We at Cash My Guns know that gunowners can sell, give away, consign or pawn their guns using a number of different means. Gunowners can engage in private party gun sales, surrender unwanted firearms to local law enforcement, sell guns to gun shops, engage in transactions through pawnshops and more. Many believe that pawnshops are the fastest method to get money for unwanted firearms, but is that really the case? In this article we describe how pawnshops operate in California, what the wait periods are like, the process to sell a gun to a pawnshop, things that can delay the process and alternatives to get cash for unwanted firearms. Show
How Do Pawn Shops Work?There are generally three ways to obtain money from a pawnshop: pawning, consignment and sales. Pawning a gun at a pawnshop means that you use your gun as collateral to obtain a loan from the pawnshop. If you fail to pay your loan back to the shop including interest, the shop gets to keep your gun. Consigning a gun to a pawnshop requires the original gun owner and the pawnshop to enter into a shared-profit agreement. The shop then retains the gun and attempts to sell it. If the gun sells, the shop and the original gun owner each get a cut of the profit. If the shop fails to sell the gun, the original gun owner gets the gun back. Selling a gun to a pawnshop is when the pawn shop gives the gunowner cash for ownership of the gun. Gunowners should expect to receive no more than 30% of what the pawnshop thinks they can sell the gun for. For example, market value for a gun might be $500. The pawnshop thinks they can sell the gun for $400, so they’ll offer you 30% of $400 which is $120. Pawnshops specialize in selling different items, so a pawn shop specializing in electronics can’t sell your gun for the same price as a pawnshop specializing in guns. If you do choose to conduct a gun transaction with a pawnshop, do the things on the following list first.
If you’re looking for cash quickly, there is an easy way to improve upon the 30% of perceived resale value. When you sell your gun to Cash My Guns, we pay our customers as much as 60% of the gun’s market value. California Wait Period to Purchase Pawn Shop GunsCalifornia law imposes a 10-day waiting period before a firearm can be released to a purchaser or transferee (Pen. Code, § § 26800-26850). The 10-day waiting period allows the California DOJ to, through a DROS, determine the purchaser’s eligibility to own/possess a gun. The DROS process will result in a status of Approved, Delayed, Undetermined, Rejected, or Denied.
What is a DROS application?
DROS applications receive one of the following responses from the California DOJ: delayed, undetermined, rejected or denied. Click here to learn more about what causes each response and what to do next. How Do Pawn Shops Avoid Purchasing Stolen Goods?According to the LA Times:
The system to “report transactions within 24 hours” is a reference to the California Pawn & Secondhand Dealer System, also known as CAPSS.
Instead of dealing with an intrusive fingerprinting system at your local pawnshop, why not sell your next gun at Cash My Guns? Our process is legal, safe and discreet. In fact, you can sell your gun or gun collection from the comfort and safety of your own home using Cashmyguns.com. The Best Alternative to Pawning a GunWe at Cash My Guns are licensed to buy and ship firearms under our Federal Firearms License (FFL), and we follow the rules laid out by the ATF (Bureau of Alcohol, Tobacco, Firearms and Explosives). Our FFL allows us to help you sell your gun or gun collection without going to a local pawn shop in person. Pawn shops like fully functioning guns, unlike Cash My Guns where we will purchase non-functioning guns that have cultural or historical value. Instead of entering a pawn loan agreement for your gun with ASTRONOMICAL interest rates, why not just sell your gun to us for a great price? Entering into a pawn shop loan agreement can be a confusing process with difficult to understand terms. The process at Cash My Guns is simple: We professionally appraise every firearm that comes to us. We can also help you identify the gun or guns in your collection if you’re unsure of their makes and models. Our gun appraisals follow strict guidelines based on: make, model, metal finish, wood & composite finish, overall condition& functionality, rarity, and comparative sales. Our appraisals are always fair, and we are always willing to explain our value assessment upon request. We pay for the shipping and transaction costs associated with selling a gun or gun collection. We pay to have the shipping supplies sent to you. Our firearm transfer methods are approved by the ATF and major shipping carriers. By using Cash My Guns, you save money in fees, not to mention the time and resources needed to sell a gun collection private party. We allow you to track your gun shipment during the entire process. You can feel safe knowing that your firearm collection will arrive at our warehouse quickly, safely and that you get paid. Cash My Guns makes it as easy as possible for you to sell your unwanted firearms at no cost. Once your gun or gun collection has been received, we send you a check for an agreed-to value. Not ready to ditch your whole collection? No problem! Dip your toes and explore our process by starting with the sale of one gun, but remember, you’ll get more bang for your buck when you sell in bulk! Begin our safe, discrete and legal process here. “DISCLAIMER Can you pawn a gun not registered in your name in Ohio?Because of all the regulations around firearms, you cannot pawn a gun that is not registered in your name (you will be asked for ID). If a gun has been reported stolen, the pawn shop is required to report it to authorities. Pawning stolen guns is illegal in Barberton, OH and throughout the United States.
Can I carry a gun that is not registered to me in Texas?Being a state that allows open carry and constitutional carry without a license makes Texas one of the most gun-friendly states in America. As for whether or not you can have an unregistered gun in Texas, no statutes are currently on the books that prohibit or require firearms in the Lone Star State to be registered.
Can you gift a gun in NJ?It is unlawful to sell, give, transfer, assign, or otherwise dispose of, or receive, purchase, or otherwise acquire a handgun unless the purchaser, assignee, donee, receiver, or holder is licensed as a dealer under New Jersey law or has first secured a Permit to Purchase a handgun.
Do pawn shops negotiate on guns?The first price is the actual price you want to sell or buy an item for, but pawnshops will likely haggle down the price. This is the time to bring out the big guns, wherein your second price meets roughly about 50 percent of your desired deal.
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