105 PAWN
936.588.0808
16283 Hwy 105 West ~ Montgomery, TX 77356
Open: Mon-Fri 9:00 - 6:00 Sat 9:00-5:00 Closed Sunday
We provide instant cash loans on
merchandise with no credit check!
COLLATERAL
LOANS
A normal transaction takes less than 15 minutes and does not require a credit check. All that you need to bring with you is a valid TEXAS Driver's License and an item of value and we can have you on your way in minutes.
No Credit Checks!
Other lending institutions check your credit history – 105 Pawn does not. We lend cash instantly on your collateral items.
No Impact To Your Credit Report!
Unlike payday loans, if you obtain a collateral loan on your merchandise from 105 Pawn, your credit report is not affected. While our pawn shop is regulated by the Texas Office of Consumer Credit just like other small loan companies, your credit report will not be impacted even if you decide not to reclaim your items.
Loans Up To $1,200!
Based on the secondary market (pre-owned or used) value of your collateral merchandise, 105 Pawn can provide you with an instant cash loan up to $1,200.
Lending Services
When it comes to our business, we offer our customers an ongoing resource for cash. Our company offers a quick and easy way to borrow money. The following is a description of the lending services we offer our customers.
What Is A Pawn Loan
A Pawn Loan is a short term cash loan made on the value of your collateral item. When a customer receives a pawn loan, they leave an item of agreed upon value, as collateral in exchange for their short term cash loan. It is a quick and easy way to receive needed extra cash.
105 Pawn accepts a variety of items for pawn loans, including gold and diamond jewelry, guns, electronics, coins, musical instruments and tools just to name a few.
How To Get A Pawn Loan
When needing a loan, take the item of collateral to 105 Pawn. Our Pawnbroker will ask for an estimate of how much is needed towards the item of collateral. The staff will evaluate the item and offer an amount that we are willing to loan and/or an amount for which we are willing to purchase the item.
What Happens To My Collateral Item
Your collateral item remains stored in our store until the original loan amount plus the interest is repaid, at which time the item is returned.
How Long Is The Pawn Loan
Your loan is a 30 day loan with a 30 day grace period. What this means is that you have a total of 60 days to get your collateral item back before it goes into a default status.
For each 30 days used the interest is due on the loan. So if you want to pick up your collateral item on the due date, which is the date of the first 30 days, then the loan amount plus interest on the 30 days used will need to be paid. Likewise, if you want to pick up your collateral item on the grace date, which is the date of 60 days, then the loan amount plus interest on the 60 days used will need to be paid.
If you cannot pay back your loan in full, including any applicable charges, we also offer extensions/renewals to give you extra time that you need to pay off your loan.
What Is An Extension / Renewal
If you are unable to pay back your loan in full on its due date or on the grace date, you may choose to get an extension/renewal on your loan giving you the extra time you need.
An Extension/Renewal is when you pay the interest due on your loan, extending the loan. After paying the interest due your loan is Extended/Renwed for another 30 or 60 days - depending on which you paid. You may extend any loan you have with us for as long as you like and we will continue to hold your collateral as long as the loan is being Extened/Renewed.
Remember that interest paid towards an Extension/Renewal is applied towards interest of days 'already used' and does not apply towards the principal amount of the loan.
Will I Lose My Merchandise?
The majority of our customers (80% +) choose to repay their pawn loans and pick up their merchandise. 105 Pawn securely stores all collateral merchandise for the duration of the loan contract. But, if a customer chooses not to repay their loan, then they are surrendering their merchandise/collateral and the loan is forfeited. When the loan contract expires and the customer has not exteded/renewed their loan, then the collateral items will be placed into our inventory and put out for sale.