Gun pawning can bring in needed cash, and if you pay back the loan, your firearm will be returned to you. This is often an easy option when you encounter catastrophic car repairs or need to pay the rent. Guns sell well at pawn shops, and many are willing to offer a loan against firearms or buy them outright. If you are considering Kansas gun pawning, here are five things you should know before you proceed:
- Pawning vs. selling: If your financial difficulty is temporary, pawning is a good option. To pawn a gun, you take it to a pawn shop where we assess the value and offer a loan of that amount. If you can pay back the loan by the agreed-upon date, we give you the gun back. If you fail to pay, we sell the gun and the nonpayment does not register to your credit report. So, if you do not believe you will be able to pay back the loan, it is likely a better option to sell the gun.
- Work with reputable dealers: Pawning a gun is different from pawning other items. There are additional legal requirements, and only shops licensed to sell guns are allowed to offer pawn loans against them. Otherwise you risk either losing your firearm, not receiving full value or even facing criminal charges. Also, if you pawn a firearm, know that the information will be shared with local law enforcement. Pawning a gun is not the way to dispose of a weapon used in a crime, unless you wish to get caught!
- Stick to firearms: The previous popularity of paintball means people acquired everything they needed for the sport, only to lose interest. Within the last decade, paintball supply sales decreased from $300 million to $157 million. If you have paintball equipment, consider selling it rather than pawning it. There is not much value to paintball supplies, and they fall under many of the same regulations.
- Register the gun in your name: If you pawn a gun that is not registered in your name, it will be flagged as stolen. Before you pawn, make sure all the paperwork is in order and you will not face obstacles later. This is especially true if you inherited a gun or received one as a gift. There’s a good chance that it remains in the previous owner’s name, and your firearm may be presumed stolen. Always ask for the ownership papers when you receive a gun so you can update them.
- Be prepared: Before you take your gun to the shop, clean it thoroughly. Secure it in a locked case and practice best firearm handling standards. Bring any ownership papers or gun licenses. Finally, since not all shops accept guns, confirm that they do so before you show up.
Harrison Street Pawn offers Kansas gun pawning services at our shop in Olathe, KS. We specialize in valuing firearms, and also offer gun cleaning and repair. Visit us today to see how much your gun is worth.