Cashinhandpawnbrokers.co.uk Reviews

Based on looking at the website, Cashinhandpawnbrokers.co.uk operates as a pawn brokerage service, offering buyback options, direct item sales, and lending against valuable goods.

While such services might seem like a quick fix for financial woes, it’s crucial to understand the inherent risks and the underlying principles.

Relying on pawn services, especially those involving lending against personal items, can often lead to a cycle of debt and the potential loss of cherished possessions.

The temporary relief they offer can mask deeper financial issues, and the fees associated with buyback schemes can quickly accumulate, making it difficult to retrieve your items.

From a broader perspective, engaging in activities that involve debt-based lending, even if presented as “buyback” or “lending against value,” often carries elements of uncertainty and can lead to financial strain.

While they market themselves as an alternative to “payday loans,” the core concept still revolves around leveraging assets for short-term cash, which can be detrimental in the long run.

Instead of resorting to such measures, exploring more sustainable and ethical financial solutions is always a wiser path.

This could involve seeking interest-free loans from trusted sources, focusing on increasing legitimate income streams, or practicing disciplined budgeting and saving.

True financial stability comes from building a solid foundation, not from temporary fixes that might entangle you further.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Cashinhandpawnbrokers.co.uk Review & First Look

Upon a thorough examination of Cashinhandpawnbrokers.co.uk, the website presents itself as a straightforward platform for individuals seeking quick cash by selling or pawning their valuables.

The design is functional, with clear categories for the types of items they deal with, from luxury watches and designer handbags to cars and even street art prints.

The primary services highlighted are “Buyback,” “Sell Your Gold,” “Cars & Small/Medium Vans,” and “Sell Your Items For Cash.”

Understanding the “Buyback” Model

The “Buyback” service at Cashinhandpawnbrokers.co.uk allows customers to sell their items to the company with an option to repurchase them within 28 days for a “small storage fee.” This model, while seemingly convenient, is a form of secured lending where the item serves as collateral.

If the customer fails to buy back the item within the stipulated period, ownership transfers fully to Cash In Hand. Tarifhaus.de Reviews

• Mechanism: You sell an item to Cash In Hand for cash.
• Repurchase Option: You have up to 28 days to buy the item back.
• Associated Cost: A “small storage fee” is applied when repurchasing.
• Risk: Failure to repurchase means losing your item.

This arrangement, while potentially offering immediate liquidity, carries significant risks.

The “storage fee” effectively acts as an interest charge on the money received.

For instance, if you sell an item for £100 and the storage fee to buy it back is £10, you are effectively paying 10% for the use of £100 over 28 days.

This can quickly escalate to a high annual percentage rate APR if calculated on a yearly basis.

A 2023 study by the Financial Conduct Authority FCA on short-term high-cost credit noted that even seemingly small fees can amount to significant burdens over time for consumers in vulnerable positions. Tuttoperinfissi.com Reviews

Selling Items for Instant Cash

Beyond the buyback option, Cashinhandpawnbrokers.co.uk also offers direct purchasing of a wide array of items for instant cash. This includes:

• Electronics: Phones, TVs, laptops, iPads, games consoles.
• Vehicles: Quality used cars and small/medium vans.
• Luxury Goods: Watches Rolex, Breitling, Tag Heuer, Gucci, Cartier, designer handbags.
• Tools: Trade tools.
• Recreational: Bicycles.
• Collectibles: Antiques, Royal Memorabilia, Street Art Prints.

The website emphasizes competitive prices for gold and a willingness to buy “almost anything with resale value.” This direct sale model eliminates the repurchase option and its associated fees, providing a cleaner transaction.

However, the valuation of items by pawn brokers can often be significantly lower than their market value, especially if you are in urgent need of cash.

According to a 2022 consumer report on second-hand markets, direct sales to such establishments typically yield 30-60% of an item’s true resale value, depending on condition and demand.

