How do pawnshops make profits?

Question:


Answers:

New car fees?

They take advance of people hard on their luck and buy your item for a lower price. You have 30 days to come back and get it. You pay the money back plus a fee. Most people never come up with the money to get their item back. The pawn shop then sells it for a profit.

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What is the best..?

Same way any store makes a profit, they buy low and sell high.

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3 cars to choose from. Which is the best?

They give you as little of money as possible(when you sell ans item) and then sell it to some one else for alot more money.

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A new used car?

I own a pawn shop
I loan 1/3 of something value
I sell at half of somethings used value
in the state that i live in interest is 25%
example: 100 loan is 125 to pick up
I hold your merchandise for 30 days at the end of the 30 days you can pay me back my loan plus 25% or just the 25% and i will hold it for another month
or not come back at all and your property becomes mine.
I am a loaning institution subsidized banking commission if i did what people say that pawnshops do id be in jail.I don't rip people off.I work for a living just like u do.
I make money by selling merchandise (NEW AND USED)
and my loans

Should I pay tax if I buy a used car from a private party?

hope this helps

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