5 Interesting Facts About Pawn Shops In Singapore & How They Work
Did you know that there’s a 6-part Pawnbrokers Act? Singapore indeed was a little late in having a pawnshops-specific act that benefited the consumer, but the act is pretty strong and one of the best in the world. But of course, not everyone has got the time to go through it. That’s why we are here. Are pawnshops really cheaper in Singapore? Can pawn shops be compared with banks? Is pawning your asset better than a personal loan? You should compare personal loan rates using loan calculators before deciding. Here are the top things to know about pawn shops in Singapore before you think of pawning something or taking part in a pawnshop auction. Heads up – the ride will be bumpy! Make sure you carefully understand the implications because there’s nothing worse than a nasty shock later such as knowing that you have to pay much more than the loan amount if you delay. 1. Pawnshops do have interest rates Yes, there are fees. You cannot...