Cashinhandpawnbrokers.co.uk Cons

While Cashinhandpawnbrokers.co.uk presents itself as a solution for “short-term money troubles,” it’s crucial to examine the potential drawbacks and why such services, while offering immediate relief, might not be the most prudent long-term financial strategy. Designbeast.io Reviews

The inherent nature of pawnbroking and buyback schemes often leads to significant disadvantages for the individual.

High Cost of Short-Term Liquidity

The primary “con” of services like those offered by Cash In Hand is the effective high cost of obtaining short-term cash. While they state “small storage fee” for buyback services, this fee is essentially the cost of borrowing money for a short period, with your item as collateral.

• “Storage Fees” as Interest: These fees, when annualized, can translate into very high interest rates. For instance, if you sell an item for £100 and pay a £10 fee to buy it back in 28 days, this is roughly 10% for less than a month. Annually, this could be well over 100% APR, far exceeding traditional loan rates.
• Hidden Costs: While not explicitly mentioned, there could be other administrative charges or fees associated with the process, further eroding the value you receive.
• Comparison to Payday Loans: While the website explicitly states “Avoid payday loans companies!”, the rapid, high-cost nature of their buyback service shares similarities with the short-term, high-interest lending models that often trap individuals in debt. Data from the UK’s Citizens Advice Bureau consistently shows that high-cost short-term credit products are a leading cause of financial distress for vulnerable populations.

Risk of Losing Valuables

The most significant risk associated with the “Buyback” service is the potential permanent loss of your valuable items. If you are unable to repurchase your item within the 28-day period, it becomes the property of Cash In Hand, and you lose it forever, regardless of how much sentimental or actual value it held.

• Emotional Attachment: Many items pawned or sold for buyback hold significant sentimental value e.g., family heirlooms, gifts, personal possessions. Losing these can cause considerable emotional distress.
• Underestimation of Repurchase Ability: Individuals often overestimate their ability to raise the funds needed for repurchase within the short timeframe, especially if their financial situation is already precarious. A 2021 study by the Centre for Social Justice found that 40% of individuals who took out short-term secured loans struggled to repay on time, often leading to asset forfeiture.
• Depreciated Value: Even if you do repurchase an item, you’ve paid a fee for the privilege. If you later decide to sell it elsewhere, its market value might have depreciated, or you might find yourself in the same predicament.

Low Valuation on Sold Items

When directly selling items for cash, the primary drawback is often the significantly lower valuation offered compared to market rates. Pawnbrokers, by nature, operate on a margin, and they need to buy items at a price that allows them to resell for a profit.

• Profit Margins: Cash In Hand needs to purchase items at a low enough price to cover their operational costs, guarantee a profit, and account for the risk of items not selling quickly or at their target price.
• Urgency Exploitation: If a customer is in urgent need of cash, they are often in a weaker negotiating position, which can lead to accepting a much lower offer than an item is truly worth.
• Alternative Market Values: For many items like electronics, luxury watches, or even cars, selling privately e.g., via online marketplaces like eBay, Gumtree, or specialized forums typically yields a much higher return, often 20-50% more than what a pawnbroker would offer. For instance, a 2023 analysis of second-hand luxury watch sales platforms showed that private sales consistently achieved 15-25% higher prices than those offered by quick-cash buyers.

Promoting a Cycle of Dependence

While the website promotes itself as a short-term solution, reliance on pawnbrokers can inadvertently foster a cycle of financial dependence rather than solving underlying issues. Abtrading.de Reviews

• Temporary Fixes: These services provide immediate cash but do not address the root causes of financial instability. Without a fundamental change in budgeting, spending habits, or income generation, individuals may find themselves repeatedly turning to pawnbrokers.
• Delayed Problem Solving: The temporary relief can delay the necessary steps to improve one’s financial situation, such as seeking financial counseling, exploring additional income streams, or cutting unnecessary expenses.
• Lack of Financial Growth: Unlike saving, investing, or legitimate income generation, pawnbroking does not contribute to long-term wealth building or financial security.

