FAQ’s - Cash Centre, Lansing

Merchandise Loans

What is a Loan?
Loans are a quick and easy way to borrow money without a credit check or hassle. Loans are based on the value of your collateral, not your credit rating or pay schedule. A typical loan has a term length of 15 or 30 days. If you cannot pay your loan back in full, we offer extensions to give you extra time. You may also choose to surrender your collateral as payment in full.

What is an extension/ renewal?
If you are unable to pay back your loan in full on its due date, you may get a renewal/ extension. That means that you pay the re-purchase option fee on your loan in full and the new due date is set. The principal loan amount remains the same, as does the re-purchase option fee. You may extend the length of your loan as many times as you wish.

Will I lose my goods?
Most of our customers repay their pawn loans and pick up their items. If a customer chooses not to repay the loan, the collateral items are forfeited and are accepted as payment in full. Some customers though choose to sell their unwanted items rather than get a loan.

How do you determine how much an item is worth?
Loan amount is based on the current value of your item. Item’s condition, market value and our ability to resell the item all play a role in determining the price. Our highly trained associates will use all research tools at hand to evaluate item’s value and get you the cash you need or the most they can.

We test all items for their performance. General merchandise is visually inspected and then tested by plugging it in and turning it on. Accessories such as remote controls and original cables all add to the value of an item. Gold & Diamonds are tested using jewelry loupe and electronic testers noting the cut/color/clarity/carat (the 4 C’s). Items in good condition usually get appraised at higher value. We will also buy any broken gold jewelry.

How do you determine the price of gold, silver or platinum?
The price of commodity is based on current market values. Prices can fluctuate greatly due to unstable economy and market conditions.

Can I have more than one loan at the same time?
Yes. You can have unlimited number of loans with Dicker & Deal at the same time.

Can you give me a quote on my item over the telephone?
Unfortunately we cannot provide accurate quotes over the telephone. Loans are greatly based on the condition of an item which is not possible to establish over the phone. The item has to be inspected by one of our associates.

Is the information about my loan secure and confidential?
Yes. All aspects about any transaction are confidential and secure. Dicker & Deal does not share any collected information with any private parties.

Why does the loan amount differ from the retail price?
Loan standards are based on current market value for pre-owned merchandise. The loan amount we are able to give you is based on our ability to resell the item in the future if it is forfeited. Pre-owned items sell for much less than new items therefore they are worth less as collateral. At the same time they are priced accordingly if become available for sale in our store. Our customers enjoy the convenience of being able to trade unwanted items for something else they need.

Is my collateral safe while in loan?
It is our duty to keep all items safe and in a secure area while in loan. It is also our responsibility to keep them in good condition. All accessories brought with the item are kept together in secure area, and will be returned when the loan is paid in full. Our loan inventory is linked with the state of the art computer system that allows us to track all items at any given time.

Can someone else pick up my loan?
Yes, but you must give the name of that person to one of our associates in person rather than over the phone.

Anyone however may pay on your loan on your behalf as many times as needed.

Are second hand stores regulated?
Yes. We are subject to many State, Federal and local laws. State and local authorities strictly regulate all aspects associated with loan transactions.

Are second hand stores stocked with stolen merchandise?
Regardless of what you see on TV and in the movies, second hand stores & pawnshops are the worst place to get rid of stolen merchandise, and criminals know about that. All items obtained by Dicker & Deal are processed through an Internet-based crime-fighting tool called Business Watch International, where information on all loans and sold items is shared with police departments nationwide. All items are held for 14 days before cleared by local authorities and only then are available for sale. Each customer is required to present a valid government issued I.D. and be fingerprinted at the time of business.

Payday Loans

What items are required to get a cash advance/payday loan?

.  Valid driver’s license or other state-issued photo ID

.  Checkbook with your pre-printed checks

.  Most recent bank statement

.  Valid phone number and proof of street address

How much money can I get?

As per State of Michigan law, loans from $50 to $600 can be applied for.  You may qualify for a particular advance amount based on your current income.

Is the amount based on my credit?

We do not use traditional credit bureau reports but do verify certain information you provide thru third parties.

What are the fees?

Amt Financed            $100     $200     $300     $400     $600

Fees                         $15.45   $29.45  $42.45  $54.45  $76.45

Can I rollover my advance/payday loan?

Per State of Michigan law, you are not permitted to rollover your advance.

What if I change my mind after getting a cash advance/payday loan?

You may rescind the transaction at no cost by returning to our store no later than the end of the following business day.

What if I can’t repay my loan in full on its due date?

If you are eligible, we can offer you a Repayment Plan which allows you to repay your loan in three payments which the pay dates are based on how often you receive income.  There is $16.13 fee to use the Repayment Plan.

Whether you are repaying in full or through a Repayment Plan, if your check is deposited and is returned by your bank due to insufficient funds, you will be charged a returned check fee, as permitted by state law.  You will be responsible for payment of your account in full, including any returned check charge.

We will work with you to pay your loan in full to the extent allowed by law, but, if necessary and appropriate, we may attempt to collect our debt through various collection methods.

If my account is past due, will I face criminal prosecution?

We do not pursue criminal actions against you if your check is returned unpaid.  However, if necessary, we may seek civil remedies to collect past due accounts.

Can I get a cash advance/payday loan using my Social Security benefits?