If you have an old bike just sitting at home and rusting, you may want to pawn it off to make some space for a new one. But do pawn shops take bikes? Yes, they do! We will talk a bit more about tips and tricks for pawning off your bike.
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Biking is a trendy item that you will see in a pawnshop. Biking to date is a very preferred way of exercise and the most chosen mode of transportation. People in their leisure activities like to participate in cycling.
Cities like Philadelphia are becoming popular for their biking-friendly nature. The government has built around 200 miles of bike lanes, which can be seen throughout the city. There is an international cycling classic challenge where professional cyclists complete 12.3 miles around the city. The cycling starts and ends around the Manayunk Wall.
Bikes That Pawn Shops Take
With different runs in different cities, you can pawn stylish bikes at affordable prices. The pawnshop can pawn your bike for as low as $50 or as much as $10,000.
Among different types of bikes with different operations, there are types of bikes. Some of them are discussed here.
Road bikes
It is the most kind of bicycle that is designed for tough, paved roads. It is the most competitive cycling bike.
Mountain bikes
With a sturdy frame, wide grip tires, and multiple hard gears that make your ride on the mountain or rough terrain very easy via Mountain bikes.
BMX Bikes
BMX are sporting bikes. They are used for racing and stunts mainly. Typically BMX bikes include lots of customization and are mostly preferred by youth bikes.
Modified bikes
People modify their bikes. Like they’ll add some custom handlebars or make a specific type of upgrade in the tires. If the general public is convinced with the modification, there are chances that the value of the by increases by 10%.
If the modification is customized, it is more like a personal taste. And not appealing to the general public, then the bike’s value is decreased by 10%. To sell your modified bikes, you need to have creativity or a general mass review.
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Price For The Bikes
If the bike you are selling is very well maintained, you can expect to receive around half the original price.
- $100 to $300 for a road bike
- $200 to $450 for mountain bikes and
- $20 to $50 for a BMX bike.
Drawbacks of pawnshop while taking charge of a bicycle
The winter season is not a buying or selling season for most pawn shops. It is because the storing of bike turnarounds costs additional charges. If you wish to pawn a bike in the winter, the price gets reduced by 10 to 15% from the original price. The pay is lesser as compared to springs or the summers.
How does a pawnshop work?
Whenever you go to a pawn shop for bikes, You need to understand the working of the pawnshop loans. Technically what happens is a pawnshop works because it’ll get a loan for the item you bring to the pan shop. The pawnshop tells you the initial price of the bike and the amount that they are paying.
For example, if your bike is around $200 in the pawnshop, it will tell you that they will hold the bike and give you a hundred dollars. You are to come back in 30 days. At the end of the 30 days, you have to come back, pay the $100 and the fees, and you can get your bike back.
Even if you do not come at the back of 30 days, the pawnshop owns your bike and can now legally sell or do whatever with the bike they wish.
Steps taken by Pawn Shops while buying your bike!
Anything you bought to a pawnshop, your bike needs to be examined. Examinations include the defects, mechanical issues, damage, and overall condition. You can expect to receive around 40 to 60% of the original value of the bike.
Is biking worth it for a pawn shop?
Obviously yes. The pawnshop takes bikes. Though the demands of bikes are not the same everywhere and it comes with its disadvantages and advantages. However, if you feel that people around you love to rent bikes, you can always go to a pawn shop to pawn your bike.
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Answers To Some More Questions About Bikes and Pawn Shops
Will A Pawn Shop Take A Bike?
There are various types of items that you can take to a pawn shop. The pawnshop takes a variety of things. Most of them are in great shape and have value for what others are looking for. In other words, we can summarise that a pawn shop does not want your junk; instead, it needs a product that can be easily resold to some other customers.
One of the main things that pawn shops keep is jewelry. However, keeping bikes at a pawn shop is also valuable. The geography of a place plays an essential factor when it comes to biking. The local pawn shop will hold your bike if you live in an area where people love biking.
What is the best thing to pawn at a pawn shop?
The requirements of a pawnshop are quite different for different people. Some people want to pawn for cash that is more than $50, while some are at the pawnshop to acquire quick cash. So if you are looking for cash for more than a hundred dollars, you can put in some old iPads or iPhones, which instantly give you some quick cash.
A piece of jewelry, sports equipment, electronics, guns, instruments can be other sources of quick income. However, if you are looking for a pawnshop, giving the most money for it can be gold, diamonds, some vehicles, or even a piece of real estate.
Pawnshop owners are intelligent enough to resell and collect items like antique designer handbags because the higher ticket items are in higher demand from customers.
Pawn Shops Do Take Bikes!
Bikes are the recreational vehicles that most tourists or someone looking for in a pan shop or someone who needs a bike. So you can always trade your bike in a pawn shop. There are also times when you want to discard your old bike. The best thing you can do is hand it over to a pawnshop.
We hope that the article provided information about the pawnshop expecting bikes and the best things to sell in a pawn shop which might be your extra belongings. You can visit the nearest pawn shop today.
If you were able to successfully pawn off your bike recently, do share your experience with our readers in the comments section!