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The unpredictable economics of pawn stores

The unpredictable economics of pawn stores

You’re straight straight down on fortune, your funds are operating low, and you’re in serious need of the few hundred bucks in cash — ASAP. The lender won’t allow you to, together with pay day loan place wishes a 400% yearly rate of interest.

You’re straight down on luck, your funds are operating low, and you’re in serious need of some hundred dollars in cash — ASAP. The lender won’t allow you to, therefore the pay day loan spot wishes a 400% yearly rate of interest. Anything you’ve got kept may be the gold pocket view your great-uncle Chester provided you.

Where do you turn? You check out the pawn store.

On a yearly basis, some 30m People in the us frequent the country’s 11.8k pawn stores within the hopes of securing that loan in return for security.

As you pawn store owner informs The Hustle, “everything which can be pawned will soon be pawned:” marriage rings, shotguns, traditional horse saddles, prosthetic limbs, and any computer imaginable. Leer más

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