What are pawnshops?Pawn shops are places where you can get a short-term loan.
Most people pay off the loan and get the collateral back, but if they can't, the pawnshop can sell the items to recoup the investment.The oldest pawn shops are the Nacional Monte de Piedad, the Where Foundation, and Montepío Luz Saviñón, but there are many others, national or foreign, that operate differently and under different procedures than those of these institutions.What is the pawn procedure?1.
A qualified executive will review your garment for free.3.
With this, the amount of loans that can be obtained for the pledge is established.
The term of the contract varies between three to five nominal months.The pledge loan contract works as an adhesion contract through which the pawn shop and the person applying for the loan are subject to rights and obligations.
These agreements should ideally be registered with the Federal Consumer Protection Agency (Profeco).Therefore, it is highly recommended that the user verify that the contract used by the pawn shop with which he decides to apply for the loan is duly registered.The client, to recover the pledge, must carry out the payment agreed on the pawn slip,which includes the loan plus the interest generated and the corresponding to storage and insurance costs.