Frequently Asked Questions

  • What is a pawn loan?

    A pawn loan allows you to immediately borrow money against your valuables without a credit check, and without having to sell your items. A pawn loan allows you to use the borrowed cash now, and repay the loan within 90-120 days, to get your item back. You can also extend the term of your loan without any penalty. There is no application process, and we do not report to credit agencies.

  • What can I pawn or sell?

    You can pawn or sell the following:

    • High end jewelry
    • Fine watches
    • Precious metals & coins
    • Loose diamonds & precious gemstones
    • High end DLSR cameras & equipment
    • Electronics
    • Brand name musical instruments
    • Certain collectibles & certified art
    • Luxury handbags
    • Industrial equipment
  • What is the minimum/maximum amount I can receive from UltraPawn?

    Our maximum transaction amount is $1 million. Our minimum transaction amount for overnight shipping is $1,500. Our minimum transaction amount for ground shipping is $250. Items valued between $500 and $1,500 are shipped 2nd day. We review each application individually, and each offer is determined on a case by case basis.

  • How is my pawn or buy offer determined?

    Your offer is based on your item’s resale value. Offers are determined in comparison to market pricing data, and by our certified team of appraisers. Our offers are the highest possible, and we guarantee our offers to meet or beat any local or online pawnbroker.

  • How much money will I get for my item?

    The amount we offer depends on your item. In all cases, we try to maximize the amount we offer, and guarantee to meet or beat any local or online pawnbroker.

  • What monthly interest rates and other fees will I be charged for my loan?

    The interest rate you will pay is determined by the value of your item and the loan amount. Generally, the higher the value of your item, the lower the rate will be. UltraPawn's average interest rate and fees range from 2-16% in total. Local pawn shops typically charge 15% to 25% per month.

  • How long do I have to pay off my loan?

    The minimum loan contract is for 30 days, and can be as long as you would like. UltraPawn’s average loan periods range from 90-180 days, with an option to extend with no penalty.

  • Do I have to make monthly payments?

    Yes. You are required to pay the monthly interest. The final balance is due at the end of the term.

  • Do I have to have a bank account to sell or sell my item?

    No! Unlike other online pawnbrokers, UltraPawn works to cater to your needs. We can send you funds either by check, or through a pre-paid debit card, which works like a normal credit card at stores and atm’s. Our goal is to get you the cash you need – whether or not you have a bank account.

  • Are there any extra charges I should expect when selling or pawning an item with UltraPawn?

    At UltraPawn, we are completely transparent and upfront with all costs, and disclose the full payments required on each loan contract. You will always know exactly how much is owed on your loan, and we never charge hidden fees.

  • What happens to my item if I decide not to pay back my loan?

    While the vast majority of pawn loans are redeemed, if you do not pay back your loan, the item used as collateral passes to UltraPawn, and you no longer are indebted to UltraPawn. We are always willing to work with you on a repayment plan so that you do not have to default.

  • Who provides shipping and insurance?

    UltraPawn provides free shipping from UPS and fully insures your valuables through Jewelers Mutual.

  • Will defaulting on a loan from UltraPawn affect my credit score?

    No. UltraPawn does not check your credit, or report to any credit agencies. If you do not pay back your loan, you only give up the item – no bad credit, no phone calls or collection letters!

  • What are acceptable payment methods?

    Unlike other online pawnbrokers, UltraPawn accepts a variety of payment forms: checks, cash, cashier’s checks, money orders, fund transfers, and so on. We strive to make things easy on you, and do not require you to have a bank account.

  • How does UltraPawn store my item?

    When we receive your item, it is bar-coded, entered into our system, and stored in our secure lock-up. Jewelry items are placed in UL TRTL-30 rated safes. Our secure facility employs audio/video surveillance, and 24 hour on-site and electronic security.