Kentucky pawn loan calculator
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EstimateKentucky
$110
maximum charge for the first month
- Total charges
- $110
- To get your item back
- $610
- Monthly rate
- 22.0%
Maximum allowed by state law. A pawn shop can charge less; your pawn ticket shows the real amount.
Pawn shops by city in Kentucky
Kentucky pawn loan rules
| Maximum charge | Interest up to 2% a month plus a fee of up to one fifth (20%) a month for title, storage, insurance and other costs. |
What a pawn loan costs in Kentucky
| Loan | First month (max) | To redeem after 1 month |
|---|---|---|
| $100 | $22 | $122 |
| $250 | $55 | $305 |
| $500 | $110 | $610 |
| $1,000 | $220 | $1,220 |
| $2,000 | $440 | $2,440 |
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 Kentucky
- Bring a valid government-issued photo ID.
- 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 Louisville.
- Read how pawn loans work and what happens if you don't pay.
Questions
How much does a $500 pawn loan cost in Kentucky?
At the legal maximum, $110 for the first month, so $610 to get the item back after one month. A $1,000 loan costs up to $220 for the first month. Shops can charge less.
How many pawn shops are listed in Kentucky?
23 pawn shops in 1 city: Louisville.
Sources
- KRS226.080: apps.legislature.ky.gov