This article will answer extensively the question “Can You Pawn a laptop?”
Most people who find themselves in need of emergency cash but do not want to lose their valuable or invaluable items that may have sentimental value to them find themselves wondering if they can pawn these things.
To some people those items could include a laptop, to pay for a loan or a rather unexpected bill or possibly you are just in need of quick cash to sort something personal. Your laptop may be just that for you.
For purpose of clarity and confidence, statistics have shown that over 30 million Americans use pawn shops each year, and pawn shops collect all kinds of high-end items including laptops to get people a quick loan.
Like pawning electronics, many people are curious on how much they can expect if they pawned their laptop or if it can even be pawned in the first place.
Well, the simple answer to that is yes, you can pawn a laptop, as for the money you may receive, well that largely depends on a lot of factors, which we will be considering in this article.
Though as a general business term, a pawn shop is usually willing to loan a percentage of what the value of the item would be when resold.
This means that pawn shop loans are usually smaller than what you would get if you outright sold the item to either an interested buyer or the pawn shop.
This is usually due to the fact that the item being used as collateral for the loan, in this case a laptop is weighed on factors such as: the age, brand/model, and the condition.
What to Consider before you Pawn a laptop
An article that answers the question, Can You Pawn a laptop? will certainly be incomplete, without drawing up what you need to do before finally parting with your computer for a while.
Data Protection
First things first, before you take your laptop to any pawn shop, you need to ensure that all information on your laptop is securedly protected. Unlike jewels, artifacts etc.
Your laptop contains data, and information that may cost more than the laptop itself and these files, documents etc needs to be well-protected from any form of unauthorized acess.
Always ensure that you recover your operating system and remove all passwords, photos, and videos.
Then reset everything back to the original factory settings, which will make the computer act like it has never been in used and it’s just turned on for the first time.
Note: This step will get rid of all your files and all added programs but it’s the safest and most efficient way, which is why we emphasize that you ensure you retrieve and recover all your data.
We recommend you do this whether you plan to come back for the laptop or not, as you never can tell for sure what the future holds, and if you can’t come back for it, you don’t want someone getting a hold of all your important information.
Also, check and recheck that all your stored passwords are eliminated before you pawn your laptop.
Also Read: How to Connect Ubuntu laptop to TV Wirelessly
Clean Your Laptop
Just like you clean the internal drives, you need to do same to the external. Clean the physical frame of your laptop to make it look as good as possible.
Use damp soft clothes to achieve that – wipe down any marks, dust, and dents that may stick around edges etc. Clean the screen and mouse pad too but do not wear wet clothes.
To clean the keyboard, make use of a keyboard cleaner to ensure none of the keys are sticking and there is no buildup.
All these will help your laptop look best and may influence the amount it gets you at the pawn shop.
Your Laptop’s Condition
Another thing that is very important to consider when you want to pawn a laptop is – the condition of the laptop.
Is it in perfect state, are all the keys and parts working? Pawn shops will always take a close look at these before accepting them.
It is therefore extremely important to make sure that your laptop is in good condition. If there is anything that isn’t fully functional and you wish to pawn it.
Try to get it fixed by an expert or otherwise take notes of it and communicate it to the pawn shop attendant.
But if damage is sustained mostly to the keyboard, trackpad, or screen, it likely will not be taken by a pawn shop.
Your Laptop Age
Laptops are one of the devices that get outdated very easily, compared to jewelry.
Well, in an ever-dynamic technology and a huge market for used items, people still are more interested in getting the latest models of phones, computers, and electronics.
This means that newer model laptops and computers will usually get more market value than half a decade or a decade old laptop which will likely will not get you much or at worst case scenario may be accepted. Pawn shops typically take items that have resale value in their area.
What Brand Is Your Laptop?
While knowing the brand of your laptop is not as important as the age, it’s still important to consider. This is because different brands have different levels of demand and also usually influence the resale value. A newer Hp may get you better paid than a lesser-known brand.
How Much Will a Pawn Shop Give Me for a Laptop?
Finally, the big question, how much can I get from a pawnshop for my laptop? Based on the factors outlined above, it’s clear that there is no one price for all, and the prices you could get will vary.
But you may likely get a few hundred dollars for a newer laptop, with a good processor, and that is still in good condition.
Or a pawn shop may go lower to about $50 if the laptop has some fault or the model is older, or has a less powerful processor etc.
We recommend that before you pawn a laptop, you should contact a pawn shop and obtain a quote for a loan.
Pawning Versus Selling
There is a huge difference between pawning a laptop and selling it.
If you pawn a laptop, you are giving the pawn shop your laptop as collateral and you can get it back when you have paid the loan by the stipulated date for the amount of the laptop appraisal, else the pawnshop retains it.
This loan usually comes with an interest by a specified date or the pawn shop keeps your laptop.
Selling your laptop is exactly what it sounds like. When selling to a pawn shop, the pawn shop will appraise your laptop and you decide if you agree with the price. You can take that amount or you can try to negotiate.
Tips to Pawn a laptop Successfully
Be sure your laptop is fully charged so you can get your business done right away without hassles.
Also, do not forget your charger-it may affect your success on pawning.
Conclusion
While this article elaborates on the curiosity ‘can you pawn a laptop ” and this is an alternative for some people.
Be very certain that is what you want to do, because there is a possibility that you may lose your laptop for life.
We believe these guidelines will help you reach the right decision and pawn a laptop better.
