Some stores will negotiate price and some won't. If that was your question. I don't know of any stores that only take cash although there might be some.
-
SigTalk is a forum community dedicated to SIG Sauer enthusiasts. Come join the discussion about Sig Sauer pistols and rifles, optics, hunting, gunsmithing, styles, reviews, accessories, classifieds, and more!
Pawn shop buying
Completely random question, but here goes… on a few occasions I’ve stopped in a pawn shop/lgs just to check to see what’s in. I’ve found a few I wanted to take home, but didn’t have the cash with me. Is it expected to get the out the door price (especially for used) when using a credit card?
1 - 20 of 26 Posts
I did a poor job of asking the question. Your answer was helpful!Some stores will negotiate price and some won't. If that was your question. I don't know of any stores that only take cash although there might be some.
Remember CC's charge the store up to 3% so take that into consideration when making an offer. I usually lowball them a little and tell them I'll be using a CC, then give them a lower "cash" offer. A lot of times they'll take it.
Depends on how bad they want to sell .. bargain all you can .. nothing to loose here.
I prefer to have cash when I shop at a pawn shop. It makes dealing easier. If I'm dealing with a gun store, I'll consider using a card if they won't take my check.
What’s a “check”?I prefer to have cash when I shop at a pawn shop. It makes dealing easier. If I'm dealing with a gun store, I'll consider using a card if they won't take my check.
Just kidding, but are you saying there LGSs that accept checks for firearm sales? And if so, why would one prefer to pay with a check versus credit card (enhanced warranty period, points/miles earned etc) ?
I have offered to split the difference re cash discount. If the store has to pay 3% (I ask them) I offer them 2% less for cash purchase. Example: a $500 purchase will cost the store $15.00. I am offering them $490. Never once have I had the offer accepted. They would rather pay the CC fee and net $5 less money than do someting unusual.
Fine with me: I get a minimumm of 1% cash back on my credit card and they pay the seller's fee.
Fine with me: I get a minimumm of 1% cash back on my credit card and they pay the seller's fee.
I recall during the SH 'panic' I found a barely used Glock 30 at a fair price at an LGS. I asked if they would offer any cash discount. The counter guy asked the owner who replies so everyone at the counter can hear, 'NO way, you can't find them anywhere!'I have offered to split the difference re cash discount. If the store has to pay 3% (I ask them) I offer them 2% less for cash purchase. Example: a $500 purchase will cost the store $15.00. I am offering them $490. Never once have I had the offer accepted. They would rather pay the CC fee and net $5 less money than do someting unusual.
Fine with me: I get a minimumm of 1% cash back on my credit card and they pay the seller's fee.
So I replied, 'NO problem, I'll take it and pay with Discover so you can lose at least 3% on the sale.' The guy helping me chuckled a bit and rang me up.
I used to frequent a local pawn shop which ONLY took cash - no CC, no checks, no discounts, nada. The man who ran it was a real jerk, but I found a few interesting things and good deals there over the years.
Remember the real money at LGS, and pawn shops is the used guns! I have seen pawn shops give 100.00 on a loan for a 900.00 gun. The owner did not renew the loan and lost the gun. They would sell the gun for near value. That is what it is all about. Some LGS's offer about the same or a little more to take in or trade for a used gun. Same deal. So don't feel bad about low balling them. They are still making big money on the deal. Just my .02. Credit cards, they are still making money, that is why they take cards.
Pawn shops are expecting you to offer a lower price. Thats how they make their living. Beware, they do the negotiations every day.
flwing, I bet the owner did not give you receipts for anything as well! That is the first sign of no paper trail. Unreported income. No credit cards or check, means no bank deposits. Sounds really shaddy to me. But that is between him and the state. The buyer should beware also just to prove ownership of an item purchased. Red Flags everywhere.
He did give receipts, prominently stamped "ALL SALES FINAL - NO REFUNDS - NO RETURNS" and filled out 4473's properly.flwing, I bet the owner did not give you receipts for anything as well! That is the first sign of no paper trail. Unreported income. No credit cards or check, means no bank deposits. Sounds really shaddy to me. But that is between him and the state. The buyer should beware also just to prove ownership of an item purchased. Red Flags everywhere.