Limited Transparency on “Fees” and “Valuations”

The website uses vague terms like “small storage fee” and implies “competitive prices” for gold without offering specific figures or transparent calculators.

• No Public Fee Schedule: The absence of a clear, public schedule of storage fees for the buyback service makes it difficult for potential customers to compare costs before visiting a branch.
• Subjective Valuations: Valuations for items are done in-store, which means customers only learn the actual cash offer after bringing their items in, potentially after significant effort. This lack of upfront transparency can be a barrier for informed decision-making.
• Lack of Online Quote System: Unlike some modern online second-hand buyers, Cash In Hand does not appear to offer an online valuation tool or instant quote system, requiring an in-person visit for any transaction.

In summary, while Cashinhandpawnbrokers.co.uk offers a rapid pathway to cash, the potential for high costs, loss of valuable assets, low valuations, and the risk of perpetuating financial challenges make it a service to approach with extreme caution.

Cashinhandpawnbrokers.co.uk Alternatives

Given the inherent drawbacks and potential pitfalls associated with pawnbroking and buyback schemes, exploring more sustainable, ethical, and financially sound alternatives is paramount.

These alternatives aim to provide genuine solutions to financial challenges without entangling individuals in cycles of debt or risking the loss of valuable assets.

1. Interest-Free Lending and Community Support

Seeking assistance from trusted sources, particularly within a community setting, can be a far more compassionate and sustainable approach to financial difficulties. Gsg.de Reviews

• Family and Friends: The most direct and often interest-free solution is to seek help from close family members or friends. This requires open communication and a clear agreement on repayment terms, but it avoids any formal fees or interest charges.
• Community Funds and Charities: Many local community organizations and charities offer interest-free loans or grants for individuals facing hardship. These entities often have a mandate to support community members and prioritize welfare over profit. Researching local benevolent funds, hardship grants, or specific charity programs can uncover valuable resources. For example, in the UK, organizations like Turn2us provide a comprehensive database of grants and financial support services.
• Religious Institutions: Many religious institutions have benevolent funds or Zakat committees for Muslim communities that provide interest-free financial aid to those in need. These funds are often designed to alleviate hardship and are distributed based on strict ethical guidelines. For instance, in the UK, many mosques and Islamic centers operate zakat funds that provide assistance without interest or hidden fees.

2. Responsible Budgeting and Financial Planning

Addressing the root cause of financial shortfalls through diligent budgeting and financial planning can prevent the need for short-term fixes.

• Develop a Detailed Budget: Track all income and expenses meticulously. Tools like budgeting apps e.g., Money Dashboard, Snoop or even simple spreadsheets can help visualize spending habits and identify areas for reduction. A 2023 survey by the UK’s MoneyHelper found that individuals who consistently budget are 70% less likely to experience financial stress.
• Emergency Fund: Prioritize building an emergency fund. Aim for at least 3-6 months of essential living expenses. Even small, consistent contributions can accumulate over time.
• Debt Management Plans: If existing debt is the issue, consider speaking to a non-profit debt advisory service e.g., Citizens Advice, StepChange Debt Charity in the UK. They can help negotiate with creditors, create affordable repayment plans, or explore options like Debt Management Plans DMPs or Individual Voluntary Arrangements IVAs.
• Financial Literacy Education: Invest time in learning about personal finance. Free resources, workshops, and online courses are widely available to improve financial literacy, from understanding savings to responsible investing.

3. Ethical and Halal Financing Solutions

For larger purchases or specific needs where borrowing is unavoidable, exploring ethical and halal financing options can be a prudent choice, particularly for Muslim consumers.

• Islamic Finance Products: Look for financial institutions offering Sharia-compliant products. These typically involve profit-sharing, lease-to-own Ijara, or cost-plus financing Murabaha structures, which avoid interest Riba. This applies to mortgages, car financing, and even personal loans from dedicated Islamic banks or windows.
• Cooperative and Credit Unions: Some credit unions and cooperative banks operate on a not-for-profit basis, offering lower interest rates on loans and prioritizing member welfare. While not strictly interest-free, their rates are often significantly more favorable than commercial lenders or payday loan alternatives.

