You can use a pawnbroker in one of two main ways. Either you leave an item of value with the pawnbroker as security for a loan, or you can sell the item instantly for some quick cash. This guide covers pawnbroker loans.
You can pawn anything of value that can be re-sold, but jewellery is most common. The pawnbroker will value your item to calculate how much money it can loan you. Typically, the interest you’ll pay will be much higher than on a personal loan from a high-street bank.
Because you leave an item of value with the pawnbroker as security, there’s a risk you might lose it if you can’t pay back your loan. It’s worth thinking about this before leaving any items that have sentimental value.