What are Buyback loans?
You never know when there's going to be an unexpected red bill that needs paying urgently. Or perhaps a sudden car breakdown that requires instant cash. No matter what the emergency you can always bring an item of value to our pawnbroker shop in Milton Keynes for an instant cash buyback service.
How does a buyback work?
When you bring in an item of value, we assess the item and then we tell you what we can offer you for your item in immediate cash. The agreement gives you the option to repurchase your item or “buyback” your item within 28 days. If you need longer than this time then it can be arranged - you will just need to extend the ticket at the end of the first 28 days.
What are the charges for a buyback?
The typical example of a buyback would be a customer bringing in some gold that is valued at say £50. Then we would charge 25% of the amount we give, £12.50 in this case, as a charge for the service and the repayment amount to buyback the item would be £62.50.
Please remember that this is not your typical pawnbroker loan agreement. This is a sale option and repurchase agreement. However, it is almost the same, as you get the cash in the same way. This is also not intended as a long term loan service, it is for emergency loan purposes only.
What happens if I don’t collect my buyback?
If for any reason you decide that you do not want your item or you can’t afford to buyback the item then when the item option expires after the 28 day period, the item is sold in our shop or by auction.
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Please look here for more information regarding our pawnbrokers in Milton Keynes services.