Fees

NOTICE TO THE PUBLIC – PAWN LOAN CHARGES

For the purposes of this notice, the term "month" is defined as a period of time consisting of 30 consecutive calendar days.
per
California Financial Code (CFC) Section 21003

YOU CAN BE REQUIRED TO PAY THESE CHARGES FOR YOUR LOAN

THE CHARGES LISTED BELOW ARE SET IN CALIFORNIA
LAW – THEY ARE FOR LOANS UP TO $2,499.99
1 Loan
Set-Up Fee (per CFC Section 21200.1): It is permissible to charge a fee of 3%, with a $5 minimum, and a maximum of $30.

2 Interest
Charges for the First 3 Months (per CFC Section 21200.5):

The loan period is a minimum of 4 months. You may pay the loan back at any time. You may be charged a fixed interest rate for the first 3 months based upon how much you borrow. If you cannot repay the loan within 3 months, you will be charged additional interest for the 4th and subsequent months.

Loan AmountTotal Interest Charge
$0 – $19.99$3
$20 – $49.99$6
$50 – $74.99$9
$75 – $99.99$12
$100 – $174.99$15
$175 – $2,499.999% of the Loan Amount
3 Monthly
Interest for the 4th and Subsequent Months (per CFC Section 21200):
After the initial 3 months, you will be charged additional interest. These charges can be up to $3 per month for any loan up to $100, or 3% per month for loans that are $101 or more. You may be charged a full month’s interest for any portion of a month used, even if the loan is repaid prior to the end of the month.

Your loan is due on the last day of the the contract period. The loan however, may be extended by mutual agreement between you and the pawnbroker. This agreement must be in writing.

THE INTEREST RATES ON LOANS $2,500 OR OVER ARE NOT REGULATED AND CAN BE NEGOTIATED per CFC
Section 21051
4 Storage
Fee (per CFC Section 21200.6):

You may be charged a fee, per loan contract, to store your item. The fee, based on the item size, is determined by the total number of cubic feet needed to store the item.

Item Size (space needed to store in cubic inches)

Fee

less than 1 cu. ft.$1
1-3 cu. ft$5
3-6 cu. ft.$10
6-7 cu. ft.$20
Each cubic foot greater
than 7 cu. ft.
+ $1
OTHER PERMISSIBLE FEES YOU MAY HAVE TO PAY
5 Ten Day
Notice Fee (per CFC Section 21201.2):

If your loan and interest goes unpaid past the contract, you may be charged a $3 fee for the required 10-day notice. Within 30 days of the end of the expiration of your loan, the pawnbroker will issue you this notice. If you do not pay the loan, interest and charges due as shown on the contract within the 10-day period, all rights, interest and title to the collateral that you have pledged will be transferred to the pawnbroker. The pawnbroker will then own the property and may elect to sell or otherwise dispose of the property. You may request the notice of termination of the loan period be sent by mail, electronically if the pawnbroker offers that service, or by registered or certified mail, with return receipt requested, upon prepayment
of these mailing costs.

6 Lost
Ticket Fee (per CFC Section 21201.1):
The pawnbroker may charge you up to $10 if you lose your pawn ticket.
7 Firearms
Fee (per CFC Section 21200.8):
You may be charged a $4 fee for any firearm you pawn.
8 Redemption
Receipt (per CFC Section 21204):
When the loan is paid in full, the pawnbroker shall provide the borrower with a receipt that correctly states all of the fees and charges paid by the borrower to the pawnbroker.
9 APR The
“Annual Percentage Rate” (interest) includes all of the costs of the loan known to be applicable to the loan at the time the loan is written.
You can use the APR to compare the costs of this loan with other types of loans. The formula for APR is the Interest + Fees and Charges ÷ Amount Loaned ÷ Number of Months of the Loan x
12 x 100.
10 Insurance
(per CFC Section 21201.3): Pawnbrokers do not have a legal obligation to insure your pawned items.

Your item: IS or IS NOT insured.

