Home Pawn FAQs

What are the requirements to pawn an item?

Just take your pawn contract and an official form of identification. The original pledgor will be the only person allowed to redeem the items.

 

Answers to Frequently Asked Questions

How does the loan work?

A secure loan is the easiest and quickest option for obtaining a cash loan instantly. The amount of the loan depends on the value of the item handed over as a guarantee to Monte de Piedad ®. Each loan has a duration of five (5) months total, but the same loan can be renewed once all the accumulated interest fees have been paid. You can renew as many times as you need, and any time that you renew, your deadline will be extended for five additional months. You also have the option of releasing the items and keeping the amount of the loan.

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What can I pawn at Monte de Piedad ®?
Jewelry (in good or bad condition)
Coins
Watches
Diamonds
Laptops, Computers, Monitors
Digital Cameras, Video Cameras
Game Boxes (Playstation, Xbox, Nintendo)
Games and DVD Movies
Ipod, Itouch, MP3 Players
Sound Equipment

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How is my loan amount calculated?

The appraiser bases the loan amount on the item’s value and how much the company can sell the item for. The loan amount is a percentage of the actual value of the item. Monte de Piedad ® is known in California for the higher amount loans which it grants.

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How is the value of my gold jewelry determined, specifically?

We base our value on the weight and purity of the gold. An acid solution and a special stone are used to determine the gold’s purity (karats). Once this has been determined, the jewelry is weighed on a special scale authorized by the State of California.

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What can I do if I do not have enough money to liquidate my loan?

You can renew. When you renew, you only pay the interests which have accumulated and you will receive an additional deadline of five months. The annual interest rate and the amount of the loan will remain the same. You have the option to renew as many times as you need. You can also send someone else to renew for you, if you are not available.

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What are the requirements to pawn an item?

Just take your pawn contract and an official form of identification. The original pledgor will be the only person allowed to redeem the items.

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How much interest will I pay?

The State of California dictates how much can be charged in a secured loan. Monte de Piedad ® charges less than its competitors and offers a multitude of additional discounts. For example, for certain processing fees, Monte de Piedad ® discounts 60% and even up to 80% in other charges/fees. Click here to see the interest rate chart of the State of California.

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Stores

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Founded in 1980 in the city of San Ysidro, California, Monte de Piedad® is a family business whose purpose is to support the community with pledge loans. Follow us in Twitter, Facebook see photos of our stores in Flickr or watch our television comercials in Vimeo. For more information, please feel free to contact us, or visit any of our stores.