FAQs

  1. Homepage
  2. FAQs

General Questions

What is Pawning?

Pawning offers a risk-free way to access quick cash by using your items as collateral. Here’s How It Works: Bring in an item, and the store will provide you with cash in exchange. Your item is held for an agreed period. If you’d like to reclaim it, simply repay the loan amount plus a small fee. If you decide not to retrieve it, there’s no obligation—it’s completely your choice! Pawning is Flexible and Hassle-Free: No Debt or Credit Impact: Pawning doesn’t involve credit checks or create debt you’re required to repay. Accessible to Everyone: No income requirements, credit qualifications, or restrictions apply. Secure and Convenient: The process is fast, confidential, and designed for your peace of mind. In short, pawning is a simple, safe, and efficient option for short-term financial needs!

What do The CLS Pawn Stars do?

We provide loans against collateral, buy items outright, and sell pre-owned goods.

How does pawning work?

People bring items to The CLS Pawn Stars, the items are evaluated, a loan is received, items are reclaimed upon repayment.

What items can I pawn or sell to The CLS Pawn Stars?

Jewelry, gold, silver, coins (silver and gold).

Electronics, Gaming Consoles.

Tools, power tools, and trade tools.

Musical Instruments.

Vehicles, boats, PWC, ATV’S and motorcycles (clear titles only) Collectibles-vinyl, comic books, toys.

Firearms (registered to you).

Sporting Goods (golf clubs).

Anything of value can be used as collateral for a loan.

The items can be new in box or gently used.

The condition of the item will determine the loan value. Items must be clean!

What if I can’t repay my loan?

  1. Loss of the Pawned Item
  2. If you fail to repay the loan by the due date (including any interest or fees), 30 days plus 60 days grace, The CLS Pawn Stars will take ownership of your item.
  3. The pawnshop then has ownership and will sell the item.
  4. No Impact on Your Credit Score
  5. Unlike traditional loans, failing to repay a pawn loan does not affect your credit score because The CLS Pawn Stars do not report to credit bureaus.
  6. This means you won’t have collections agencies after you, but you will lose the loan collateral.
  7. Renewal or Extension Options
  8. The CLS Pawn Stars allows extensions or renewals if you pay the interest and fees.
  9. This can give you more time to repay and redeem your item.
  10. Remember, a pawn by design is to be a short term loan. Long term is NOT to your advantage!
  11. No Legal Action or Debt Collection
  12. Because pawn loans are secured by collateral, The CLS Pawn Stars do not take legal action or send debt collectors after you.

How do you determine the value of my item?

The CLS Pawn Stars have an evaluation process, we check market value, the item's condition, and the demand for each item.


Selling Items

Do you buy items outright?

The CLS Pawn Stars determine the value of an item a customer wants to sell outright based on several key factors.

Here’s how the process typically works:

1. Market Demand

  • The CLS Pawn Stars will assess how popular and in-demand the item is.
  • Items that sell quickly (e.g., gold, electronics, power tools, firearms, luxury watches) typically get better offers.

2. Condition of the Item

  • Items in excellent and CLEAN condition fetch higher offers.
  • If an item is damaged, missing parts, or heavily used, or unclean the offer will be lower.

3. Brand and Authenticity

  • Well-known, reputable brands tend to be valued higher.
  • The CLS Pawn Stars will verify authenticity, especially for luxury items like designer handbags, watches, and jewelry.

4. Resale Value

  • CLS Pawn Stars base their offer on what they can reasonably sell the item for, NOT its original retail price.
  • The Stars will also consider how long it might take to sell.

5. Precious Metals and Gemstones

  • If the item contains gold, silver, or diamonds, its value will be assessed based on current market prices.
  • The CLS Pawn Stars will weigh gold or silver and with your permission test for purity using acid tests or electronic testers.

6. Reference to Online Pricing and Market Trends

  • CLS Pawn Stars check many online marketplaces like eBay, Craigslist, or specialized valuation databases to determine what similar items are selling for.
  • The Stars also consider wholesale prices rather than retail.

7. Risk for the Pawnshop

  • If an item is difficult to sell, has a limited market, or has a high risk of depreciation, the CLS Pawn Stars may offer a lower price.

If you're selling an item outright, it's a good idea to do some research yourself beforehand, clean the item, and bring any original packaging, accessories, or documentation to maximize your offer.

Do I need an appointment to sell items?

No, feel free to come in anytime during our posted business hours, and CLS Pawn Stars will happily help you out!

What should I bring with me when selling or pawning an item?

1. The Item You're Pawning or Selling

  • Ensure it is in good clean condition and fully functional.
  • Clean the item before taking it to the CLS Pawn Stars to make it look more appealing.

2. Any Accessories or Original Packaging

  • Bring anything that adds value to the item, such as:
  • Chargers (for electronics)
  • Cases, straps, or extra parts (for watches, tools, or firearms)
  • Remote controls (for TVs or gaming consoles)
  • Original box and user manual
  • Certificates of authenticity (for jewelry, luxury items, or collectibles)
  • Having all accessories can increase the pawn value and make your item easier to resell.

3. Valid Government-Issued ID

  • CLS Pawn Stars and State Law require identification to complete the transaction.
  • Acceptable IDs include valid:
  • Driver’s license
  • Passport
  • State ID
  • Military ID

4. Proof of Ownership (If Applicable)

  • While not always required, having proof of ownership can help:
  • Receipt or invoice from the original purchase.
  • Certificate of authenticity (for jewelry, designer goods, or collectibles).
  • Appraisal documents (for high-value jewelry or art).
  • Do not bring the CLS Pawn Stars stolen property! If you do, likely you will go to jail!

