SERVICES: PAWNING:

How pawns work:
Pawnshops offer loans based against the value of collateral instead of credit history or employment status. This makes us very open-ended lenders as nearly anyone with an item of value is qualified to borrow! It's kind of like taking out a mortgage but instead of using your house to secure the loan you could use jewellery, a musical instrument or any of a variety of items.

How much can I get:
Our loans are based on the collateral at hand. Unlike a bank or payday loan company who judge you based on your income, our evaluation is purely based on the merchandise. We lend a percentage based upon the current resale value of an item.

There are a variety of things you can do to achieve maximum value for your merchandise: clean the item, make sure you have all necessary attachments and accessories, bring any substantiating documentation such as receipts or appraisals etc.

We will give you the greatest pawn amount possible working with the following conditions:

Condition of the item:
Is the item clean? Does it have all of the necessary cables, attachments, controls, etc? Has the item been abused or seen heavy use – scratches and damage affect how much we can give.

Age of the item:
Is it still desirable or has a new product made it obsolete or decreased it’s value?
For example: computer systems out-date very quickly, a product that was worth $500 3 years ago may be practically worthless because no-one will purchase an outdated platform.

Are there outside issues effecting the market value of the item?
Such things may include ‘hookup fee’s for cellular phones, account transfer fees, programming charges for VHF radios. This also includes any possible repair or appraisal costs. These issues reduce the possible resale value of an item and as such lower the possible loan amount.

Can I have more than 1 pawn?
Of course, we'd be happy to help you with your additional financing needs.

What do I need to qualify?
It's very simple – you need to be 19+ years old, have a piece of government issue photo identification (current, non-expired and original – no photocopies) and an item of value. There's no credit checks, no pre-qualification and no membership fees. Unlike banks, we want your business.

What kinds of items do you accept as collateral?
All items must be in good, clean, working condition. All serial numbers and identifying decals must be present and unaltered. We reserve the right to limit or refuse items at our discretion.

Jewelry:
All estate jewelry: value based on gold/platinum weight, and the type,size, quality, and quantity of any diamonds in the item.
Scrap gold from broken jewelry.
Wristwatches from prestige manufacturers including: Omega, Tag Heuer, Breitling, etc. We do not accept digital watches.
Gold and silver native carved jewelry

VideoGame items:
Most major consoles including Xbox/Xbox360, PS2/PS3, Gamecube, PSP, NintendoDS Wii etc.
Video game titles for almost any format – condition will factor into price.
Game system accessories – controllers, remotes, expansion packs, etc.

Electronics:
(newer models, within last 7-10 years at maximum)
Televisions: Flat CRT, LCD, Plasma, Projection systems etc.
Blu-ray & DVD players, combinations players from quality brands.
Home stereo equipment including amplifiers, receivers, some speakers etc.
Bookshelf/Mini stereos
Cordless phones (minimum 2.4ghz)
iPods, MP3 players, Computers, laptops, LCD monitors depending on age and speed.

Musical instruments:
Most major instruments including:
Flutes, clarinets, guitars, keyboards, violins etc.
Instruments must include all accessories and be in good working condition.
PA speaker cabinets
Instrument effects boards/pedals
Amplification/heads

Photographic equipment: (No film cameras, digital only)
Digital cameras (SLR & compact)
Newer Camcorders (DVD, Hi8, MiniDv, Hard drive)
Photography equipment including Tripods, flashes, bags, lenses, etc.

Power Tools
Must be from major manufacturers including Makita, Dewalt, Porter Cable, Craftsman, Hitachi, Mastercraft etc. Cordless equipment must be 14.4V or greater and include chargers.

Hand tools
Quality tools from Mastercraft, Craftsman, SnapOn, Mac, SK, Bluepoint, Lee Valley etc.

Misc
Blu-Ray & DVD movies – major titles only please, no valuebrand discs. No scratches in original case.
-we do not accept burnt, pirate or bootleg discs.
Microwaves & Sewing machines - clean new models.

How long do I have:
Our pawns term is for 31 days (2 full pay periods). We designed them to bridge 2 full pay periods so our clients can repay without straining their finances.

What if I need more time?
If you need more time you can extend the due date by paying the monthly service charge listed on your ticket. Unlike many payday loan companies, Premier has no hidden 'late' or 'penalty' fees. Nor do we charge revolving or compounding rates for extension – it's the same simple fee declared in advance for as many months as you need.

What if I can't pay it off?
We offer a variety of services to suit your needs. You can extend the duration of your pawn for another month by paying the interest and charges outlined in your contract. There are no additional penalty fees, no refinancing fees and no compounding charges. The only costs are those already outlined to you in your contract.

Is there a grace period?
Yes. We understand that sometimes life gets in the way and you need a bit of time. All of our pawns have a 14 day grace period from the due date. Overdue days are billed at regular rate as well – so there's no penalty or compounding charges!

We also offer partial repayments allowing you to extend your pawn loan while reducing the outstanding balance. This makes it easier to redeem the following month. You can also choose to forfeit your collateral – this repays the loan fully without any additional penalty to you.

How much does it cost?
Premier has the lowest pawn rate in Kelowna, as well as the most generous terms.  We are often half the price of comparable payday loans.  Contact us for details.

Our rates are all inclusive with no hidden fees. Compared against banks which require you to pay $5+ monthly to have an account as well as upfront loan processing fees the costs become quite reasonable.

Due to our already aggressive pricing we cannot pro-rate our cost structure for early redemption.

You said I could get more for my item but I didn't need it at the time. Now I do – can I get a top up?

Of course. Because pawns are based on the value of the merchandise presented we're happy to top you up to the maximum at any time during the duration of your pawn. However, once an item is due (or past due) we are no longer able to do any increases.

Do you issue reminder phonecalls / letters?
Not at this time. In order to keep our rates as low as possible we trust that each client is capable of marking their due dates on their calendars. Each client receives a full copy of the contract with all due dates and information listed on it.

Can I have someone else redeem my pawn?
For security and safety reasons most pawn contracts can be redeemed by the original pawner only. This is done to ensure that no-one else can take your goods without your consent. We do have special procedures in place to allow you to authorize someone else to redeem your goods on a case-by-case basis – please inquire if you need details.

I lost my ticket – what do I do?
In most cases this is not a problem – we do not charge any kind of 'lost' ticket fee. However, if you have authorized someone to redeem your goods using only your pawn ticket you should contact us immediately to prevent unauthorized redemption.

Will my items be safe?
We take security and safety very seriously. All of our owners, staff and management have had criminal background checks done. We are also carefully monitored and regulated by the RCMP and City of Kelowna bylaw services.

Premier utilizes state-of-the-art security to protect our (and your) valuables. These include but are not limited to high-resolution digital video surveillance, alarm systems, and bank-level vault storage. We are the only alternative financial provider in the interior of BC to store jewellery in an on-site bank vault.

Can I get information about my pawn over the telephone?
In most cases the information requested is available on the slip provided at the time of the pawn. For the sake of client security we would need to confirm your identity before releasing any information over the telephone. Kindly have your driver's license ready.

What services are available to help me pay out my pawn?
As a responsible lender we offer the following services to help reduce your debt burden:

1. Principle reductions: When renewing a pawn for more time you can elect to pay down the pawn balance to reduce the final pickup cost next month. This reduces not only the amount borrowed but the interest and charges as well.

2. Partial payments: To help ensure financial responsibility you can partially pay your pawn at any time during the duration. This helps avoid the temptation to 'spend it' when you have it.

3. Purchase: We buy a great variety of merchandise. You can sell us unwanted merchandise to help redeem items in pawn.