If you are in need of a pawn loan and have been wondering if a firearm is something you can pawn, we’re here to help explain not only that you can, in fact, pawn your firearm, but also what to expect from the process in our area, including what to bring along with you when you take in your firearm for valuation.
Can I Pawn my Firearm in California?
Pawn shops must be federally licensed to offer pawn loans for firearms. While there are not too many restrictions on the type of firearm that a pawn shop will deal with, there are a few guidelines to follow when bringing your firearm in as collateral.
- Call ahead to be sure that the pawn shop deals with firearms.
- Bring your firearm to the pawn shop in its locked case, unloaded along with any accessories you have for the gun.
- You must provide a state-issued photo ID and be over 18 years of age.
- Be prepared to complete a background check at the shop before pawning the firearm OR before having the firearm returned to you after fulfillment of the loan agreement. This step is dependent on your pawn shop and may or may not be required.
There are no heavy restrictions on the types of firearms that qualify for pawn loans other than, of course, the firearm being street legal. Below are the 3 most common categories of firearms considered for pawn loans.
- Mechanically functioning quality handguns or rifles will typically be considered as collateral for a pawn loan.
- If your firearm is brand new or “like new”, it will likely be considered and its collateral value will increase.
- Antique firearms are especially popular, specifically rifles from the Civil War. If you have an antique firearm, your local pawn shop will follow their standard process for guaranteeing the authenticity of the piece before making an offer.
As with any pawn loan, expect the offer on your firearm to be 30-60% of the current market value. If you decide to accept the loan offer, make sure you fully understand the parameters of the loan (i.e. loan term, payments, etc.).
Please be sure to use the best firearms handling standards, and you’ll be all set.
Have a question about pawning your firearm or want to stop in with yours? Here’s all our contact information for you.