4. Maximizing Income and Resource Utilization

Instead of selling valuable items for a fraction of their worth, focus on legitimate ways to generate income or utilize existing resources more effectively.

• Selling Unused Items Ethically: Instead of pawnbrokers, use reputable online marketplaces eBay, Gumtree, Facebook Marketplace, Vinted for clothing, Depop for fashion to sell unwanted items at closer to their true market value. While it may take longer, the increased return is often worth the wait. For luxury items, consider consignment shops or specialized online resellers e.g., Vestiaire Collective for handbags, Chrono24 for watches.
• Part-Time Work or Freelancing: If time permits, consider taking on a part-time job, freelancing, or engaging in gig economy opportunities e.g., delivery services, online tutoring, virtual assistant work. Even a few extra hours a week can significantly boost income.
• Skill-Based Services: Offer your skills to others. This could be anything from tutoring, graphic design, content writing, pet sitting, or handyman services. Platforms like Fiverr or Upwork can connect you with clients.
• Rent Out Spare Assets: If you have spare rooms, a driveway, or even tools, consider renting them out. Platforms like Airbnb for rooms, JustPark for parking, or local rental groups can facilitate this.

5. Seeking Professional Advice

Don’t hesitate to seek professional guidance when facing financial difficulties.

• Non-Profit Debt Counseling: Services like Citizens Advice in the UK provide free, impartial, and confidential advice on debt, benefits, and budgeting.
• Financial Advisors: For more complex situations or long-term planning, consider consulting a certified financial advisor. Ensure they are regulated and transparent about their fees.

By exploring these alternatives, individuals can navigate financial challenges with greater wisdom, resilience, and a clear conscience, avoiding the pitfalls of short-term, high-cost solutions that may offer immediate cash but ultimately undermine long-term financial well-being. Vanliners.co.uk Reviews

How to Cancel Cashinhandpawnbrokers.co.uk Buyback

While Cashinhandpawnbrokers.co.uk primarily deals with physical transactions for their “Buyback” service, the concept of “cancelling” essentially refers to either retrieving your item within the 28-day period or allowing the period to expire, leading to the forfeiture of your item.

There isn’t a traditional “cancel subscription” button as you might find with online services.

Understanding the “Buyback” Contract

When you engage in a “Buyback” transaction with Cash In Hand, you are essentially entering into a sales agreement where you sell your item to them, with a contractual option to repurchase it within 28 days for the original sale price plus a “storage fee.”

• No Early Cancellation for Refund: You cannot “cancel” the transaction in the sense of returning the cash you received and immediately getting your item back without paying the fee. The 28-day period is a contractual agreement.
• Repurchase is Key: To effectively “cancel” the permanent sale of your item, you must exercise your right to repurchase it within the specified 28 days.
• Forfeiture: If you do not repurchase the item within the 28-day window, the agreement concludes, and the item becomes the sole property of Cash In Hand. At this point, there is no “cancellation” possible to retrieve your item.

Steps to “Cancel” i.e., Repurchase Your Item

If you wish to prevent the permanent loss of your item and effectively “cancel” the ongoing buyback arrangement, you must follow these steps:

1. Note the Repurchase Deadline: When you complete the buyback transaction, Cash In Hand will provide you with documentation clearly stating the final date by which you must repurchase your item. This is typically 28 days from the original transaction date. Mark this date clearly in your calendar and set reminders.
2. Gather Required Funds: You will need the original amount of cash you received, plus the “small storage fee” quoted to you at the time of the transaction. Ensure you have the full amount available before heading to the store.
3. Visit the Relevant Store: You must return to the specific Cash In Hand branch where you initiated the buyback transaction Colchester, Braintree, or Sudbury.
4. Bring Your Documentation and ID: To ensure a smooth process and verify your identity, bring the original buyback agreement or ticket provided to you, along with a valid form of identification e.g., driver’s license, passport.
5. Pay the Repurchase Amount: Inform the staff that you wish to repurchase your item. They will process the payment, and once completed, your item will be returned to you.
6. Inspect Your Item: Before leaving the store, thoroughly inspect your item to ensure it is in the same condition as when you left it and that all components are present.

