What’s the difference between buying jewelery from Lew Silver and buying from a retail jeweler?
Mainly price. We offer you merchandise at 40%to 70% below retail prices. • How does a pawnbroker work? At Lew Silver we specialize in loans on diamonds and gold. Loans are 3 months and interest is 3% per month. Also there is a $1.00 per month storage and a flat 2% insurance fee. The size of the loan is dependent on the collateral presented. • Why do people borrow from pawnshops? Pawnshops offer the consumer a quick, convenient and confidential way to borrow money. A need for short-term cash can be met with no credit check. A customer receives a percentage of the retail value of the collateral item. • What is the foreclosure procedure? In Michigan the loan period set by the state is 3 months. At Lew Silver Diamond Broker we offer an extension period of 28 days after the three months. • How often do customers default on their loans? On average 80 percent of loans are repaid nationally. At Lew Silver our repayment rate is 95%. We want our customers to have their collateral back, which is
