NOTICE TO PUBLIC
For more than 19 years, our team at Perris & Hemet Pawn has been providing a place for Inland Empire residents to sell, pawn, and loan personal assets. We also offer a wide selection of discounted jewelry for your selection, if you are in the market to buy. Our company has earned a reputation for providing friendly, professional, and discreet service. We understand that our customers often come to us in a time of need and we strive to make you feel as comfortable and informed as possible during the pawn process. Whether you are looking for a no obligation offer to sell or loan, all of the transactions we make are quick and paid in cash.
We are prepared to help you: You should know bad credit does not affect the amount you will get in a loan or sale. Most of our transactions only take 5-10 minutes and we are happy to explain everything that is going on during this time. If you are interested in learning more about our pawn services, please give us a call now at 951-443-1716
The charges listed below are set in California law. They are for loans up to $2,499.
1. Loan Set-Up Fee?
It is permissible to charge a fee of 3%, with a $5 minimum, and a maximum of $30.
2. Minimum Repayment Time for Loans.
The minimum repayment time for loans is 3 months (90 days).
3. Interest Charges for the First 3 Months
The loan period is a minimum of 3 months. You may pay the loan back at any time. You may be charged a fixed interest rate for the first 3 months based upon how much you borrow. If you cannot repay the loan within 3 months, you will be charged additional interest for the 4th and subsequent months.
|Loan Amount||Total Interest Charge|
|$0 - $19.99||$3|
|$20 - $49.99||$6|
|$50 - $74.99||$9|
|$75 - $99.99||$12|
|$100 - $174||$15|
|$175 - $2.499.99||9% of the Loan Amount|
4. Monthly Interest for the 4th and Subsequent Months
After the initial 2 months, you will be charged additional interest? These charges can be up to $3 per month for any loan up to $100, 3% per month for loans that are $101 or more. You may be charged a full month’s interest for any portion of a month used, even if the loan is repaid prior to the end of the month. Your loan is due on the last day of the contract period. The loan, however, may be extended by mutual agreement between you and the pawnbroker. This agreement must be in writing. The interest rates on loans $2,500 or over are not regulated and can be negotiated.
5. Ten Day Notice
If your loan and interest go unpaid past the contract, you may be charged a $3 fee for the required 10-day notice. Within 30 days of the expiration of your loan, the pawnbroker will issue you this notice. If you do not pay the loan, interest, and charges due as shown on the contract within the 10-day period, all rights, interest, and title to the collateral that you have pledged will be transferred to the pawnbroker. The pawnbroker will then own the property and may elect to sell or otherwise dispose of the property. You may request the notice of termination of the loan period be sent by mail, electronically if the pawnbroker offers that service,? or by registered or certified mail, with return receipt requested, upon prepayment of these mailing costs.
6. Lost Ticket Fee?
The pawnbroker may charge you up to $10 if you lose your pawn ticket.
7. Redemption Receipt?
When the loan is paid in full, the pawnbroker shall provide the borrower with a receipt that correctly states all of the fees and charges paid by the borrower to the pawnbroker.
The “Annual Percentage Rate” (interest) includes all of the costs of the loan known to be applicable to the loan at the time the loan is written. You can use the APR to compare the costs of this loan with other types of loans. The formula for APR is The Interest + Fees and Charges?? Amount Loaned?? Number of Months of the Loan x 12 x 100.
Pawnbrokers do not have a legal obligation to insure your pawned items. Your item is not insured.
Perris & Hemet Pawn offer terms from up to 4 months. APR Interest Rates vary from 2% to 35.99%. Rates vary based on value of collateral as well as length of loan. All rates and terms of loans are strictly regulated by the State of California. Example: Amount Financed $2500. APR 24.12 percent. Length of loan 4 months. Total Interest charge $201.00 Total Interest and Principle is $2,701.