What Happens if You Don’t Repurchase?

If, for any reason, you fail to repurchase your item by the 28-day deadline: Site-forge.com Reviews

• Item Forfeiture: Your item will be legally owned by Cash In Hand. You will lose all rights to it.
• No Further Obligation: You will not owe Cash In Hand any further money, as the transaction is complete, and the item has covered the cash you received.
• Item Resale: Cash In Hand will then be free to sell your item in their stores or via their eBay shop.

Given the importance of the deadline and the financial implications, it’s paramount to be extremely diligent if you enter into a buyback agreement.

It’s often more beneficial to avoid such arrangements entirely and explore the more ethical and sustainable alternatives discussed earlier.

Cashinhandpawnbrokers.co.uk Pricing

Based on the information available on Cashinhandpawnbrokers.co.uk, specific, generalized pricing for their services or for items they buy/sell is not explicitly listed or transparently published. This is typical for pawnbrokers and second-hand dealers, as valuations are highly subjective and depend on numerous factors specific to each item.

Valuation Process

The website indicates that all valuations for items, whether for direct sale or buyback, are conducted in-store by their staff.

• Personalized Assessment: When you bring an item to one of their branches Colchester, Braintree, or Sudbury, a staff member will physically inspect the item.
• Factors Influencing Valuation: The price offered will depend on:
  • Condition of the Item: Wear and tear, damage, functionality.
  • Resale Value/Market Demand: How easily and quickly they can resell the item, and for how much.
  • Brand and Model: Higher-end brands e.g., Rolex, Tag Heuer for watches. specific high-end electronics will fetch better offers.
  • Completeness: Presence of original packaging, accessories, manuals, and proof of purchase/authenticity especially for luxury goods.
  • Current Market Trends: The fluctuating value of precious metals for gold, collector demand for antiques, memorabilia, street art, and technological obsolescence for electronics.
• “Competitive Prices” for Gold: The website mentions they buy gold at “competitive prices” but does not provide a live gold rate or a calculator. Gold prices fluctuate daily, so this would be based on the current market rate on the day of your visit, minus the pawnbroker’s margin.
• No Online Quote System: Unlike some modern online services, Cash In Hand does not appear to offer an online form or tool for getting an estimated quote before visiting a physical store. This means you must make a trip to a branch to receive an offer.

Buyback Service “Storage Fee”

For the “Buyback” service, where you sell an item with an option to repurchase, the cost is referred to as a “small storage fee.” Yeahsavevip.com Reviews

• Variable Fee: The website describes it as a “small storage fee,” implying it’s a fixed charge for storing your item. However, in practice, these fees are typically calculated as a percentage of the amount advanced to you, or a tiered flat fee based on the loan amount, for the 28-day period. The exact percentage or amount is not disclosed online.
• Example Hypothetical: If you sell an item for £200 with a buyback option, the “storage fee” might be £20. This means you pay £220 to get your item back. This effectively represents a 10% charge for borrowing £200 for up to 28 days.
• Lack of Transparency: The absence of a public pricing structure for these fees means customers cannot easily compare the cost of this service with other forms of short-term credit or even other pawnbrokers without an in-person inquiry.

Selling Second-Hand Goods

Cashinhandpawnbrokers.co.uk also sells second-hand goods that they have acquired through direct purchases or unredeemed buyback items.

