Louisiana pawn loan calculator
$100
maximum charge for the first month
- Total charges
- $100
- To get your item back
- $600
- Monthly rate
- 20.0%
Maximum allowed by state law. A pawn shop can charge less; your pawn ticket shows the real amount.
Pawn shops by city in Louisiana
Louisiana pawn loan rules
| Maximum charge | Interest up to 10% a month plus a service charge of up to 10% a month of the loan. |
| Loan term | 3 months minimum. |
| Grace period | The item cannot be sold before the next business day after maturity. |
| Holding periods | In a criminal case the item goes to the police or court until ownership is decided. |
| ID required | Driver license, passport, military ID or other government-issued ID. |
| Renewals | Paying all interest and charges creates a new pawn with a new maturity date. |
| Other fees | A lost-ticket fee can apply. |
What a pawn loan costs in Louisiana
| Loan | First month (max) | To redeem after 1 month |
|---|---|---|
| $100 | $20 | $120 |
| $250 | $50 | $300 |
| $500 | $100 | $600 |
| $1,000 | $200 | $1,200 |
| $2,000 | $400 | $2,400 |
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.
Licensed pawn shops
Louisiana publishes its list of licensed pawnbrokers: Louisiana Office of Financial Institutions pawnbroker licensees. We matched each listed shop by street address: 35 of 37 appear on it and are marked state-licensed. A shop that is not marked may still be licensed under another address or name; check the official list.
Before you pawn in Louisiana
- Bring a valid government-issued photo ID.
- Louisiana ID rule: Driver license, passport, military ID or other government-issued 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 Baton Rouge or Lafayette.
- Read how pawn loans work and what happens if you don't pay.
Questions
How much does a $500 pawn loan cost in Louisiana?
At the legal maximum, $100 for the first month, so $600 to get the item back after one month. A $1,000 loan costs up to $200 for the first month. Shops can charge less.
How long does a pawn shop hold my item in Louisiana?
Loan term: 3 months minimum. Grace period: The item cannot be sold before the next business day after maturity.
What ID do I need to pawn in Louisiana?
Driver license, passport, military ID or other government-issued ID.
How many pawn shops are listed in Louisiana?
37 pawn shops in 4 cities: Baton Rouge, Lafayette, Shreveport, New Orleans. 35 of them match the state's official list of licensed pawnbrokers.
Sources
- La.R.S.37:1791: legis.la.gov
- La.R.S.37:1800: legis.la.gov
- La.R.S.37:1793: legis.la.gov
- La.R.S.37:1805(D),(E): legis.la.gov
- La. R.S. 37:1800: legis.la.gov