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How to Pawn with Aaron Signature

Step 1: Assess
Just bring your Pledge to our store for a professional inspection. We will authenticate it for you on the spot.

Step 2: Learn
Aaron Signature will clearly explain the authentication process and you are sure to learn something new about your Pledge.

Step 3: Valuate
You will understand the loan amount that you qualify for based on the value of your Pledge with a clear explanation of how the determination is made.

Step 4: Learn some more
Aaron Signature will review the entire Pawn Loan process with you. All of the terms of your loan will be made clear along with details of the procedure that leads to the ultimate settlement of your loan.

Step 5: Proceed
Upon agreement with your valuation and the terms of your loan, we promptly process your request. You receive funds with a Pawn Ticket referencing the transaction and your Pledge which is securely stored for the duration of your loan.

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WHAT IS REQUIRED? 
Item(s) you wish to pawn
Government-issued photo ID
You must be 18 years of age or older to obtain a Pawn Loan

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TERMS
There is a minimum Pawn Loan charge of 1 (one) month’s interest plus fees.

Interest is 4.99% compounded monthly.
Additional fees are $0.20 for your Pawn Ticket and $0.10 per month for storage.
You have up to 1 (one) year to make your payment in full including principal plus all accumulated interest and fees.
You have up to 12 (twelve) months to redeem your Pledge before the Settlement Procedure begins.

Aaron’s Financial Tip: Remember that your Pawn Loan interest compounds MONTHLY. You can always minimize the overall cost of your loan by making monthly payments to cover the current month’s interest. This guarantees that only your principal (original loan amount) is carried forward to the next month. Thus, you can avoid paying “interest on top of interest”.

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HOW ARE WE DIFFERENT
Our Goal: We are pleased to help you not just once but twice! First, we are here to facilitate your loan request and issue the funds that you require. Second, we support the repayment of your loan 100%. Our objective is not to settle outstanding loans with Pledges. We look forward to returning your Pledge and we do our best to help you every step of the way!

Due Diligence: You will be sure to receive monthly reminder calls regarding the status of your loan.

AARON CARES!
We are pleased to introduce you to the Aaron Signature Flexible Pawn Loan system!
Our system is designed especially for you to encourage your loan repayment every step of the way.
In addition to regular courtesy calls, every month we are pleased to “open” your loan to you.

You have the opportunity to manage your Pawn Loan as an “open” loan, and make any additional payments you choose, when you choose. Whether you just want to cover some interest or trim something off your principal, adjustments will be made to reflect your diligence and thus enable you to reduce the overall cost of your loan. Your balance going forward will be adjusted that month. You are in control of your loan balance (and hence your interest) at all times!

Always remember that you can keep your loan quite “closed”  by default. You have 1 (one) year to make your payment in full including principal plus all accumulated interest and fees.

Furthermore, you continue to benefit right up until the final month of your loan! Aaron Signature gives you the extra support you need during the month you choose to repay your loan in full. For the last month of your loan, you will only be charged interest up to the date of repayment. You won’t pay a whole extra month of interest if you miss the first by a few days or make it mid-month. When you redeem your pledge earlier by repaying your loan, you will have more money at the end of the day!

Final month interest consideration only applies to loans with terms longer than one month.

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PLEDGE REDEMPTION PROCEDURE
You must present your original Pawn Ticket in person to redeem your Pledge.
Please have your government-issued photo ID handy.
Your unique Pawn Ticket number will referenced and matched with your securely stored Pledge.
Your total interest taken and other charges will be calculated.

Once you repay your loan in full including all interest and all fees, Aaron Signature will return your Pledge to you.

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PAWN LOAN SETTLEMENT PROCEDURE
You will receive formal notice delivered by first class registered mail 365 days after your outstanding loan was issued.
A final public notice will be posted on our website 15 days after the mailing date of your first notice.

Once 15 days expire after the public notice, your pledge becomes the absolute property of Aaron Signature as full settlement of the loan.

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Glossary


Closed Loan: a loan with a fixed term, set payment schedule, and the same interest rate for the full term; the total loan amount is issued to the borrower up front; the loan must be repaid in full by the end of the term and by a specified date, including all interest and other charges as agreed upon in advance.


Open Loan: a more dynamic loan with no fixed term and open to interest rate changes; funds (as much or as little as needed) are issued only when required (up to a predetermined maximum); you repay how much you want and when you can, as often as you choose; you can pay down your balance and draw funds again (which is why it’s called “revolving”); as you have more control over your balance, you can minimize your interest payments.


Pawn: to deposit an asset as security for money borrowed.
Pawn Loan: a private loan issued outside of the financial system with no credit check required.
Pawn Ticket: issued to the client with the loan funds to identify the transaction and the client’s Pledge.
Pledge: the asset used as collateral for a Pawn Loan.