Payment Requirements

Sec. 21-42. Documents and copies provided by pawnbroker. Payment requirements. Limitations on check cashing by pawnbroker. (a) Each such pawnbroker shall, at the time of making any loan on a pawn or pledge of personal property or of purchasing such property on condition of selling the same back again at a stipulated price deliver to the person who deposits, pledges or sells such property a memorandum or note containing (1) the entry required to be made in such pawnbroker’s computerized record-keeping system by the provisions of section 21-41, (2) a copy of the statement signed by the person who deposits, pledges or sells such property that represents and warrants that such property is not stolen and has no liens or encumbrances against it, and that such person is the rightful owner of such property and has the right to enter into the transaction, and (3) a copy of the statement signed by the person who deposits, pledges or sells such property that states such person will indemnify and hold harmless such pawnbroker for any loss arising from the transaction because of a superior right of possession to the property residing with a third person. Each such pawnbroker may charge the person who deposits, pledges or sells such property a fee for such memorandum or note, the processing and recording of the transaction, the storage of the property, any insurance for the property and any appraisal of the property. Each such pawnbroker shall pay for any property received by deposit, pledge or purchase only by check, draft or money order and shall not pay cash for any such property except when the pawnbroker cashes a check, draft or money order for the person who is depositing, pledging or selling the property. When the pawnbroker cashes a check, draft or money order, such pawnbroker shall require proof of the identity of the person presenting the check, draft or money order in accordance with subsection (a) of section 21-41.

(b) Each check, draft or money order used to pay for property received by a pawnbroker shall contain the number or numbers associated with such property in the record-keeping system maintained in accordance with section 21-41. Whenever payment is made by check, the pawnbroker shall retain the electronic copy of such check or other record issued by the financial institution that processed such check, and such copy or record shall be subject to inspection pursuant to section 21-41 as part of such record-keeping system. No pawnbroker shall cash any check, draft or money order issued by such pawnbroker in an amount in excess of one thousand dollars and no person shall structure any transaction or transactions to avoid this prohibition. Any transaction or transactions between a pawnbroker and the same party within a twenty-four-hour period shall be aggregated and considered a single transaction for the purposes of this subsection.

(1949 Rev., S. 4666; P.A. 97-164, S. 4; P.A. 11-100, S. 5.)

Cited. 201 C. 89.

Learn more here, https://www.cga.ct.gov/current/pub/chap_409.htm

Rates of Interest

Sec. 21-44. Rates of interest. No pawnbroker or person who loans money on the deposit or pledge of personal property shall take or receive, for the use of money loaned on personal property, any more than the following rates: For the use of money amounting to fifteen dollars or less, five per cent per month or fraction thereof; for the use of money exceeding fifteen dollars in amount and not exceeding fifty dollars in amount, three per cent per month or fraction thereof; for the use of money exceeding fifty dollars in amount, two per cent per month or fraction thereof.

(1949 Rev., S. 4669; P.A. 97-164, S. 5.)

Pawnbroker does not violate section until he actually receives the unlawful interest. 63 C. 385. Discrimination in rate of interest allowed pawnbrokers is proper. 82 C. 234; 83 C. 1; 218 U.S. 5; Id., 563. Cited. 120 C. 664; 123 C. 95. Applies to repurchase transactions. 201 C. 89. Section governs rates of interest and not rates pawnbrokers may charge in connection with repurchase agreements; the latter rates are subject to limits imposed by Sec. 37-4; holding in 201 C. 89 legislatively overruled by enactment of P.A. 97-164. 313 C. 535.

To learn more visit, https://www.cga.ct.gov/current/pub/chap_409.htm

Technology Evolution

Everyday technology develops something new. Technology has been part of American history since the very beginning. Today people line up outside stores to get the latest version of some gadget. Here at Express Pawn we may not carry the iPhone 6 but we do have lots of technology to get excited about: discounted iPods, computer monitors and even vintage typewriters. Whether you want something from history or something more current day we got you covered.

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Jack and the Beanstalk: An Express Pawn Fairy Tale

This is Jack and his cow Sally. Jack needs a bit of money.jack1

Down in the village of West Haven there lies a place called Express Pawn.pawn

Jack: “Dear kind sir, I hear that this is a place where I can sell my gold and find great treasures.”

Sir: “You have heard right.”

Jack: “I would like to trade my cow Sally for those magic beans on the shelf.”

Sir: “Gladly, we have been in search of a friend for Monsieur Bacon. I believe Sally is worth that can of Magic beans. I will accept your deal!”

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The next morning, to no one’s surprise, a beanstalk had grown tall into the sky.

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Better than gold, better than cows; at the top of the stalk a golden chicken he found.

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From the top of the stalk Jack was heard to shout, “Thank you Express Pawn for the best deals around!”

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Jack is smiling ear to ear because he just got top dollar for his chicken at Express Pawn.

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Sally and Bacon say, “Come on down to Express Pawn and sell us your gold!”

Attention music lovers: do you want a piece of music history?

Pawn shops are great places to find old vinyls, music books and instruments. On unique occasions a pawn shop may become the temporary home of a rare music treasure like a vintage guitar or legendary recording contract signed by the artists themselves. You might find a record signed by Joni Mitchell or maybe a vintage limited edition Gibson guitar. Maybe you are a collector or maybe you are just a music nerd; either way, you will never know what musical treasure awaits until you start your hunt.

Click here to see some guitars we have in the shop; hurry before they are gone!

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How much is your change really worth?

Searching the couch cushions for loose change? That long-lost dime might be worth more than you think! We all know that the price value of a dime is 10 cents; but with the rising cost of silver, all dimes are worth at least $1.57! Silver is not the only thing that makes these coins valuable: rare dates, mint marks and design varieties can make dimes well worth over a hundred of dollars. In fact, a draped bust dime from the late 1790s to the early 1800s can be worth up to $400. Time to search through those old coins and see what you can find!

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Express Pawn, LLC Has Some Great Deals On Amplifiers and Guitars!

Rock and Roll Blow outCall Express Pawn, LLC today for great deals on Muscial Instruments, Tools, Jewelry and much more….

Express Pawn, LLC
961 1st Avenue
West Haven, CT 06516

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CT Gold Buyers Express Pawn LLC Will Pay Top Dollar For Your Gold Jewelry

Stop by and Sell your used and unwanted goods to Express Pawn, LLC, and we will offer you the most money possible! At Express Pawn, LLC, you do not need to worry about the safety and confidentiality of your property. We are a Better Business Bureau approved pawn shop and No sale is too small or too large for us to handle!

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