Bringing these items to the Stars ensures a smooth transaction and can help you get the best possible deal when pawning or selling your item.

Can I negotiate the price you offer?

You can always negotiate an offer. The more documentation you have of it’s value, the cleaner the item and having all accessories will help increase the amount you are offered. It’s better to come in with an idea of what you think your item is worth and what you are hoping to get for it. 

Do you buy broken or damaged items?

CLS Pawn Stars Accept Even If Broken

  • Gold & Silver Jewelry
  • CLS Pawn Stars will buy broken gold, silver, or platinum jewelry because it can be sold for its precious metal value.
  • Loose or damaged diamonds and gemstones may still hold value.
  • Electronics (Depending on the Damage)
  • CLS Pawn Stars may accept some slightly damaged electronics (like cracked screens or missing accessories) if they believe they can repair or sell them for parts.
  • However, non-functional devices (like completely dead laptops or water-damaged phones) are usually not accepted.
  • Power Tools
  • CLS Pawn Stars may buy broken power tools if the damage is minor, if they can be reasonably repaired or used for parts.
  • Heavily damaged tools with missing parts may likely be rejected.
  • Musical Instruments
  • High-value instruments like guitars, keyboards, or brass instruments may be accepted even if they need minor repairs.
  • Severely damaged or cracked instruments may have little to no value.
  • Luxury Watches & Designer Items
  • CLS Pawn Stars buy broken Rolex, Omega, or other high-end watches because they may be repaired or used for parts.
  • Designer handbags with minor damage (like worn-out leather) may still hold some value.
  • Firearms
  • CLS Pawn Stars will accept some broken firearms if they can be repaired or resold for parts.

Items CLS Pawn Stars Are Unlikely to Accept If Broken

  • Cheap electronics (low-end brands, old models)
  • Completely shattered phones, tablets, or laptops
  • Household appliances (microwaves, blenders, TVs)
  • Bicycles with major damage
  • Game consoles with motherboard issues
  • Watches from non-luxury brands

Store Policies

What forms of payment do you accept?

Repayment of Pawns have to be made by debit card or cash. 

When purchasing from us, we accept cash, and all major credit cards and debit cards. 

Can I put items on layaway?

10% down, 10% a month payment for 10 months (no penalty for paying sooner).

Deposits will be lost if not redeemed.

Do you offer appraisals?

We will give you a verbal appraisal for your item(s) but do not offer written appraisals.

What are your store hours and location?

Lafayette:

1 SAGAMORE PKWY. N LAFAYETTE, IN

Hours: M-F: 10am-6pm Sat: 10am-5pm

Phone: (765) 449-8987

Rensselaer:

509 S College Ave, Rensselaer, IN 47978

Hours: M-F: 10am-6pm Sat: 10am-5pm

Phone: (219) 866-0809

Kokomo:

501 S Reed Rd. Kokomo, IN 46901

Hours: M-F: 10am-6pm Sat: 10am-5pm

Phone: (765) 457-5445

What if I can’t repay my loan?

Loss of the Pawned Item (Default)

  • If you fail to repay the loan plus interest/fees by the loan due date, the CLS Pawn Stars keep your item for resale.
  • Unlike traditional loans, pawn loans don’t affect your credit score, but you lose your loan collateral.

Loan Renewal or Extension

  • CLS Pawn Stars allow renewals or extensions if you pay the interest and fees due.
  • This gives you more time to repay and redeem your item.
  • Fees may apply for extensions.

No Debt Collection or Legal Action

  • If you fail to repay, the CLS Pawn Stars simply keeps the collateral item—they won’t send debt collectors or report it to credit agencies.
  • There are no legal consequences unless the item was stolen.

How to Avoid Late Payment Penalties

  • Communicate with the Pawnshop – Ask about extensions.

How do you determine the value of my item?

We have an evaluation process, The CLS Pawn Stars check market value, the item's condition, and the demand for each item.


Customer Assurance

Are items in your store authentic?

To assure customers our items are authentic, whenever possible The CLS Pawn Stars will provide proof of authenticity, use proper testing methods, and offer a guarantee or transparency in verification.

How do you ensure fair pricing?

We will research Market Prices

  • Check online marketplaces to determine current resale values:
  • eBay (sold listings only)
  • Craigslist, Facebook Marketplace
  • Amazon (used items section)
  • Specialized sites (e.g., Reverb for musical instruments, Chrono24 for watches)
  • Use pawn industry guides, like The Bravo database for Pawn Shops, to estimate item values.

We will assess the Item's Condition

  • Consider wear and tear, missing accessories, or needed repairs.
  • Compare pricing for similar condition items in the market.

We will factor in Demand & Resale Speed

  • High-demand items (gold, electronics, tools) sell quickly → Higher payout.
  • Niche or slow-moving items (collectibles, specialty equipment) sit longer → Lower payout.

What should I do if I have questions about my pawned item or loan?

Please call or come into our store during business hours and the CLS Pawn Stars will be happy to assist you.

Lafayette: 317-449-8987

Kokomo: 765-457-5445

Rensselaer: 219-866-0809

Do we offer discounts

We will periodically have special events. Please follow us on Facebook or Instagram because the CLS Pawn Stars will post the events happening as well as special items!

Do you offer any discounts or special promotions?

The CLS Pawn Stars will periodically have special events.

Please follow the Stars on Facebook or Instagram because we will post the events happening as well as special items every day!

Do you offer any warranties

The CLS Pawn Stars does not offer warranties: test the item before leaving the CLS store.

© Copyright 2025. All Rights Reserved