Connecticut pawn loan calculator
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EstimateConnecticut
$10
maximum charge for the first month
- Total charges
- $10
- To get your item back
- $510
- Monthly rate
- 2.0%
Maximum allowed by state law. A pawn shop can charge less; your pawn ticket shows the real amount.
Pawn shops by city in Connecticut
Connecticut pawn loan rules
| Maximum charge | 5% a month on loans up to $15, 3% up to $50 and 2% a month above $50. |
| Loan term | An item cannot be sold until 60 days after it was pawned. |
| ID required | Photo identification with an identifying number. |
What a pawn loan costs in Connecticut
| Loan | First month (max) | To redeem after 1 month |
|---|---|---|
| $100 | $2 | $102 |
| $250 | $5 | $255 |
| $500 | $10 | $510 |
| $1,000 | $20 | $1,020 |
| $2,000 | $40 | $2,040 |
These are ceilings. The charge on your pawn ticket can be lower, and the ticket must show it with the annual percentage rate. To see two or more months, change the months in the calculator above.
Before you pawn in Connecticut
- Bring a valid government-issued photo ID.
- Connecticut ID rule: Photo identification with an identifying number.
- Ask for the total to redeem on the due date and the last day of the grace period.
- Compare at least two shops: see pawn shops in Waterbury.
- Read how pawn loans work and what happens if you don't pay.
Questions
How much does a $500 pawn loan cost in Connecticut?
At the legal maximum, $10 for the first month, so $510 to get the item back after one month. A $1,000 loan costs up to $20 for the first month. Shops can charge less.
What ID do I need to pawn in Connecticut?
Photo identification with an identifying number.
How many pawn shops are listed in Connecticut?
5 pawn shops in 1 city: Waterbury.
Sources
- CGS§21-44,§21-45: cga.ct.gov