North Carolina pawn loan calculator
$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 North Carolina
North Carolina pawn loan rules
| Maximum charge | Interest up to 2% a month plus fees of up to 20% a month, capped at $100 the first month, $75 the second and third and $50 after that. |
| Loan term | 30 days minimum; redeemable within 180 days unless renewed. |
| Grace period | The item cannot be sold until 60 days after the maturity date. |
| Holding periods | Items cannot be sold before 7 days after the electronic police report or 30 days after the transaction. |
| ID required | You must be 18 and show accepted ID. |
| Renewals | Renewals by mutual agreement. |
What a pawn loan costs in North Carolina
| Loan | First month (max) | To redeem after 1 month |
|---|---|---|
| $100 | $22 | $122 |
| $250 | $55 | $305 |
| $500 | $110 | $610 |
| $1,000 | $120 | $1,120 |
| $2,000 | $140 | $2,140 |
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 North Carolina
- Bring a valid government-issued photo ID.
- North Carolina ID rule: You must be 18 and show accepted 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 Greensboro or Charlotte.
- Read how pawn loans work and what happens if you don't pay.
Questions
How much does a $500 pawn loan cost in North Carolina?
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 $120 for the first month. Shops can charge less.
How long does a pawn shop hold my item in North Carolina?
Loan term: 30 days minimum; redeemable within 180 days unless renewed. Grace period: The item cannot be sold until 60 days after the maturity date.
What ID do I need to pawn in North Carolina?
You must be 18 and show accepted ID.
How many pawn shops are listed in North Carolina?
103 pawn shops in 8 cities: Greensboro, Charlotte, Raleigh, Fayetteville, Winston-Salem, Wilmington and more.
Sources
- N.C.G.S. §66-393: ncleg.gov
- N.C.G.S.§66-387(3),§66-394–395: www3.ncleg.gov