Where to Get the Best Rates for your Sangla?
It’s Christmas once more and its not just the busiest time of the year, its also the costliest time. I wouldnt be surprised to see myself and other people lacking funds due to one expense or another. So what’s the solution to that? You either borrow money from a friend or pawning your belongings to a pawnshop.
These days however its become difficult to borrow from friends and family either because they don’t have money to spare or they trust issues.
Pawning your belongings like jewelry is the better option. You have a dozen or so options as well as have various rates you can choose from.
So what makes for a good pawnshop?
I went around the metro to see what the ideal pawnshop should be? I was looking to pawn this…
A a glance, I knew that the most important thing that people look for in pawnshops are the rates.
Above you’ll see how one known pawnshop appraised my 18k necklace and pendant which should be worth 10,000 pesos. I know it would be traded at a lower price but this was lowballing. Too low.
I tried another one…
Pretty much higher with 7,100. But I wanted to know which shop gave the highest rates and lucky for me, I checked out Cebuana Lhuillier.
They had better facilities, as well as free appraisal for your jewelry and best of all, they have the highest exchange rate, para di ka naman lugi. You are after all parting with something special and valuable.
In my case, that necklace valued at around 10k got around P7,600. Higher than that other pawnshop I asked.
My take home from this transaction? P7400. Remember they have to make a deduction from the deal, that’s how their business work. Ok na yan. At least I had managed to stretch out the household budget a little further this Holiday season.
You may say “hmp, konti lang ang difference” but believe me when I say that those few extra hundred bucks goes a long way. I’m quite happy that Cebuana Lhuillier recognizes this and makes it a point to stay higher than their competitors.
So whats the moral of the story or rather of this blog post?
(A) its good to compare, don’t settle with the first pawnshop you deal with. Don’t be tamad when it comes to looking for the best deals for your valuables.
(B) its better to pawn than to borrow. There’s less risk compared to borrowing and you don’t end up making more enemies than friends. Its also faster because all you have to do is line up and fill the form.
(C) there’s nothing wrong with pawning. It’s not even a sign of weakness at all. You can actually make a business out of this if you play your cards right.
(D) Cebuana Lhuillier has the best rates in the Philippines period. You get excellent value and you can extend your pawn period at any branch in the Philippines.
Go and check this Vlog episode I prepared along with this post.