LOANS – PAWNS

2016 Incremental Rate Chart

AmountGrace
Add Int Calendar Month 120 Day    
LoanedMonth 1Month 2Month 3Month 4PeriodPer MOAPRAPR
5.0014.0014.0014.0017.0023.003.00720%730%
10.0019.0019.0019.0022.0028.003.00360%365%
15.0024.0024.0024.0027.0033.003.00240%243%
20.0032.0032.0032.0035.0041.003.00225%228%
25.0037.0037.0037.0040.0046.003.00180%183%
30.0042.0042.0042.0045.0051.003.00150%152%
35.0047.0047.0047.0050.0056.003.00129%130%
40.0052.0052.0052.0055.0061.003.00113%114%
45.0057.0057.0057.0060.0066.003.00100%101%
50.0065.0065.0065.0068.0074.003.00108%110%
55.0070.0070.0070.0073.0079.003.0098%100%
60.0075.0075.0075.0078.0084.003.0090%91%
65.0080.0080.0080.0083.0089.003.0083%84%
70.0085.0085.0085.0088.0094.003.0077%78%
75.0093.0093.0093.0096.00102.003.0084%85%
80.0098.0098.0098.00101.00107.003.0079%80%
85.00103.00103.00103.00106.00112.003.0074%75%
90.00108.00108.00108.00111.00117.003.0070%71%
95.00113.00113.00113.00116.00122.003.0066%67%
100.00121.00121.00121.00124.00130.003.0072%73%
105.00126.00126.00126.00129.15135.303.1569%70%
110.00131.00131.00131.00134.30140.603.3066%67%
115.00136.00136.00136.00139.45145.903.4564%65%
120.00141.00141.00141.00144.60151.203.6062%62%
125.00146.00146.00146.00149.75156.503.7559%60%
130.00151.00151.00151.00154.90161.803.9057%58%
135.00156.00156.00156.00160.05167.104.0556%56%
140.00161.00161.00161.00165.20172.404.2054%55%
145.00166.00166.00166.00170.35177.704.3552%53%
150.00171.00171.00171.00175.50183.004.5051%52%
155.00176.00176.00176.00180.65188.304.6550%50%
160.00181.00181.00181.00185.80193.604.8048%49%
165.00186.00186.00186.00190.95198.904.9547%48%
170.00191.10191.10191.10196.20204.305.1046%47%
175.00197.00197.00197.00202.25210.505.2547%47%
180.00202.60202.60202.60208.00216.405.4047%47%
185.00208.20208.20208.20213.75222.305.5547%47%
190.00213.80213.80213.80219.50228.205.7047%47%
195.00219.40219.40219.40225.25234.105.8547%47%
200.00225.00225.00225.00231.00240.006.0047%47%
225.00253.00253.00253.00259.75269.506.7546%47%
250.00281.00281.00281.00288.50299.007.5046%47%
275.00309.00309.00309.00317.25328.508.2546%47%
300.00337.00337.00337.00346.00358.009.0046%47%
325.00365.00365.00365.00374.75387.509.7546%47%
350.00393.00393.00393.00403.50417.0010.5046%46%
375.00421.00421.00421.00432.25446.5011.2546%46%
400.00449.00449.00449.00461.00476.0012.0046%46%
425.00477.00477.00477.00489.75505.5012.7546%46%
450.00505.00505.00505.00518.50535.0013.5046%46%
475.00533.00533.00533.00547.25564.5014.2546%46%
500.00561.00561.00561.00576.00594.0015.0046%46%
525.00589.00589.00589.00604.75623.5015.7546%46%
550.00617.00617.00617.00633.50653.0016.5046%46%
575.00645.00645.00645.00662.25682.5017.2546%46%
600.00673.00673.00673.00691.00712.0018.0046%46%
625.00701.00701.00701.00719.75741.5018.7545%46%

OVER

2016 Incremental Rate Chart – Page 2

650.00729.00729.00729.00748.50771.0019.5045%46%
675.00757.00757.00757.00777.25800.5020.2545%46%
700.00785.00785.00785.00806.00830.0021.0045%46%
725.00813.00813.00813.00834.75859.5021.7545%46%
750.00841.00841.00841.00863.50889.0022.5045%46%
775.00869.00869.00869.00892.25918.5023.2545%46%
800.00897.00897.00897.00921.00948.0024.0045%46%
825.00925.00925.00925.00949.75977.5024.7545%46%
850.00953.00953.00953.00978.501007.0025.5045%46%
875.00981.00981.00981.001007.251036.5026.2545%46%
900.001009.001009.001009.001036.001066.0027.0045%46%
925.001037.001037.001037.001064.751095.5027.7545%46%
950.001065.001065.001065.001093.501125.0028.5045%46%
975.001093.001093.001093.001122.251154.5029.2545%46%
1000.001121.001121.001121.001151.001184.0030.0045%46%
1050.001175.501175.501175.501207.001241.5031.5045%45%
1100.001230.001230.001230.001263.001299.0033.0044%45%
1150.001284.501284.501284.501319.001356.5034.5044%45%
1200.001339.001339.001339.001375.001414.0036.0044%44%
1250.001393.501393.501393.501431.001471.5037.5043%44%
1300.001448.001448.001448.001487.001529.0039.0043%44%
1350.001502.501502.501502.501543.001586.5040.5043%43%
1400.001557.001557.001557.001599.001644.0042.0043%43%
1450.001611.501611.501611.501655.001701.5043.5042%43%
1500.001666.001666.001666.001711.001759.0045.0042%43%
1550.001720.501720.501720.501767.001816.5046.5042%43%
1600.001775.001775.001775.001823.001874.0048.0042%42%
1650.001829.501829.501829.501879.001931.5049.5042%42%
1700.001884.001884.001884.001935.001989.0051.0041%42%
1750.001938.501938.501938.501991.002046.5052.5041%42%
1800.001993.001993.001993.002047.002104.0054.0041%42%
1850.002047.502047.502047.502103.002161.5055.5041%42%
1900.002102.002102.002102.002159.002219.0057.0041%41%
1950.002156.502156.502156.502215.002276.5058.5041%41%
2000.002211.002211.002211.002271.002334.0060.0041%41%
2100.002320.002320.002320.002383.002449.0063.0040%41%
2200.002429.002429.002429.002495.002564.0066.0040%41%
2300.002538.002538.002538.002607.002679.0069.0040%41%
2400.002647.002647.002647.002719.002794.0072.0040%40%

~ The interest rate on loans over $2,500.00 are not regulated and can be negotiated between the Client and the Pawn Broker. The State loan period, all fees, and notice requirement still apply.
~ Compensation on loans for the first four months consists of the interest + contract fee + storage fee.
~ The APR is calculated on the amount of compensation due at the end of 4 months.
~ The grace period includes an additional interest charge for the 5th month + a notice fee.
~ This chart is only accurate for loans that do not include firearm fees and storage fees 1 cu ft. or larger.
~ The APR calculation is based on the formula of interest + fees divided by the amount of the loan divided by the length of the loan x 12 x 100.

This information has been provided to members of CAPA as a courtesy. It is not intended to be and should not be depended on as legal advice. It is important that all members consult with their own attorney and accounting professional to confirm the accuracy and legality of the information provided prior to using it. These documents replace all previously published versions. CAPA does not endorse, support or recommend continued use of any other versions of this information. This information is not designed to be all inclusive and summarizes the law in some instances.