How a Local Pawn Shop in Tampa Is Making Ends Meet

More and more Americans are living paycheck to paycheck. Local pawn shop in Tampa cost of everyday goods is climbing, wages are stagnant and the affordable housing crisis looms. WUSF’s Mike Walsh is looking at a different way that people are making ends meet: Pawn shops around the country are seeing the kind of business they haven’t seen since the financial crisis.

It’s 2 p.m. on a Thursday at A-Universal Pawn shop in Egypt Lake-Leto. 80s pop music plays softly in the background as Rick Evans and his mother sit in matching gray recliners, waiting for a wave of customers.

A Complete Guide to USA Pawn Services

A pawnshop is a place where people leave items they no longer need for cash, oftentimes getting back their item in 30 to 60 days by returning the item and paying a loan fee and interest (depending on state law). The pawnbroker must keep the item in safe custody during this period, and may charge storage fees or insurance. Pawnshops also make money from selling items to the public, ranging from jewelry to power tools and electronics.

Many local pawn shops provide valuable services for the community, offering a convenient and reliable alternative to traditional banking. But the pawnshop model is not without its drawbacks, including the possibility that repeated borrowing and redemption of the same items can lead to deeper financial problems. If you’re considering a pawnshop, it’s important to use this calculator to compare the annual percentage rate (APR) with other available options to understand the full cost of what you’re borrowing.