Virginia pawn loan calculator
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EstimateVirginia
$25
maximum charge for the first month
- Total charges
- $25
- To get your item back
- $525
- Monthly rate
- 5.0%
Maximum allowed by state law. A pawn shop can charge less; your pawn ticket shows the real amount.
Pawn shops by city in Virginia
Virginia pawn loan rules
| Maximum charge | 10% a month on loans up to $25, 7% under $100 and 5% a month from $100. |
| Loan term | 30 days minimum. |
| Grace period | 15 days after the 30-day term. |
| ID required | Current government photo ID with your address. |
| Renewals | Renewals for the original amount. |
| Other fees | Lost ticket up to $5; late fee up to 10% of the loan. |
What a pawn loan costs in Virginia
| Loan | First month (max) | To redeem after 1 month |
|---|---|---|
| $100 | $5 | $105 |
| $250 | $12.50 | $262.50 |
| $500 | $25 | $525 |
| $1,000 | $50 | $1,050 |
| $2,000 | $100 | $2,100 |
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 Virginia
- Bring a valid government-issued photo ID.
- Virginia ID rule: Current government photo ID with your address.
- 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 Richmond or Norfolk.
- Read how pawn loans work and what happens if you don't pay.
Questions
How much does a $500 pawn loan cost in Virginia?
At the legal maximum, $25 for the first month, so $525 to get the item back after one month. A $1,000 loan costs up to $50 for the first month. Shops can charge less.
How long does a pawn shop hold my item in Virginia?
Loan term: 30 days minimum. Grace period: 15 days after the 30-day term.
What ID do I need to pawn in Virginia?
Current government photo ID with your address.
How many pawn shops are listed in Virginia?
29 pawn shops in 3 cities: Richmond, Norfolk, Virginia Beach.
Sources
- Va.Code§54.1-4004–4011: law.lis.virginia.gov