Do most people lose their property left with Kings to secure their loans?
Actually, no. More than 97% of our customers pay off their loans, and retrieve their merchandise. We take exceptional care & pride to make sure that we return your items in the same condition that we received them so you can rest assured your possessions are in safe hands.
What kind of personal property does Kings accept as collateral for a loan?
We accept a wide range of jewelry, with an emphasis on items containing gold, platinum, diamonds, precious gems, and a wide range of luxury/designer watches.
Does Kings accept non-jewelry items?
Yes, King’s handles several different types of loan collateral. Please give us a call at 213-383-5555 and our staff will be glad to assist you. If you give us specifics on your particular merchandise we can tell you if we can accept it as collateral and if so how much. If you have any other questions please do not hesitate to call one of our helpful loan associates.
Do you accept firearms as collateral for a loan?
No, we do not.
How do you determine the value of my item(s)?
We base the value of the item on current market value, its current condition, the type of precious metal, diamonds, gemstones, and brand. During the evaluation, we also look at other factors to help you get the highest loan possible such as certification of the stone by a reputable lab, and/or if you have the original box and accompanying paperwork for your Rolex. Also a consideration for us is resell value of the item in case of a loan default.
Can you let me know how much I can get on my item(s) without me coming into the store?
You are more than welcome to call and see if we can accept the kind of item(s) you’re willing to bring in as collateral for a loan. We might also be able to provide you with a range of amounts we can extend in credit, or offer to pay you outright to purchase your item(s).
However, we need to personally inspect your property before we can give you an accurate representation of the potential loan or purchase value.
There are simply too many determining factors involved to make valuations over the phone a good option. But we do go out of our way to make your in-store experience with us as brief, easy, and enjoyable as possible.
What if I’m unable or unwilling to pay on my loan?
When the obligations under the loan contract are not met, and the due date passes without proper payment, the loan is foreclosed and the property securing the loan is forfeited. At that time, title and ownership of the collateral passes to King’s Jewelry and Loan. Unlike other forms of credit, if that were to occur, you have no further obligation/indebtedness to us. Since we do not report to any credit reporting agencies, your credit report and credit score are not affected. Better yet, you remain a valued client and we look forward to further opportunities to assist you.
I don’t want to lose my property but cannot pay off the loan at this
time. What are my options?
Life happens and we understand that due to unforeseen circumstances, clients may find that they are unable to pay off their loan in its entirety by the due date. However, that doesn’t necessarily mean that your loan will immediately and/or result in the loss of your property. You are allowed to pay only the accumulated interest and any accumulated fees on your loan, to extend the time until your loan is due and payable.
How do you determine if an item has been lost by someone or is stolen property?
We employ a number of confidential proprietary measures meant to reduce the chances that the property we’re receiving doesn’t actually belong to the person bringing it in. We also limit acceptable identification to certain unexpired government-issued types of identification containing photographs. We collect signatures, fingerprints, and video records of every person who sells or pawns any item at our location. More importantly, the law that every transaction is reported to local law enforcement agencies, along with a description of the item(s), the person that brought the item(s) into our business; as well as signatures, fingerprints, and so on.
We enjoy an excellent relationship with law enforcement and work closely with them to ensure full compliance with the law. We also consult former law enforcement personnel to assist in managing our ability to remain fully compliant with the law.
Does Kings also sell merchandise?
Absolutely. Kings has a large inventory of out-of-pawn jewelry, estate jewelry, new jewelry, and other items. Our wide selection of jewelry is priced to fit every budget. We generally sell our merchandise 15% to 50% below typical online and retail store prices. We stand behind our sales with a remarkable trade-in policy.
Do you offer other services?
We offer quality jewelry repair, sizing services, cleaning, polishing as well as appraisal services on gold and diamond jewelry. Please call us for details.
King’s Promotional and Reduced Rates vs. Competitor’s Standard Rates
| Loan Amount | 1st Month Promotional 1% Interest with Reduced fees | Initial Three Months Interest with Reduced Fees (Not on promotion) | VS. | Other Pawn Shops Charging State Approved Initial Maximum Three Months Interest and Fees |
| $5.00 – $15.00 | $1.00 | $3.00 | vs. | Up to $13.50 |
| $20.00 | $1.00 | $6.00 | vs. | Up to $16.50 |
| $25.00 | $2.00 | $7.00 | vs. | Up to $16.50 |
| $40.00 | $3.00 | $8.00 | vs. | Up to $16.50 |
| $50.00 | $3.00 | $11.00 | vs. | Up to $19.50 |
| $65.00 | $3.30 | $11.30 | vs. | Up to $19.50 |
| $75.00 | $3.50 | $14.50 | vs. | Up to $22.50 |
| $100.00 | $4.00 | $18.00 | vs. | Up to $25.50 |
| $125.00 | $4.75 | $18.50 | vs. | Up to $25.50 |
| $150.00 | $5.50 | $19.00 | vs. | Up to $25.50 |
| $175.00 | $6.25 | $20.25 | vs. | Up to $26.25 |
| $200.00 | $7.00 | $23.00 | vs. | Up to $28.50 |
| $225.00 | $7.75 | $25.75 | vs. | Up to $31.13 |
| $250.00 | $8.50 | $28.50 | vs. | Up to $34.25 |
| $275.00 | $9.25 | $31.25 | vs. | Up to $37.38 |
| $300.00 | $10.00 | $34.00 | vs. | Up to $40.50 |
| $325.00 | $10.75 | $36.75 | vs. | Up to $43.63 |
| $350.00 | $11.50 | $39.50 | vs. | Up to $46.75 |
| $375.00 | $12.25 | $42.25 | vs. | Up to $49.88 |
| $400.00 | $13.00 | $45.00 | vs. | Up to $53.00 |
| $425.00 | $13.75 | $47.75 | vs. | Up to $56.13 |
| $450.00 | $14.50 | $50.50 | vs. | Up to $59.25 |
| $475.00 | $15.25 | $53.25 | vs. | Up to $62.38 |
| $500.00 To $1,475.00 | 1% + Reduced Loan Writing and Storage fees | 3% a month with a minimum of three months equal to 9% and Reduced Loan Writing and Storage fees | vs. | 3% a month with a minimum of three months equal to 9% + Loan Writing fee of 3.5% with a $7.50 minimum and a maximum of $90.00 + $3.00 minimum Storage fee or higher ($3.00 for each additional cubic foot). |
| $1,500.00 To $2,475.00 | 1.5% + Reduced Loan Writing and Storage fees | 3% a month with a minimum of three months equal to 9% and Reduced Loan Writing and Storage fees | vs. | 3% a month with a minimum of three months equal to 9% + Loan Writing fee of 3.5% with a $7.50 minimum and a maximum of $90.00 + $3.00 minimum Storage fee or higher ($3.00 for each additional cubic foot). |
| $2,500.00+ | 1.5% + Loan Writing reduced to $30 and $1.00 Storage fees | 3% per month + Loan Writing fee reduced to $30 and $1.00 Storage fees | vs. | On average 4% to 10% per month. Loans $2500.00 and above are not regulated. All interest and fees can be negotiated. Generally, Our competition charges a maximum additional fee of $90.00 + $3.00 in addition to any interest charge. |