pawn shop

Definition

A store which offers loans in exchange for personal property as equivalent collateral. If the loan is repaid in the contractually agreed time frame, the collateral may be repurchased at its initial price plus interest. If the loan cannot be repaid on time, the collateral may be liquidated by the pawn shop through a pawnbroker or secondhand dealer through sales to customers.

Use pawn shop in a sentence

  • If you need to get rid of something quick and have no where else to go you can take it to a pawn shop.

    Was this Helpful?   (25)   (0)
  • The pawn shop was freqented by the gentleman who would require small loans and then he would turn a profit consistently.

    Was this Helpful?   (25)   (0)
  • We went to the pawn shop because my friend wanted to sell his snare drum because he was raising money to go overseas.

    Was this Helpful?   (25)   (0)
Show more usage examples...

Related Videos




http://www.businessdictionary.com/definition/pawn-shop.html

Have a question about pawn shop? Ask for help in the
Community
Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z