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Pag-Asa Pawnshop

Advertiser Disclosure

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.

Pag-Asa Pawnshop

FAQ

What is a Davao Ros-Ver and New Pag-Asa Pawnshop?

The Davao Ros-Ver and New Pag-Asa pawnshop is an establishment that offers pawning services for those who need them. Whether you need to sell your jewelry or other precious items or have a few things you want to pawn, this business can help you get what you want.

Who owns the Davao Ros-Ver and New Pag-Asa pawnshop?

The pawnshop is a partnership between the Davao Ros-Ver and New Pag-Asa.

How do you qualify for a Pag-Asa pawn loan?

When applying for the Pag-Asa pawn loan, you must be at least 18 years old, have a valid ID or proof of ID, a linked bank account, and have collateral.

How much interest does the Pag-Asa pawning attract?

Pawning attracts an interest rate of 5% on small items and 6% on larger pawns like appliances and computers.

What is the average approval time for a Pag-Asa pawn loan? 

The average approval time for a Pag-Asa pawn loan is 24 hours.

Is the Davao Ros-Ver and New Pag-Asa pawnshop a legitimate company?

Yes. The Davao Ros-Ver and New Pag-Asa pawnshop is regulated by the Bangko Sentral ng Pilipinas (BSP).

For what period can I take out a Pag-Asa pawn loan?

Davao Ros-Ver and New Pag-Asa pawnshop pawn loans are available for 90 days.

Does the Davao Ros-Ver and New Pag-Asa pawnshop own the collateral for the loan period?

Yes. The pawn is sold at auction if your loan balance is not repaid before the due date.

How is a Pag-Asa pawn loan different from a jewelry loan?

A Davao Ros-Ver and New Pag-Asa Pawn loan is a short-term loan secured by collateral, and the items are not high-end. On the other hand, jewelry loans are unsecured, can last up to five years, and are used to purchase high-end products such as wedding bands, expensive watches, or designer items.

Is solvency confirmation required to receive a Pag-Asa pawn loan?

No. A Pag-Asa pawn loan only requires a document proving your identity and the item as collateral.

Financial products

Pag-Asa Pawnshop
Pawning loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱100,000
Rate
i

Effective interest rate on the product

up to 6% per month
Term
i

Loan term for the financial product

up to 90 days

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 Pag-Asa Pawnshop loan calculator

Calculate loan payments at Pag-Asa Pawnshop. Loans calculator will allow you to calculate an approximate payment schedule for the loan.

Pag-Asa Pawnshop calculator
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