Pawn loans · Costa Mesa, CA
Pawn Loan Rates
How pawn loan rates work in California: what state law sets, what it leaves open, and the terms we write ourselves in Costa Mesa, with a worked example of what a loan costs.
- Licensed CA pawnbroker
- No credit check
- Confidential loans
PawnRates.com is operated by Newport Watch, Jewelry & Loan, a licensed California pawnbroker in Costa Mesa. Rates and terms on this site are our own. It is not a comparison of other lenders.
At our Costa Mesa counter
Our loan terms
- Minimum repayment
- 1 month — redeem anytime
- Maximum repayment
- 4 months, renewable
- Maximum APR
- 33.6% on loans up to $2,499
- Under $2,500
- California Financial Code schedule
- $2,500 and up
- Negotiable
A representative example is in the loan disclosure on this page.
Loan inquiry
Ask us for your rate
Tell us what you’d borrow against and how much you need. We’ll call to talk through the terms that would apply.
15 min
typical visit
4.7★
89+ reviews
Since 2007
family-owned
How your terms get set
Your rate is settled in a set order: the amount first, then the item, then terms you agree to before anything is written.
- 01
Tell us the item and amount
Send the form, or call or text the shop. A rough amount is enough to start; it tells us which set of rules your loan falls under.
- 02
Bring it to the counter
Bring the item and a valid government-issued photo ID. We look at it in person in Costa Mesa, and watches are evaluated in-house by a 40-year veteran watchmaker.
- 03
Agree the terms first
Charges on loans under $2,500 follow the state schedule. At $2,500 or more, we work the terms out with you, loan by loan, before anything is written.
- 04
Redeem or renew
Collect your item any time by repaying the principal plus charges, and ask us what that total comes to on your date. Loans are renewable by agreement.
What sets your rate
Two tiers
Charges under $2,500 follow the state schedule; $2,500+ is negotiable.
- Under $2,500
- Follows state schedule
- $2,500 or more
- Collateral and LTV
- Credit history
- Not a factor
- Loan term
- Same for every loan
Visit the shop
1860 Newport Blvd, Costa Mesa, CA 92627
Mon–Fri 10:00am – 4:30pm
After-hours appointments available
Text us: (714) 679-8591
A short pawn loan glossary
Principal
The amount you borrow, before any charges or fees.
Charges
What the loan costs on top of the principal, fees included.
Documentation fee
The only fee on loans up to $2,499 is a $9 loan documentation fee.
APR
Annual percentage rate: the cost of a loan stated as a yearly rate.
Loan-to-value (LTV)
The amount you borrow, measured against what the item is worth.
Total to redeem
Principal plus charges: what you repay to collect your item.
Loan disclosure
Rates, terms & example
Every loan is written with no credit check and to the same four-month renewable term. Charges depend on the loan amount.
- Minimum repayment period
- 1 month — redeem anytime
- Maximum repayment period
- 4 months, renewable
- Maximum APR
- 33.6% on loans up to $2,499
Small loans ($500 – $2,499): charges follow the California Financial Code schedule for loans under $2,500; the only fee is a $9 loan documentation fee; effective cost is under 3% per month over the full term; maximum APR 33.6%. Representative example: a $2,000 loan for the full 4-month term costs $162.88 in total charges, including the $9 documentation fee. Total to redeem: $2,162.88. APR: 24.43%.
Loans of $2,500 or more are negotiable, depending on the collateral and the loan-to-value. Terms are agreed individually before the loan is written — ask us for your rate.
All loans are written for a 4-month term (the California minimum) and are renewable; you may redeem at any time. CA Pawnbroker License 000003544.
California law
California draws the line at $2,500
California’s pawnbroker law sorts loans by size. A loan under $2,500 follows a schedule of charges set by the California Financial Code, and a licensed pawnbroker has to work within it. For a loan of $2,500 or more, those state rate limits do not apply, and the rate is agreed between the borrower and the pawnbroker.
Our small loans ($500 – $2,499) follow that schedule, and a $9 loan documentation fee is the only fee on them. The maximum APR is shown in the disclosure on this page, next to a representative example. Because that maximum is published, you know it before you walk in.
From $2,500 up, the rate is negotiable, depending on collateral and loan-to-value. Both come back to the item, what it is and what it is worth, so we set those terms with you one loan at a time, before it is written — ask us for your rate.
Reading a rate
Why APR is the number to compare
The cost of a pawn loan can be written three ways: a monthly charge, a dollar total, or an annual percentage rate. APR is the one built for comparison, because it states the cost of borrowing as a yearly rate, whatever the loan’s size. When a lender advertises a rate, federal Truth in Lending rules require it to be stated as an APR. The same reading applies to a loan of $2,500 or more, where the rate is negotiated.
A monthly figure describes the same cost over a shorter period, which is why it looks smaller than an APR. When you see both, weigh the APR. Our disclosure card shows the two side by side for loans up to $2,499: the effective cost per month over the full term, and the maximum APR.
To see a rate as money, use the representative example on the same card: a $2,000 loan for the full 4-month term costs $162.88 in total charges, including the $9 documentation fee. Total to redeem: $2,162.88. APR: 24.43%. It is one loan worked through to the dollar, so read it as an illustration rather than a quote for yours.
Term basics
Four months, renewable, redeem any time
Every loan we write runs on the same clock, whatever the amount: a 4-month term. That is the loan’s length, not a lock-up.
On the disclosure card, the term appears as the maximum repayment period, “4 months, renewable”. California sets 4 months as the minimum loan period, and we write every loan for exactly that. The minimum repayment period is “1 month — redeem anytime”.
- Redeem anytime
- Repay the principal plus charges whenever you’re ready and collect your item. You don’t have to wait for the term to end.
- Loans of $500 – $2,499
- Redeem at any time; schedule charges cover the first 90 days. Ask us for the total to redeem, in dollars, for the day you plan to collect your item.
- Renewable
- If 4 months isn’t enough, loans are renewable by agreement, so talk to us while the loan is still open.
- Who can pawn
- You must be 18 or older to pawn an item in California.
Common questions
Can I know my rate before I bring the item in?
Partly. The disclosure on this page shows the maximum APR, the only fee and a representative example for loans up to $2,499. For $2,500 or more, the rate is negotiated around the collateral and its loan-to-value, so it is set once we know the item.
Why is the example’s APR lower than the maximum APR?
They measure different things. The maximum APR is the upper limit for loans up to $2,499. The representative example is one specific loan, $2,000 for the full 4-month term, and its APR is 24.43%. Charges depend on the loan amount, so the APR on your loan depends on how much you borrow.
Is the $9 documentation fee counted in the APR?
It is in the representative example: the $162.88 in total charges includes the $9 documentation fee, and the 24.43% APR reflects that full amount. It is the only fee on loans up to $2,499.
Does my credit history affect the rate?
No. We don’t run a credit check. Loans under $2,500 are charged on the state schedule; at $2,500 or more, the negotiable rate turns on the item, not your credit. The loan is secured by the item you bring in.
What happens when the four months are up?
You can redeem the item, or renew the loan by agreement. If you do neither, California law has the pawnbroker send you a notice after the term ends, and you then have 10 days from that notice to redeem before the item becomes the pawnbroker’s property. Existing borrowers can pay on the store’s Pay My Loan page.