Pennsylvania pawn loan calculator
$
%
EstimatePennsylvania
$15
maximum charge for the first month
- Total charges
- $15
- To get your item back
- $515
- Monthly rate
- 3.0%
Maximum allowed by state law. A pawn shop can charge less; your pawn ticket shows the real amount.
Pawn shops by city in Pennsylvania
Pennsylvania pawn loan rules
| Maximum charge | Interest up to 6% a year (0.5% a month) plus a service fee of up to 2.5% a month. |
| Grace period | The item cannot be sold until 90 days after maturity, with 30 days notice for loans of $7 or more. |
| Renewals | The pawnbroker must renew for the original amount for up to 8 months from the original loan. |
| Other fees | Government reports up to $1. |
What a pawn loan costs in Pennsylvania
| Loan | First month (max) | To redeem after 1 month |
|---|---|---|
| $100 | $3 | $103 |
| $250 | $7.50 | $257.50 |
| $500 | $15 | $515 |
| $1,000 | $30 | $1,030 |
| $2,000 | $60 | $2,060 |
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 Pennsylvania
- 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 Philadelphia or Pittsburgh.
- Read how pawn loans work and what happens if you don't pay.
Questions
How much does a $500 pawn loan cost in Pennsylvania?
At the legal maximum, $15 for the first month, so $515 to get the item back after one month. A $1,000 loan costs up to $30 for the first month. Shops can charge less.
How long does a pawn shop hold my item in Pennsylvania?
Grace period: The item cannot be sold until 90 days after maturity, with 30 days notice for loans of $7 or more.
How many pawn shops are listed in Pennsylvania?
32 pawn shops in 2 cities: Philadelphia, Pittsburgh.
Sources
- Pawnbrokers License Act1937, §§12,14,19,23–24: legis.state.pa.us