What is a collateral loan? What does it mean?

A collateral loan is a cash loan where your item(s) are used to secure repayment. This means that we will loan you money on your items such as a PS4 for example, and hold it until you repay us. Once you repay your loan we hand you back your belongings.

How long do I have to pay back the loan?

Loans are written for a 30-day term.

What options do I have once my pawn is due?

On or before your due date, you have the option to extend your loan for an extra 30 days or simply pick up your item(s).

What if I am late or cannot afford to pay for my loan on my due date?

If you know you are going to be late we advise you to give us a call and let us know so we can set up a payment arrangement with you.

What happens if I do a pawn and don’t come back to pick it up?

If you don’t come back for your items Swap N Shop legally owns them and will put them out for sale.

What method of payment do you accept to buy back my pawn?

Cash or Debit is accepted to pay for your loan. Only one method of payment is accepted as we cannot split the payment for pick ups or renewals.

Who can pick up a pawn?

Only the person who originally signed for the pawn is eligible to pick up the pawn. We require photo-id in order to release any item from pawn. Anyone can come in on your behalf and pay your renewal only if you choose to leave it with us for another month.

What ID is required to sell or pawn my items to the Swap N Shop?

We require 2 pieces of government issued photo ID to sell/pawn anything. Examples of accepted government issued photo ID are:

  • Indian Status Card
  • Provincial Driver’s License
  • Provincial Photo Card
  • Passport
  • Citizenship Card
  • CSC Release Card

What is the difference between a sale and a pawn?

A pawn is a 30 day contract which gives you the opportunity to get your item(s) back when you pay back the loan. A sale means you are selling the item(s) to us outright, and will be sold right away after a 30 day serial number police check is performed.

What is a title loan? How does it work?

A title loan is a quick and convenient way for people who own their car or motorcycle to get cash. To receive a title loan you must own your car or vehicle outright and have its lien-free title. You can use it as collateral while you continue to drive it or keep it in your possession.

What documents do I need to receive a title loan on my vehicle?

  • Proof of valid driver’s license
  • Seller’s Package from the MTO
  • Ownership of the vehicle
  • Proof of insurance on the vehicle
  • Spare key to the vehicle

What should I do if I have a lot of items to sell?

If you have a lot of items to sell, create a list with names of manufacturers and model numbers and/or pictures of each item you have. Once you have a list, feel free to email it to the store for review. This makes it easier for us to tell you what we are interested in, and can save you from bringing in numerous items that we may not end up buying.

In your e-mail please include;

  • the list of items you have to sell (brand names and model numbers)
  • any pictures you have to show condition of your items
  • how much you are trying to sell each item for
  • your name and phone number

Are there specific items the Swap N Shop does NOT buy?

We buy almost anything but there are a few things that we will not buy. It is always easier to ask us. Some items such as bicycles are seasonal so while we may not be taking them in at that point and time we will tell you when we will begin buying them again.

Do I get a warranty when I buy used items from the Swap N Shop?

We guarantee everything we sell to work properly with our 30-day money back warranty. We test everything before we buy it and we guarantee everything we sell.