Simple Steps to Obtain a Jewelry Collateral Loan or Watch Loan
Like a pawnshop and other Loan and Jewelry businesses, we are highly regulated and licensed by the state and county government agencies. Unlike pawnshops and other Loan and Jewelry businesses, we offer a much lower rate of interest. We are very competitive in our pricing and will offer you top dollar. You will find we have a very friendly, safe and comfortable setting. When you step into our showroom you will see for yourself that we are like no other!
Elite Jewelry and Loan has been helping clients get fast cash for their fine jewelry pieces for over 50 years. Our highly educated diamond and gold experts will analyze your authentic gold, diamond or other fine jewelry item and give you the most money on loan for your high-value asset.
We also write collateral loans on other items of value. We also take watch loans on a variety of brands.
Collateral-based lending works like this: You as a client are given an appraisal amount for the value of any fine jewelry piece or other valuable item you bring in to have assessed.
One of our expert appraisers at Elite Jewelry and Loan will tell you what the loan value of your item is, and then share how much money we can loan you for your item. Loan appraisals on items are of no cost to you, and there is no obligation to enter into a loan contract for the loan amount you are approved for.
If you choose to accept the loan monies your jewelry or valuable item qualifies for, we’ll explain all terms and conditions of the loan directly to you both verbally and in our written loan contract. Once you’re comfortable with the terms and conditions of the loan, you can sign your contract and get your cash immediately.
After the principal balance and the interest due on your loan are paid in full, your merchandise is returned to you.
We offer a much lower interest rate on our loans than you will find at traditional pawn shops and will offer you top loan dollar for your item in a comfortable, safe, and secure setting.
When you bring your collateral item in to be appraised and offered a loan amount, we can also give you a buy-now price as well. In some situations, the price to sell an item on the spot will be higher than the price we can give you for taking out a loan on the item.
Having your valuable assessed for both loan and sell prices will give you more options to consider as you decide what the best avenue is for resolving your financial need.
Your collateral loans at Elite Jewelry and Loan can be a short as 1 month or as long as you choose provided that interest is paid every 90 days. After 90 days, if interest is paid, you loan gets extended another 90 days. Unlike other lending companies, at Elite Jewelry and Loan we do not have hidden fees. It is simply 10% interest each month. For example, if you have a loan for $100, the fees are only $10 per month. If you redeem your loan at the end of the 90-day period, it is only $130.
We lend money on a variety of different fine jewelry items, including:
Elite also offers watch loans for luxury timepieces. Bring your watch into our store to have it appraised.
There are other items we’ll accept as security for collateral loans as well, such as premium electronic items, authentic designer handbags, musical instruments, gold coins and bullion, and more.
Call our store for more information, or bring your valuables in today to determine the amount of money we can loan you on the items you own.
The amount of money you can borrow against your fine jewelry piece is based on a number of different factors regarding the item itself. It takes an educated jewelry expert to determine the true value of a gold item, fine diamond or other piece of jewelry.
All of our staff members are GIA certified. Certification by the Gemological Institute of America (GIA) is recognized world wide as the industry standard for objectively and accurately assessing the four “Cs” of a diamond: carat, color, clarity and cut.
The value of a diamond – or other fine jewelry piece – is based on the quality of the stone or metal within that piece. The GIA certification of our staff ensures that you will receive a fair loan amount for your item that reflects its accurate value.
Regarding non-jewelry items being used as collateral, our staff has been expert-trained in determining the value of all items we accept as collateral for loans. The extensive training of our staff means you can rest easy that the loan amount you’ll be given for your item will be satisfactorily equal to or above typical industry standards. This applies to watch loans, coins and bullions, and electronics.
If you are interested in getting a collateral-based loan with us, you’ll need to bring your collateral item and a government issued ID that contains a photo, such as a passport, a state-issued driver’s license or a state-issued identification card. If you have any paperwork for the item such as a certified appraisal or certificate of value, it is helpful to bring those items as well.
Note: you do need to be at least 18 years of age to get a collateral loan with Elite Jewelry and Loan. This is because the state of Arizona (and all other states) requires a person to be at least 18 years old to enter into a legal and binding contract.
Also, there are no limits on the number of collateral-based loans you can obtain through us. If you have a qualified collateral item that belongs to you, we can give you a loan on that item.
Elite Jewelry and Loan prides itself on making sure your jewelry collateral loan items are stored safely and securely. After you sign your loan contract and get your money, we store your fine jewelry item or other valuable to a private, secure location where it is monitored 24 hours a day, 7 days a week with both on and off-site security measures.
You can be confident your fine jewelry and other valuables that you use as collateral on your loan are safely protected while in our care.
In some cases, people encounter additional financial issues and it’s not possible for the client to pay back a collateral-based loan as promised. Things happen and circumstances change. We understand this and will work with you to find an agreeable resolution if repayment becomes difficult.
As an example, although our typical collateral-based loan offers a 90-day term, we can in many cases extend your loan term for an additional 90-day loan repayment period as long as you are able to pay the interest due on the loan at the end of the current 90-day period. Additional subsequent 90-day loan extensions are often available as well.
In other cases, you may wish to or need to relinquish your jewelry item or other valuables as payment in full for your loan balance. If this happens you will not be obligated to pay any additional fees for relinquishment of your item and we will never report non-payment of your loan or late payment information to a credit reporting agency.
No matter what the situation, our loan experts will work with you and do our very best to find a resolution that will bring you peace of mind.
If you are unable to come into our store to make a payment, you can provide a payment remotely through our Mobile Pawn app or through a secure text messaging system. Please call or text us at 480-699-6639 and we will assist you.
At Elite Jewelry and Loan we don’t check your credit, nor do we base your loan amount on your past credit history. Instead, we base your loan amount on the value of the asset you are submitting as collateral, and that items acts as security for your loan.
Thus, your credit history and credit score aren’t a factor because you are requesting a loan that is fully secured by an item of value and can be paid in full via relinquishment of that item.
This means that we can help you obtain a collateral loan no matter what your current or past credit history report looks like.
If your local bank is unwilling to lend you the money you need for your financial shortfall, you can rest assured that we can help by giving you a secured loan based on the value of your asset.
At Elite Jewelry and Loan, we work together with local law enforcement by providing them with a detailed description of all accepted merchandise with every loan or purchase transaction. We also provide them the identification information of the person selling the valuable or obtaining a loan using the valuable as collateral.
Law enforcement then cross-checks their database to ensure items we accept aren’t reported as stolen. Since we are required to hold all saleable items for twenty days as law enforcement checks their list of reported stolen items, you can be sure we won’t allow your stolen valuables to be traded in illegally – as long as you have reported the theft to local police so they can add your stolen valuables to their database.
We do everything in our power to ensure the items we buy and sell are obtained legally, partnering with local authorities to help them track down stolen items that may be brought in to our stores.
Getting a collateral-based loan with the caring, professional staff at Elite Jewelry and Loan is easy, confidential and will allow you to get the cash you need immediately. Bring your valuable item into one of our store locations today for more information or to get an appraisal amount for your collateral loan.
Coins and Bullion
*We accept any gold, silver, platinum ingots, and bars such as Credit Suisse, Handy and Harman, Engelhard, Johnson Matthey