Do pawnbrokers attract indigents and derelicts?
Response: Indigents and derelicts have no assets to use as collateral. No one builds a business around these people. The typical pawnbroker’s loan customer is employed, living within one mile of the store, and occasionally needs short-term cash for an unusual bill such as a medical expense or car repairs. The typical retail customer is a bargain hunter, either by need or desire and comes from all walks of life. Most pawnbrokers’ customers are repeat customers.
Response: Indigents and derelicts have no assets to use as collateral. No one builds a business around these people. The typical pawnbroker’s pawn customer is employed, living within one mile of the store, and occasionally needs short-term cash for an unusual bill such as a medical expense or car repairs. The typical retail customer is a bargain hunter, either by need or desire and comes from all walks of life. Most pawnbroker’s customers are repeat customers.
