Pawn shops accept tools that are new or pre-owned if the tool is in good condition and quality. Popular brands like BoschStanley, Dewalt, Kobalt, Hitachi, and Husky built reliable equipment that is most likely to pawn for a fair price. The higher-end tools will fetch you a higher price.
The three main types of tools like Pneumatic tools powered by air, Corded tools powered by electricity, and Cordless tools powered by batteries.
Some of the desirable tools that people often pawn for instant cash include air compressors, nail guns, drills, power saws, routers, and sanders. Here is an easy glance comparison of pawn shop value between power drills and saws.
How Much do Pawn Shops Pay For Tools?
The average pawn price for high-power tool tools will range from $30 to $300. The models with long-lasting and durable materials from top brands like Bosch, Stihl, and DeWalt can fetch you a higher amount for pawning.
For example, a good garden shovel can be pawned for a high price than an old hand tool. Tools like Circular Saws, Wrench Sets, Cordless Drills, And Power Saws are some of the high-demand power tools.
Some of the top tool brands and their corresponding pawn price are mentioned below.
|BRANDS||HIGHEST PRICE||LOWEST PRICE|
A study has shown that about 63% of people are more likely to bring tools and 76% of people bring guns to pawn for a collateral loan. Seattle and Tulsa are cities that are popular for pawning tools and equipment.
You will receive an average collateral loan offer of 81% for power tools and 73% for tools like vacuum cleaners.
Nail guns and Staple guns are the next popular tool that is in high demand at pawn shops. Georgia, Alaska, Utah, Virginia, and South Carolina are some of the states that pawn guns at the highest rate.
The average pawn value for nail guns is around $300 and the maximum prawn price is up to $1300.However, a limited time of 30 to 120 days is given to repay the loan.
|NAIL GUNS||PAWN PRICE|
|Ryobi P320 18V ONE + Airstrike||$79.99|
|Ridgid R35ORH Round Head Framing Nailer||$119.99|
|Milwaukee 18-Volt Cordless Nailer||$219.99|
|Paslode CFN325XP 906300 Cordless Nailer||$279.99|
|DeWalt DCN692 MAX 20V Cordless Nailer||$296.98|
|Hiti DX76 Powder Actuated Nail Fastening Gun||$499.99|
The pawn loan rate differs according to the type of power tools you pawn. It includes high-end power tools, hand tools, or saws.
An average of up to 10% monthly interest will be charged for tools and the pawn broker will lend you 25% to 60% of the item’s resale value.
Let us see the minimum and maximum pawn rates of the popular brands of Saws/Blades, and Drills.
|SAWS/BLADES BRAND||LOWEST RATE||HIGHEST RATE|
|DRILLS BRAND||LOWEST RATE||HIGHEST RATE|
What Tools Get The Most Money At Pawn shops?
The higher-end power tools with top brands like Milwaukee, Snap-On, and Bosch will fetch you more money at pawn shops. The used power tools can earn you a pawn price between $30 to $300 if the tool is in good condition.
For example, the Toolsets of top-quality brands earn you up to $500 by negotiating with your local pawnshop.
|TOOLSET BRANDS||HIGHEST PRICE||LOWEST PRICE|
Some of the Power tools include Drillers, Grinders, Impact Wrenches, Rotary Tools, Oscillating Tools, Powder-Actuated Tools, Shears and Nibblers, Welding and Soldering Tools, Power Saws, Sanders, Heat Guns, and Nail or Staple Guns.
For example, a 4 piece combo Oscillating Tool of a Rigid brand can fetch you a $279.99 pawn price as per the current market value.
|POWER TOOLS||PAWN PRICE|
|DeWalt DCD991P2 Speed Drill Kit||$279.99|
|Milwaukee Cordless Trimmer Blower Combo||$359.99|
|Rigid Round Head Nailer||$119.99|
|Makita XDT11 Cordless Impact Driver||$99.99|
|Matco Tools Impact Wrench||$319.99|
|Hercules HD035B Cordless Sander||$59.99|
Power Saws are the next popular tool item that can get you a fair pawn price for good quality top brands.
|POWER SAWS||PAWN PRICE|
|Makita XSR01 Brushless Cordless Rear Handle||$219.99|
|Milwaukee M18 Fuel Compact Saw||$233.98|
|Bosch CS10 Circular Saw||$62.98|
|Rigid Power Tools Reciprocating Saw||$195.97|
|Crain No 798 Electric Toe Kick Saw||$170.98|
How Do Pawn Shops Determine Price For Tools?
There are several factors that pawn brokers consider before offering a fair price when they receive a tool. They inspect the tool to ensure its authenticity and find out if any damage occurred.
Condition of the tool, Age, Brand, Regional demand, and Mark up are some of the things they consider before offering the price.
The most important aspect is the condition of the tool itself. A tool that is rusted might lower the pawn price whereas a good quality old tool can still fetch you a higher price.
The price of a pawnable tool is also considered by regional demand and the current market value. Regional differences are reviewed when they set the price for the tool.
They will look for the popularity and availability of tools on the used tool market.
The brand is the next factor that pawnshops usually look for when they receive a tool. Even if the tool is a bit old, the popular brand will raise its pawn value. Some brands are known for their durability and long-lasting material.
The best brands include Milwaukee, Bosch, DeWalt, Snap-On, Rigid, Craftsman, Stanley, and Ryobi. A pre-owned branded tool set can increase the pawn price.
Age And Model
The year the tool was made and the model will also determine the price of the tool when pawning. Older tools can fetch you less money than brand-new tools.
To sell your tool for a higher amount at a pawn shop, you need to do a proper cleaning to look it more presentable and keep it in its original package with the manual inside. It helps pawnbrokers to resell the tools easier.
You need to make sure the tools work well by testing them before selling the tools. The broken tools will not be accepted in the shop.
Difference Between Pawning And Selling Tools To A Pawn Shop
Pawning or selling tools is the best method for a quick cash emergency. When you pawn a pre-owned tool in an excellent condition, you will receive 30-35% of the original price of the tool with a 10% monthly interest. Any tools will damaged parts will not be accepted in pawnshops.
When you sell a tool item you can collect more money, especially if the tool is in an excellent working condition, that is, you will get 85-95% of the original price.
For a good conditioned tool, you can get 75-85% of the selling price, and average tools will fetch you 50-75% price. If the tool is in poor condition, it will rarely offer 35% of the original price.
Selling Price Of Tool At Pawnshop Vs. Online Market
It is always reliable to sell your tool items at pawnshops rather than online markets as you can make negotiations directly by talking to the brokers. Online market platforms like eBay, and Craigslist might charge you extra shipping charges for selling your items
Some of the price comparisons of tools on pawnshops and online marketplace are mentioned below.
|Milwaukee Blade Set For Oscillating Tool||$150||$75||$34.99||$20|
|Bosch 11255VSR Corded Hammer Drill||$149.99||$180||$149.99||$390.99|
|Milwaukee Cordless Reciprocating Saw||$339.97||$120||$119.75||$150|
Benjamin is a certified financial advisor, with over 10 years of experience in the industry. He is knowledgeable about various business and financial topics, such as retirement planning and investment management. Ben has been recognized for his work in the financial planning industry. He has also been featured in various publications.