiable instrument) and as long as the signatures match up with the contract on file AND the pawn is still current the holder of the contract can redeem for the amount owed.
- Can I sell items directly to a pawnshop?
Anything of value which is legal can be sold directly to a pawnshop, so your job is to decide on which pawnbroker will give you the fairest value. The question is: if you can sell it for so much more on eBay, why would someone need to sell the item to a pawnshop at a much lower price? The answer is easy: FAST CASH. If you really need the money now, the pawnshop represents instant gratification and they will sell the item at their store or list it on eBay themselves.
- How much money can you get for selling or pawning items?
This is an elaborate dance played out daily in pawn shops across America and especially right here in Tilton NH. If a pawnbroker offers too little money for merchandise, customers will go elsewhere to sell or pawn their goods. If a pawnbroker offers too much money in an attempt to maximize interest charged on loans, then more customers will default on their pawns and the pawnbroker will be left with a lot of merchandise he paid too much for and can’t sell for a profit. The balance is somewhere in the middle: paying enough to entice customers to utilize his services, but not paying so much that the pawn shop owner ends up with too much inventory that he can’t move. Now, the truth of the matter is you are only likely to receive about 20-50% of the estimated amount the item might sell for in the pawnshop. Remember, you are now selling a product (typically pre-owned) wholesale where you initially purchased it new at a retail price.
- Who can pawn or sell an item?
A pawn loan is a binding contract and, as such, may only be entered into by a person who has attained the age of maturity. Here at Fast Cash, our policy is the person must have reached his 18th birthday to procure a pawn. On occasion, we do buy items from customers under the age of 18 but it must be with their guardian's (typically a parent) consent. This is up to the discretion of the employee(s).
- How do I know the item is real?
In today’s society, the consumer & businesses alike are becoming more and more aware of fraud and are glad you asked. Virtually all pawns shops can test gold, silver & platinum using acid assay tests to determine their fineness of the precious metal. Our pawn shop is one of them and we also have devices to test diamonds cubic zirconia and moissanite. We currently have a certified GIA graduate on staff and have the reputation of paying more for diamonds than anyone in the area. We also offer our opinion and knowledge on other gemstones, but we do not currently have a certified Gemologist on staff.
- Who regulates the pawn industry?
The pawn industry is one of the most regulated industries in the country due to many fly by night pawn shops who were not legitimate to begin with and gave the pawn industry a bad reputation in past years. Fast Cash Trading Center is regulated by both the Town of Tilton and New Hampshire State Laws, ordinances, etc.. Each jurisdiction has its own set of guidelines which must also be adhered to. There are also some Federal rules, laws, etc. that must be followed in order to operate this business, but local rule is our main overseer.
- Who uses the pawn industry?
A wide variety of people use pawn shops not only to borrow money, but also to buy quality new & used items at lower prices than they can get anywhere else. The pawn industry serves people from all walks of life and is a must visit on a regular basis by many bargain hunters and resellers. We are happy to welcome all new, current and past customers to view our ever changing inventory on a regular basis.
- How fast can you get a pawn?
Unlike a traditional bank loan, at a pawn shop there’s is no need for a credit check because we are giving you cash in exchange for your collateral. The paperwork process is fairly quick, usually less than five minutes. That's why we are FAST CASH!
- Can you pawn firearms?
Although you can pawn virtually anything in a pawn shop, Federal laws require an FFL (Federal Firearms License) to do such. Here at Fast Cash we have never had enough demand to outweigh the hassle and scrutiny this would create. However, antique firearms (usually manufactured before WW1) are available to pawn or sell.
- Can you purchase things on layaway from a pawnshop?
We absolutely encourage layaways, however we limit the time you have to purchase them in and we encourage a 50% down payment (it's somewhat negotiable though). We tend to keep it to a term of less than 90 days for final pickup or the item will be placed back on the floor.
- How do people get their pawned goods back?
Remember, when you pawn something, be it a watch, ring tool, etc. it is used as collateral to make sure we receive our money back. In all cases, the item used in the pawn does not become the property of the pawnshop until the terms of the pawn contract are defaulted on. It remains the property of the customer and can be picked up when the customer pays off the loan and any interest due.
- What happens to items once they are “in pawn”?
Pawn shops store all collateral in a safe secured storage facility. Once an item is pawned, it is logged into a computer database and tagged. Next, the item is placed in a holding unit ranging from our shelves, safe, garage, fenced in area for as long as the pawn is active. On occasion, we have stored vehicles and other large items off site and we have access to the same if needed. All items basically just stay in the same location until they are redeemed. Once the pawn is paid off, the item is pulled from its location and given back to the customer. When the pawn has defaulted the collateral is 'Pulled' and prepared to resell either in-house or through a third party.
Here is an interesting pawn fable on storage of a pawn: a man once pawned his $100,000 car in New York City and prepaid the interest of $200 for two months. The man asked for the minimal loan the pawnshop would accept for his car. Not quite sure if the man was sane, the pawnbroker gave him a loan for $500 in cash for the car & title and the man went off without a care. Two months later the man returned and paid off the small loan receiving his car & title back. The pawnbroker asked the man if he was a little crazy for pawning the car. The man replied “I just parked my car in New York City in a bonded holding space for two months while I was out of the country for only $200. You tell me if you think I’m crazy.
- How long does Fast Cash hold a pawned item before it sells it?
Our pawn shop has to hold your item as long as the pawn is active, which means as long as the interest on the pawn is current. Once one monthly payment has been made and not redeemed, we typically hold the item beyond the contractual time as we would rather have the payment versus selling the collateral. When the owner of Fast Cash considers a pawn is in default with very little hope of future payments or redemption, the item is cleaned, tested and priced and put out for other customers to purchase.