Are Arizona Pawn Shops Regulated?

Are Arizona Pawn Shops Regulated?

Are Arizona Pawn Shops Regulated?
When you are conducting business in Arizona, you can feel confident. Every pawn shop is regulated by federal and state laws that protect consumers.
Phoenix, Arizona

Arizona pawn shops give you the opportunity to make a lot of money from your valuable possessions. You can put up your computer, your flat screen TV or other valuable item for a pawn loan and get the cash you need fast.

Yet when you are handing over something that may be the most expensive possession you own to someone you don’t know, you might be a little hesitant without some reassurance. When you are conducting business in Arizona, you can feel confident. Every pawn shop is regulated by federal and state laws that protect consumers.

Federal Laws

All pawn shops in the country fall under the umbrella of certain federal laws. For example, federal firearm laws apply to any business that sells firearms, which includes almost all pawn shops. Some of the requirements of federal firearms laws include running a background check on any person buying a firearm and maintaining a record of all transactions.

The U.S. Patriot Act requires that pawn brokers ask for identification for transactions, and the Federal Trade Commission’s Safeguard and Privacy Rules govern how the pawn shop handles and protects your private information, including your financial information such as credit card numbers.

Purchasing a Firearm – Pawn Now vs Gun Stores

The Truth in Lending Act requires the pawn shop to clearly explain in writing all the terms of your pawn loan, including the interest rate and all fees. IRS regulations also require that all transactions worth over $10,000 are reported. While most people get pawn loans for a few hundred dollars, some Phoenix pawn shops can make much larger loans for items like boats and even real estate.

State Laws

Arizona has many laws regulating pawn shops. For example, pawn shops in Arizona are not allowed to charge more than 8 percent interest per month for the first two months of a pawn loan. After that, the interest rate cannot be more than 6 percent. The interest rate must be prorated daily.

Every pawn shop in Arizona must be licensed by the local municipality. Even in one person owns multiple pawn shops, that person must obtain a separate license for each shop. A business cannot even use the terms “pawn,” “pawn shop” or “pawn broker” in its business literature, signage or advertising until it has received a license.

Of course, pawn shops are also regulated by state laws on taxation, employment, insurance and more. You can see a complete list of Arizona state statutes here (

By understanding the laws that regulate pawn shops, you can better understand the quality of the shop with which you are considering doing business. Pawn Now is a licensed pawn shop with an impeccable reputation in Arizona. We follow all local, state and federal laws regulating our business, and we invite transparency to encourage consumer confidence. We make pawn loans up to $1 million on everything from jewels to aircraft, so our success depends on our reputation. Not only do we follow all regulations, but we also institute our own high standards. We maintain a high-security facility that can keep all your most valuable possessions safe while they are in pawn. We also offer some of the best terms for pawn loans in the state. Visit us today to learn more about the pawn process and to find out how much you can get for your valuables.

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Pawn Now

Pawn Now Phoenix – 85043
691 W. Baseline Rd.
Phoenix AZ 85043
Phone +1 602 276-1664

Pawn Now Phoenix – 85022
14601 N Cave Creek Rd.
Phoenix AZ 85022
Phone +1 602 765-4444

Pawn Now Phoenix – 85019
4135 W. Indian School Rd.
Phoenix AZ 85019
Phone +1 602 442-2160

Pawn Now Mesa – 85207
8151 E. Apache Trail‎
Mesa AZ 85207
Phone +1 480 964-6666

Pawn Now Mesa – 85210
1145 S. Mesa Dr.
Mesa AZ 85210
Phone +1 480 668-1009

Pawn Now Chandler – 85225
1731 N. Arizona Ave.
Chandler AZ 85225
Phone +1 480 821-7296

Pawn Now Apache Junction – 85120
900 W. Apache Trail
Apache Junction AZ 85120
Phone +1 480 288-7296

Pawn Now Mesa – 85204
361 S. Lindsay Rd.
Mesa AZ 85204
Phone +1 480 777-7771

Pawn Now Scottsdale – 85257
7841 E. McDowell Rd.
Scottsdale AZ 85257
Phone +1 480 300-4653

2018-01-08T17:27:44+00:00 March 10th, 2015|Categories: Arizona|0 Comments