Pag Asa Pawnshop Mandaue, also known as Davao Ros-Ver and New Pag-Asa, is a reputable pawnshop in the Philippines that provides pawning services with competitive interest rates. With their commitment to helping individuals in need of immediate financial assistance, Pag-Asa Pawnshop accepts a wide range of valuables such as jewelry, watches, appliances, gadgets, and more.
Established in 1987, Davao Ros-Ver and New Pag-Asa have strategically-located branches across the Visayas and Mindanao regions. Their headquarters is situated at 102v Ilustre St, Poblacion District, Davao City, 8000 Davao del Sur. Operating hours may vary depending on the branch, but generally, they are open on weekdays from 8:30 a.m. to 6:30 p.m. The pawnshop offers various services including pawning, loans, prenda-pasok, and auctions.
Pros and Cons Pag-Asa Pawnshop
When considering a company’s services, it is essential to thoroughly evaluate the advantages and disadvantages they offer. Simply browsing their website or catalog may not provide enough information. It is crucial to delve deeper and assess reviews from previous customers or seek recommendations from others who have utilized their services. This will help determine if the pawnshop is trustworthy and if your item will be safe until you repay your loan.
Here are the pros and cons of Davao Ros-Ver and New Pag-Asa Pawnshop.
Pros
- Wide Selection of Merchandise: The pawnshop offers a diverse range of merchandise including jewelry, electronics, appliances, furniture, and accessories. This provides customers with ample options to choose from.
- Debt Consolidation: Pag-Asa Pawnshop provides debt consolidation services, allowing individuals to manage their outstanding loans more effectively.
Cons
- Short Loan Repayment Period: One disadvantage of using Pag-Asa Pawnshop is the relatively short loan repayment period, which is limited to a maximum of 90 days. This may not be suitable for individuals who require more time to repay their loans.
- Bank Account Requirement: Another drawback is that a loan cannot be approved without a linked bank account. This may pose a challenge for individuals who do not have access to banking services.
Products and Services Pag-Asa Pawnshop
Davao Ros-Ver and New Pag-Asa Pawnshop offer a range of products and services to cater to their customers’ needs:
Pawning
The pawnshop provides competitive interest rates of 5% per month for small items such as jewelry, watches, and cellphones, and 6% for larger items including appliances, computers, musical instruments, and electrical devices. Upon presenting the item for pawning, an appraiser will inspect it and provide its value. First-time customers are required to fill out the Know Your Customer (K.Y.C.) form and present a valid ID. Once an agreement on the appraiser’s price is reached, a receipt will be issued, which must be kept safe for future reference when renewing or redeeming the pawned goods after loan repayment. Partial renewal of the pawned item is also possible by paying a portion of the principal amount within 25 days of the loan date. It is also possible for the previous owner of the pawned item to transfer ownership to another individual.
Prenda Pasok
This service allows customers to purchase auctioned items even if they do not have immediate finances. Davao Ros-Ver and New Pag-Asa Pawnshops will pawn the purchased auctioned item, and the amount received will be the selling price minus the appraised value. A receipt will be issued after an agreement is reached on the prenda-pasok purchase price. It is crucial to keep the pawn ticket safe as it will be required for renewing or redeeming the pawned goods.
Auction
The pawnshop lists all available auction items on their website, and customers are advised to read the Pages Group Rules before proceeding with any transactions.Auction items are jewelry: rings, necklaces, chokers, bracelets, earrings, anklets, as well as accessories, computers, electronic gadgets, musical instruments, game consoles, household appliances, power tools.
In conclusion, Pag-Asa Pawnshop is a reputable pawnshop in the Philippines that offers a wide range of pawning services. With their competitive interest rates and diverse selection of merchandise, they aim to assist individuals in need of immediate financial assistance. However, it is important to consider the short loan repayment period and bank account requirement when deciding whether to utilize their services.
FAQ
What is Pag-Asa Pawnshop famous for?
Pawnshop Pag-Asa offers financial services – secured loans to those who need them. If the client urgently needs money and he has jewelry or gadgets, then he can get a loan by pledging his valuables.
Who owns the Davao Ros-Ver and New Pag-Asa pawnshops?
Owners multiple is a partnership between Davao Ros-Ver and New Pag-Asa.
Who can apply for a Pag-Asa loan?
Customers who are Filipino citizens and are at least 18 years of age with a valid ID or proof of identity. In addition to the above, the client must have
Bank account.
What is the interest rate of a secured loan at Pag-Asa?
The deposit has an interest rate of 5% per month for small items and 6% per month for larger items such as appliances and computers.
What is the loan approval time at Pag-Asa?
Usually, Pag-Asa loan approval time is 1 day.
Is Pag-Asa Pawnshop a legitimate company?
Pag-Asa Pawnshop has a business permit from Bangko Sentral ng Pilipinas.
What is the maximum period for which I can take out a loan from Pag-Asa?
Loans at the Pag-Asa pawnshop are issued for a maximum of 90 days.
Does Pag-Asa Pawnshop hold collateral for the loan period?
Pawnshop Pag-Asa keeps the collateral for the loan period and has no right to sell it before the expiration of this period. However, if the client has not repaid the loan, then the pledge is sold at auction.
How is a Pag-Asa loan different from a jewelry loan?
The Pag-Asa loan is a short-term secured loan and the items are not high end. Loans for jewelry are unsecured and are issued for a long period of up to 5 years.
Is proof of the borrower’s monthly income required to receive a loan from Pag-Asa?
To obtain a secured loan, only an item as collateral and an identity document of the borrower are required.
Author Maria Torres from Upfinance.
Source: https://upfinance.com/