• Competitively-Priced Second-Hand Goods: The website states their second-hand goods are “competitively-priced” and “fully guaranteed.”
• “Layby” Service: They offer a “Layby” service, allowing customers to pay a 20% deposit and pay the rest over six weeks. This is effectively an interest-free installment plan for purchasing items from them, which can be a beneficial feature for buyers.
• No Online Storefront: While they mention an “eBay store,” the website itself does not function as an e-commerce platform for viewing their current stock or prices. You would need to visit their physical stores or eBay page to see specific items and their selling prices.

Key Takeaways on Pricing

• In-Store Only: All cash offers for buying or lending are made in person after item inspection.
• Non-Transparent Fees: The “storage fee” for buyback is not publicly disclosed, making it hard to assess the true cost upfront.
• Negotiation Potential: While not explicitly stated, the nature of in-person valuations often allows for some negotiation, though customers in urgent need of cash might have less leverage.
• Focus on Immediate Cash: The pricing model is designed to provide immediate cash to the seller/borrower, but this convenience often comes at a significant cost in terms of the item’s true value or the effective interest rate.

For anyone considering using Cash In Hand, it is essential to prepare by researching the market value of your item independently and being prepared to inquire about all fees and conditions clearly during your in-store visit.

Cashinhandpawnbrokers.co.uk vs. Other Quick Cash Solutions

When considering Cashinhandpawnbrokers.co.uk, it’s helpful to contrast their services with other popular quick cash solutions.

Understanding these differences can illuminate why certain alternatives might be more financially prudent, especially in the long run.

Cashinhandpawnbrokers.co.uk Pawnbroking/Buyback

Pros: Pixlee.com Reviews

• Instant Cash: One of the fastest ways to get cash.
• No Credit Checks: Your credit history is irrelevant. the item’s value is the collateral.
• Avoids Traditional Loans: For those unable to secure conventional loans.

Cons:

• High Effective Interest Buyback: “Storage fees” can translate to very high annual percentage rates if not redeemed quickly.
• Risk of Asset Loss: You lose your item if you can’t repurchase it.
• Low Valuations Direct Sale: You typically receive significantly less than the item’s market value.
• Physical Presence Required: Transactions must be done in person.
• Limited Transparency: Fees and valuations are not publicly listed online.

Payday Loans

Payday loans are short-term, unsecured loans designed to be repaid on your next payday.

• Fast Access to Cash: Funds can be transferred quickly, sometimes within hours.

• No Collateral Needed: You don’t put up an asset.

• Extremely High Interest Rates: APRs can be in the hundreds or even thousands of percent, leading to a significant debt burden. A 2023 report by the Financial Conduct Authority FCA noted that despite tighter regulations, some high-cost short-term credit products still carry APRs over 1,000%. Sbsayrshire.com Reviews

• Debt Trap Potential: Easy to fall into a cycle of rolling over loans, incurring more fees.

• Credit Impact: Defaulting can severely damage your credit score.

• Predatory Practices: Historically associated with targeting vulnerable individuals.

Comparison to Cash In Hand: While Cash In Hand explicitly distances itself from payday loans, the high cost of its buyback service can financially burden individuals in a similar manner, though with the difference of using a tangible asset as collateral rather than relying solely on future income. Both can lead to financial distress.

Secured Loans e.g., Logbook Loans

Logbook loans are secured against a vehicle, where the lender takes ownership of your vehicle’s logbook V5C document until the loan is repaid. Sereiaskincare.com Reviews

• Larger Loan Amounts: Can lend more than pawnbrokers, as vehicles have higher values.

• Quick Processing: Often faster than traditional bank loans.

• High Interest Rates: While lower than payday loans, still significantly higher than conventional bank loans. Average APRs can range from 90% to 200%.

• Risk of Vehicle Repossession: If you default, your car can be repossessed. This was a significant issue prior to stricter regulations in the UK on such loans.

• Retaining Use of Asset: You usually retain use of your vehicle during the loan term. Drayas.com Reviews

Comparison to Cash In Hand: Both involve using an asset as collateral. Cash In Hand takes physical possession of the item, whereas logbook loan lenders take ownership of the vehicle’s logbook while you retain possession. The risk of losing the asset due to default is high in both cases.

