Is Pawning A Laptop Worth It?

Is Pawning A Laptop Worth It?

Pawning electronics is a great way to make some quick cash. But many people wonder how much they can expect when pawning a laptop. Like with any item, what a pawn shop is willing to loan is a percentage of what the resale value of the item would be. Basically, you will always get a smaller loan than what you would get if you outright sold the item to the pawn shop. This is because the item is being used as collateral for the loan. The main factors that determine the value of a laptop are the age, brand/model, and the condition. If you are interested in pawning any electronics in NYC, please give us a call for more information.

What Condition Is Your Laptop In?

First and foremost, what is the condition of your laptop? If the item you are trying to pawn is not in working order, most pawn shops will not take it. It is extremely important to make sure that your laptop is in good condition, and is clean. If you plan on pawning a laptop it is recommended to physically clean it first. Make sure all elements of the laptop are in good condition. If the keyboard, trackpad, or screen is damaged, it likely will not be taken by a pawn shop. 

How Old Is You Laptop?

Unfortunately, technology changes very quickly. While there is a huge market for used items, people still are more interested in getting newer models of phones, computers, and electronics. Since so many electronics are unable to keep up with modern updates and software, it is important that you have a newer item. Laptops and computers that are a decade old likely will not get you much and might not be accepted. Pawn shops only take items that have resale value in their area. 

What Brand Is Your Laptop?

Another thing to consider is the brand of your laptop. Different brands have different levels of demand and also influence the resale value. A newer Mac might fetch a higher price than a lesser known brand. 

How Much Will A Pawn Shop Give Me For A Laptop?

Based on the above factors there is a wide variety of prices you could get. You could get a few hundred dollars for a newer laptop, with a good processor, and that is in good condition. Or you might have a pawn shop tell you that they can only give you around $50 if the laptop is in poor condition, old, or not that powerful. The best thing to do is contact a pawn shop and get a quote for a loan. 

How Do I Protect My Data Before I Pawn A Laptop

One thing you should consider doing before you pawn your laptop is backup your data and reset the computer. An external hard drive can store all of the files, photos, and other user information from your laptop. After that, you should return the laptop to factory settings. Even though you will recover the laptop after you pay back your loan, it is always safest to remove any data or personal information, and some pawn shops even require it. 

Contact Paradise Pawnbrokers in The Bronx

If you are looking to sell electronics, buy used electronics, or trade electronics for a pawn loan in the NYC area, please give us a call. We would be happy to help you with the pawning process.