Police Ticket Fees are little expenses that pawn shops like to throw in as part of the ‘surcharge’ they have to use for operating in their city. Tempe Pawn and Gold is proud to proclaim itself a pawn shop with Police Ticket Fees as part of their commitment to our customers. But why would we be so proud of such a fee? Read on and we shall explain.
What is a Police Ticket Fee?
According to Arizona Revised Statutes, a police ticket fee is a small surcharge required by the local government of their city. These fees are attached to each pawn ticket when a loan takes place. For some cities, this is required by the city and state to have added on such transactions. As per Tempe City Limit Law, we must also add a police ticket fee as well. The amount is minor but required.
What is the ‘Minor’ Amount?
The Police Ticket Fee Charge is $3.00 per transaction. This is outside of the interest accrued and is attached to the amount to pay back on our pawn loans.
Why Have Such a Fee?
This is to help assist our law enforcement here in the City of Tempe in regards to preventing fraud and theft. This fee is applicable to all pawn loans. But to give you an idea of what works best, the following (but not limited in) items qualify for a pawn loan:
- Electronics (usually the latest version offer the best pay)
- Computers (same as Electronics, the latest give the most)
- and more!
What’s the Big Deal if the Fees are so Small?
Police Ticket Fees are one of the few surcharges that pawn shops rarely speak of, yet will add onto your loan when you least expect it. This is more prevalent the longer you have the loan out. In fact, it’s a part of the interest and surcharges some pawn shops charge in order to KEEP your loan going. Naturally, this is small. To provide an example, in Mesa, Arizona the police ticket fee is approx. $3.50 per transaction. That being said, you do two separate pawn loans (per se), and you end up paying an extra $7.00 total. Naturally, before we even finalize the process, we state the police ticket fee so customers are well aware.
This is also why we encourage the need to pay as soon as possible. The sooner pawn loans are paid back, the fewer fees are in place. This is a vital financial habit to uphold and will benefit in the long run of saving money in the future. With each pawn loan paid sooner, it’s a few dollars saved later. It adds up over time and through this practice, you have more saved up for emergencies.