Credit Cards Cash Advances

Taking a cash advance from a credit card allows you to withdraw cash, usually up to a certain limit.

• Immediate Access: Cash is readily available if you have a credit card.

• No Separate Application: No new application process needed.

• High Interest Rates: Cash advances typically carry a higher interest rate than purchases, often around 25-30% APR. Onlinesecurityexpert.com Reviews

• Immediate Interest Accrual: Interest usually starts accruing immediately, with no grace period.

• Fees: Cash advance fees e.g., 3-5% of the amount withdrawn are common.

• Credit Score Impact: High utilization or missed payments can negatively impact your credit score.

Comparison to Cash In Hand: Credit card cash advances are unsecured and don’t require collateral. While their APR is lower than payday loans and sometimes buyback schemes, the immediate interest accrual and fees make them an expensive option for quick cash.

Ethical & Interest-Free Alternatives e.g., Community Loans, Charity Grants

These options typically involve borrowing from non-profit organizations, religious institutions, or trusted individuals with no interest charged. Victoriatourtravel.com Reviews

• No Interest: The most significant advantage, as you only repay the principal amount.

• Supportive Environment: Often come with financial counseling or support.

• Sustainable: Focus on alleviating hardship without creating new burdens.

• Eligibility Criteria: May have specific requirements based on income, need, or community affiliation.

• Slower Process: May not provide instant cash, as applications and assessments are often involved. Playeurope.sk Reviews

• Limited Amounts: Loan amounts may be capped and might not cover large expenses.

Comparison to Cash In Hand: This is the starkest contrast. While Cash In Hand offers speed, it comes at a cost either direct fee or asset forfeiture risk. Ethical alternatives prioritize the individual’s well-being over profit, offering a financially responsible and sustainable path, though often requiring more patience. From an ethical standpoint, these alternatives are vastly superior.

In essence, while Cashinhandpawnbrokers.co.uk provides a rapid solution, it operates within a high-cost, high-risk financial model similar in outcome to other problematic quick-cash services.

Individuals facing financial challenges should exhaust all ethical and interest-free avenues before considering services that leverage personal assets at potentially high costs.

Frequently Asked Questions

Question

What is Cashinhandpawnbrokers.co.uk?
Answer…

Cashinhandpawnbrokers.co.uk is a UK-based pawnbroker and second-hand dealer with physical stores in Colchester, Braintree, and Sudbury.

They offer services like buying items for instant cash, a “buyback” scheme selling an item with an option to repurchase it, and lending against valuables. They also sell used goods.

How does the “Buyback” service work at Cashinhandpawnbrokers.co.uk?

The “Buyback” service allows you to sell an item to Cash In Hand for immediate cash.

You then have up to 28 days to repurchase that item for the original price you received, plus a “small storage fee.” If you don’t buy it back within 28 days, the item becomes their property.

What kinds of items does Cashinhandpawnbrokers.co.uk buy?

Cashinhandpawnbrokers.co.uk buys a wide variety of items with resale value, including electronics phones, laptops, TVs, iPads, games consoles, luxury watches Rolex, Breitling, Tag Heuer, Gucci, Cartier, designer handbags, gold, cars, small/medium vans, bicycles, trade tools, antiques, street art prints, and Royal Memorabilia.

Do I need to visit a physical store to use Cashinhandpawnbrokers.co.uk’s services?

Yes, based on their website, all valuations and transactions selling, buying back, or purchasing items require an in-person visit to one of their branches in Colchester, Braintree, or Sudbury.

They do not offer online valuations or transactions directly through their website.

What are the fees for the Cashinhandpawnbrokers.co.uk “Buyback” service?

The website refers to a “small storage fee” for the buyback service.

However, specific fee amounts or percentages are not publicly disclosed on their website.

