Q: How does pawning work? What is a pawn?
A: A pawn is a cash loan using collateral instead of a credit rating as basis for your loan. Collateral could be almost anything of value depending on the specific Pawn shop. I.E. Gold and diamond jewelry, Musical Instruments or Tools. To be sure we will take your collateral on a loan make sure to call first so that we can at least give you an idea if we will take it or not.
Q: How long do I have to pick up my stuff?
A: You will find some variations in the amount of time and interest rate on loans depending on the Pawn Shop. Tomcats writes three month (90 day) loans with interest charged by the month. You may come in and pick up your item anytime during business hours after the loan is written. If you pick up within the first month you will only be charged one interest payment. If at the end of the initial 90 days you do not have enough cash to pay the loan in full you may pay the accrued interest and renew your 90 day loan.
Q: Will other people know about my loans? Will my personal information be used for any other reason?
A: We are bound by the same privacy laws as banks. We will not release your private information to anyone but you.
Q: Will my items be safe?
A: We have state of the art alarm systems and video surveillance. All jewelry is locked in our safe every night and all other items are kept in our secure storage areas that is accessible only to TomCats employees. In more than 30 years of business we have never had any case of collateral being stolen.
Q: Do you loan on guns?
A: Yes, we give loans on handguns, rifles, shotguns. We also buy, sell and trade the listed guns. We follow all federal firearms regulations. To pawn, sell, or trade a gun you need a government issued ID. To pick up a gun you need a Indiana government issued picture ID with a current address. You will then complete a 4473 Firearms Transaction Report and a government instant background check.
We also loan on black powder weapons which do not require background checks.
A: A pawn is a cash loan using collateral instead of a credit rating as basis for your loan. Collateral could be almost anything of value depending on the specific Pawn shop. I.E. Gold and diamond jewelry, Musical Instruments or Tools. To be sure we will take your collateral on a loan make sure to call first so that we can at least give you an idea if we will take it or not.
Q: How long do I have to pick up my stuff?
A: You will find some variations in the amount of time and interest rate on loans depending on the Pawn Shop. Tomcats writes three month (90 day) loans with interest charged by the month. You may come in and pick up your item anytime during business hours after the loan is written. If you pick up within the first month you will only be charged one interest payment. If at the end of the initial 90 days you do not have enough cash to pay the loan in full you may pay the accrued interest and renew your 90 day loan.
Q: Will other people know about my loans? Will my personal information be used for any other reason?
A: We are bound by the same privacy laws as banks. We will not release your private information to anyone but you.
Q: Will my items be safe?
A: We have state of the art alarm systems and video surveillance. All jewelry is locked in our safe every night and all other items are kept in our secure storage areas that is accessible only to TomCats employees. In more than 30 years of business we have never had any case of collateral being stolen.
Q: Do you loan on guns?
A: Yes, we give loans on handguns, rifles, shotguns. We also buy, sell and trade the listed guns. We follow all federal firearms regulations. To pawn, sell, or trade a gun you need a government issued ID. To pick up a gun you need a Indiana government issued picture ID with a current address. You will then complete a 4473 Firearms Transaction Report and a government instant background check.
We also loan on black powder weapons which do not require background checks.