Pawnbroker

usgb/ˈpɔːnbrəʊkər/
noun

A person who lends money in exchange for personal items if the money is not repaid within a specific time.

He couldn't afford the ring so he borrowed money from the pawnbroker.
Visual representation of "pawnbroker" - A person who lends money in exchange for personal items if the money is not repaid within a specific time.

Often appears as...

  • visit a pawnbroker
  • pawnbroker shop
Definition 1 of 1
Visual representation of "pawnbroker"
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Pawn Implications

A pawned item might be sold by the pawnbroker if the loan isn't repaid on time.

Illustration for Pawn Implications
If I don't repay the pawnbroker in a month, he'll sell my guitar.
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Not a Bank

A pawnbroker is different from a bank; they offer loans based on collateral, not credit.

Illustration for Not a Bank
I went to a pawnbroker instead of a bank since I needed instant cash for my watch.
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Interest Rates

Pawnbrokers usually charge more interest than banks or formal lenders.

Illustration for Interest Rates
The pawnbroker gave me the loan, but the interest rate was quite high.
Visual representation of the word "Pawnbroker"

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