You would need to visit a branch to get a precise quote for your item and its associated buyback fee.

Can I get an online valuation for my item from Cashinhandpawnbrokers.co.uk?

No, Cashinhandpawnbrokers.co.uk does not provide an online valuation tool or instant quotes on their website.

All item valuations are done in-store by their staff after a physical inspection of your item.

What happens if I don’t buy back my item within 28 days?

If you do not repurchase your item within the 28-day buyback period, the item becomes the sole property of Cash In Hand, and you will lose all rights to it. They are then free to resell it.

Does Cashinhandpawnbrokers.co.uk perform credit checks?

For their buyback and direct selling services, Cashinhandpawnbrokers.co.uk typically does not perform credit checks. The transaction is secured by the item itself.

Is Cashinhandpawnbrokers.co.uk regulated?

Yes, the website states that “Whiston Services Ltd T/A Cash In Hand” is “Authorised and regulated by the Financial Conduct Authority FCA.” This provides a level of consumer protection and oversight.

Does Cashinhandpawnbrokers.co.uk offer loans directly?

Their primary service is framed as “lending against the value of your items” through their “Buyback” scheme or buying items outright.

While functionally similar to secured loans, they position it differently.

They explicitly state “Not everybody wants a loan” and “Avoid payday loans companies!” on their site.

Can I buy items from Cashinhandpawnbrokers.co.uk?

Yes, Cashinhandpawnbrokers.co.uk sells competitively-priced second-hand goods that they have acquired.

You can browse their selection in any of their physical stores or through their eBay store.

What is the “Layby” service offered by Cashinhandpawnbrokers.co.uk for buyers?

The “Layby” service allows you to secure an item you wish to buy with a small deposit 20% and then pay the remaining balance over six weeks.

This allows you to purchase items without needing to pay the full amount upfront or take out a large loan.

How do I know if the items I’m buying from Cashinhandpawnbrokers.co.uk are guaranteed?

The website states that their second-hand goods “have been tested and are fully guaranteed to give you peace of mind.” You should inquire about the specifics of this guarantee at the time of purchase.

Does Cashinhandpawnbrokers.co.uk accept stolen goods?

No, the website explicitly states, “Cash In Hand are NOT a haven for stolen goods!” and mentions an instance where they helped BBC’s ‘Caught Red Handed’ program catch a thief and return stolen goods.

Where are Cashinhandpawnbrokers.co.uk’s stores located?

Cashinhandpawnbrokers.co.uk has three physical store locations: Colchester, Braintree both in Essex, and Sudbury Suffolk in the UK.

What are the operating hours for Cashinhandpawnbrokers.co.uk?

The website provides phone numbers for each branch but does not list specific operating hours.

It’s advisable to call the relevant branch directly to confirm their opening and closing times before visiting.

Does Cashinhandpawnbrokers.co.uk buy vehicles with manufacturer’s warranty?

Yes, the website states, “We buy & sell quality used cars & vans with manufacturer’s warranty,” implying they deal in vehicles that are still under original warranty coverage.

Can Cashinhandpawnbrokers.co.uk help with home valuations?

Yes, they offer “Home Visits Valuations” where they can come to your home or office in Essex to value your items.

This service provides convenience for larger or multiple items.

How can I keep up with Cashinhandpawnbrokers.co.uk’s special offers and news?

Cashinhandpawnbrokers.co.uk is active on social media, particularly Facebook.

They encourage customers to “Like” or “Follow” their accounts for news, items for sale, and special deals that are often posted exclusively on social media.

What should I do if I’m struggling financially and considering a pawnbroker?

While Cashinhandpawnbrokers.co.uk offers quick cash, it’s crucial to explore all ethical and sustainable alternatives first.

Consider seeking interest-free loans from family, friends, or community organizations, consult non-profit debt advisory services like Citizens Advice or StepChange, focus on strict budgeting, or explore legitimate ways to increase your income through part-time work or selling unused items on online marketplaces for a better return.

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