Benefits & Flexibility of a Collateral Loan

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The Christmas season can be an expensive time of year, and you may find yourself in need of some quick cash before your next paycheck comes in. While there are multiple options for sourcing quick cash, they can often be untrustworthy or harm your credit score. With collateral loans from Watch & Wares, however, you can get cash instantly by loaning your valuable items. Collateral loans are a popular option because they offer several benefits and have flexible terms to suit your needs and schedule. 

No affect on finances or credit history 

Many Orange County residents prefer collateral loans because they have no effect on your credit score whatsoever. If you fail to pay back the loan on time, the only repercussion is the loss of the valuable item you pawned. Since we keep this item as repayment of the loan, there is no longstanding debt, continuing interest, or harmful credit effects to worry about after your loan term is up. You also don’t need good financial standing in order to qualify for the loan. Whereas your bank or another lending institution may turn you away due to a low credit score or other ineligibilities, all you need at Watch & Wares is a valuable item that we accept for loans. Whether it’s fine jewelry, a Rolex watch, or precious metals, we accept collateral loans for a wide range of luxury goods.

Lower interest rates

One of the worst parts about needing a loan is the high interest rate that inevitably accompanies it. However, collateral loans have significantly lower interest rates than unsecured loans, minimizing your repayment value. Since secured loans are less risky than unsecured loans, there is a lower APR than with other loan types. Here at Watch & Wares, all of our interest rates are state-regulated, so we’ll never charge you an unfair or inflated rate like other untrustworthy sources.

Generous loan terms

Here at Watch & Wares, we offer extremely generous loan terms that maximize your chances of repaying your loan successfully and redeeming your valuable item. All of our loans are four-month terms with a ten-day grace period. If you need more than the allotted four months, you can renew your loan by paying back the full owed interest rate. Our interest rates are based on the value of the loan, and they’re always state-regulated. If you fail to pay back your loan in full or renew it in the time given, we will keep your collateral as repayment. Our loan terms were created in order to help you repay the loan in a reasonable time frame and keep your valuable item. However, collateral loans are the ideal option even in the worst-case scenario of failing to repay. 

If you need cash fast and have valuable items that you’re willing to temporarily part with, a collateral loan from Watch & Wares is an excellent solution that offers many practical benefits. From low interest rates to generous loan terms and no effect on your credit score, collateral loans are the option that many Orange County residents prefer for sourcing cash fast. To find out more about our loan process or receive an appraisal on your luxury item, visit our Tustin location or give us a call at (714) 731-9600. We would be happy to schedule an appointment for your earliest convenience. We have been serving residents for more than 25 years with 5-star customer service that leaves every patron happy and comfortable with their loan process.

Utilize Watch & Wares Luxury Repair Services

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Watch & Wares is known throughout Irvine and the surrounding Orange County area for buying and selling luxury goods, from Rolex watches to designer handbags. However, we also offer top-of-the-line watch repair, jewelry repair, and handbag restoration services. Our unrivaled craftsmanship and decades of experience make us the jeweler that other jewelers and repair services come to for help. With state-of-the-art tools and equipment, we have the ability to fully repair and restore any of your luxury goods so they’ll look as good as new. 

Watch Repair

No matter how high-end your luxury watch is, it will need to be serviced or repaired eventually. Whether you need your battery replaced or you need extensive repair services, Watch & Wares can handle it all. We’ve serviced and repaired thousands of watches over the last 30 years in business, and we’ve become a trusted source of Rolex watch repair for the local community. Our services include battery replacement, polishing & detailing, full cleaning, new gaskets, and water testing. From antique pocket watches to modern Rolexes, you can trust Watch & Wares to repair and restore your luxury watches to the highest standard.

Jewelry Repair

Watch & Wares offer premier fine jewelry repair that you can trust. Our master jewelry has over 35 years of experience with fine jewelry repair, and he’s the man that other jewelers go to for the answers. Whether it’s creating custom pieces or repairing an antique heirloom, we can realize your vision for any fine jewelry piece. We specialize in vintage jewelry repair, contemporary jewelry repair, jewelry polishing & detailing, and custom jewelry creations. Have your diamond jewelry sparkle like never before with our superior craftsmanship and meticulous attention to detail. We guarantee a perfect result, with flawless quality over our jewelry repair competitors.

Handbag Spa

A designer handbag often becomes your constant companion, going with you wherever you travel. When you use your luxury handbag regularly, it will inevitably begin to show signs of typical wear and tear. When you notice your luxury handbag looking noticeably more worn than the day you bought it, bring it into Watch & Wares for a day at our handbag spa! Our handbag spa restoration services include cleaning, moisturizing, stain protection, edgewear restoration, color touch-up, odor removal, and more. A designer handbag is an investment that requires care and upkeep to ensure that it retains its value for years to come. Whether you have a vintage Chanel or a contemporary Gucci bag, Watch & Wares’ handbag spa services can restore any luxury bag.

Here at Watch & Wares, our team of trained professionals has been performing watch, jewelry, and handbag repair services for decades. We understand luxury, and we always strive to provide the best service in the Irvine area and throughout all of Southern California. We’re confident that you won’t find anyone better to restore your luxury goods, especially at our competitive price point. To receive a free estimate on one of our luxury repair services, stop by one of our Orange County locations or give us a call at (714) 633-2030 today.