About pawnshop
Davao Ros-Ver and New Pag-Asa is a Philippine pawnshop that offers pawning services at a monthly interest rate of 5% on small items and 6% on bulky items, plus an on-point appraisal value. They accept jewelry, watches, appliances, telephones, gadgets, music instruments, kitchenware, and other valuables to aid persons needing immediate financial assistance.
Established in 1987, Davao Ros-Ver and New Pag-Asa, has 74 strategically-located branches in Visayas and Mindanao region. The pawnshop has its headquarters at 102v Ilustre St, Poblacion District, Davao City, 8000 Davao del Sur. Depending on the branch, the pawnshop is open weekdays from 8:30 a.m. to 6:30 p.m. and offers pawning, loans, prenda-pasok, and auction services.
Pros and cons
It's not enough to just check out a company's website or catalog and get a feel for their products. You have to go deeper than that and look into the advantages and disadvantages of investing in them. You can also read reviews about how they conduct business or ask others who have used them in the past. You need to understand if your item is safe in the pawn shop until you can have it back when you repay your loan. It will help you decide whether to use their services or not.
Here are Davao Ros-Ver and New Pag-Asa pawnshop's pros and cons.
Pros
Offers a large selection of merchandise, including jewelry, electronics and appliances, furniture, accessories, and more
Has debt consolidation
Cons
Has a short loan repayment period of up to 90 days.
A loan cannot be approved without a linked bank account.
Products
Davao Ros-Ver and New Pag-Asa pawnshop offer the following products and services.
- Pawning. The pawnshop offers an interest rate of 5% per month on small items like jewelry, watches, and cellphones and 6% on larger items, including appliances, computers, musical instruments, and electrical devices. After you present the item for pawning, the appraiser will inspect it and give you the value. If you are a first-time customer, you must fill out the Know Your Customer (K.Y.C.) form and present a valid ID after agreeing to the appraiser's price. Then you will be given a receipt, which you must keep safe because you will be obliged to provide it when renewing and redeeming the pawned goods after you pay off your pawn loan. The pawned item may also be renewed in part through Pag-Asa by paying a portion of the principal. During renewal, you can pay a portion of the principal amount within 25 days of the loan date or add credit to the principal amount based on its appraised value within 3 days of the loan date. The previous owner of the pawned item can also transfer ownership to you.
- Prenda-pasok. This service allows you to buy an auctioned item even if you do not have the necessary finances. The Davao Ros-Ver and New Pag-Asa pawnshops will pawn the purchased auctioned item, and the amount you receive is the selling price less the appraised value. A receipt will then be issued following the agreement on the prenda-pasok purchase price. Always keep the pawn ticket safe because you will be required to present it when renewing and redeeming the pawned goods.
- Auction. The pawnshop lists all the items available for auction on their website, and you need to read the Pages Group Rules before doing any transactions. You can purchase rings, necklaces, earrings, chokers, bracelets, anklets, computers, electronic gadgets, accessories, game consoles, appliances, kitchenware, power tools, and musical instruments.