And they usually will buy guns for less than half market value, or put on consignment for like 20% commission.Remember the real money at LGS, and pawn shops is the used guns! I have seen pawn shops give 100.00 on a loan for a 900.00 gun. The owner did not renew the loan and lost the gun. They would sell the gun for near value. That is what it is all about. Some LGS's offer about the same or a little more to take in or trade for a used gun. Same deal. So don't feel bad about low balling them. They are still making big money on the deal. Just my .02. Credit cards, they are still making money, that is why they take cards.
Pawn shops are expecting you to offer a lower price. Thats how they make their living. Beware, they do the negotiations every day.
I know that it varies tremendously from store to store, but our former (chose a different line of work) LGS and now this current one each add 10% to what YOU TELL THEM how much money you want for the gun you place on consignment. That is their sticker price. If someone makes a lower offer they call you and you are the one to barter for the price of the gun. In any case they get their 10% commission on the actual sale price.
If you just sell them a gun or use one for trade they may be making more money per gun. We've not done that with this shop so I don't know. I know one day hubby took a scandium revolver to put on consignment. They asked how much he wanted and when he told them, the owner whipped out the cash and gave it to hubby. It looked like the store felt they could sell it for more than their 10% upcharge commission - or that the owner just wanted to buy it for himself. That is OK. Hubby got what he felt was fair, considering what he had paid for the gun, used, a few years previously.
If you just sell them a gun or use one for trade they may be making more money per gun. We've not done that with this shop so I don't know. I know one day hubby took a scandium revolver to put on consignment. They asked how much he wanted and when he told them, the owner whipped out the cash and gave it to hubby. It looked like the store felt they could sell it for more than their 10% upcharge commission - or that the owner just wanted to buy it for himself. That is OK. Hubby got what he felt was fair, considering what he had paid for the gun, used, a few years previously.
I can't recall the last time I purchased a firearm from a large sporting goods store, CDNN and other on-line sellers are the only exception. I buy from family owned LGS and pawn shops, many of which have had to raise prices by 3-3.5% for credit card customers. (Note: My wife is the office manager for a small animal vet and recently they had to start a cash/check rate [normal fees] and credit card rate [+ 3.5%] for their services. Additionally, with cash or checks, they immediately have funds in their account upon deposit, while they have to wait for the credit card payments to post to their account.) If I can avoid paying the credit card fee by paying with cash or check, that's what I'll do. I've established a good reputation with the stores I frequent, and I every once in a while, a new clerk will hesitate when I say I want to pay by check, but I've never been denied.What’s a “check”?
Just kidding, but are you saying there LGSs that accept checks for firearm sales? And if so, why would one prefer to pay with a check versus credit card (enhanced warranty period, points/miles earned etc) ?
I may be wrong, I believe years ago retailers would not give cash discounts. I believe they were prohibited from doing that by the terms of their agreements with credit card companies. If true, something must have changed. One of our favorite local restaraunts now adds a fee onto a bill if paid with a cc. Here is a link to an article on discounts, surcharges, and what is legal. Cash Discounts and Credit Card Processing Fees - What Not to Do. What is legal might depend on your state's law. I agree with one that permits a surcharge as long as the business doesn't hide the additional cost of using a credit card from the consumer until after thay pay for the item.
None of the Pawn Shops or Gun Shops in my area give cash discounts so I pay with a Credit Card and get 2% back. At the gun shows they do charge a 3% fee for credit card so I pay cash when I buy a gun at a gun show.
I love pawn shops. In most cases they don’t have anything I have interest in but when they do, there are some gems to be found. In my experience, the pawn guys are experts on many things but not so much Sigs. Especially “special Sigs”. I always negotiate and when I throw out the number I add the words “out the door” ie all taxes and cc fees included. Knowing more about Sigs than them allows me the opportunity effectively to articulate why a certain Sig is worth less than they are asking 😉
1 - 20 of 26 Posts
- This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
SIG Talk
A forum community dedicated to SIG Sauer Pistols and SIG Sauer Rifles owners and enthusiasts. Come join the discussion about optics, hunting, gunsmithing, styles, reviews, accessories, classifieds, and more!
Full Forum Listing
Explore Our Forums
Top Contributors this Month
View All
Harry_Gorilla
787 Replies
cremaley
724 Replies
dwg13013
307 Replies
