Compare legal limits, fees and the true cost of small loans in your state before you talk to any lender. Compare legal limits, fees and the true cost of small loans in your state.
Pawn Shops vs Payday Loans in Madison, AL
3 pawn shops in and around Madison — 3.3 per 100,000 residents, compared with 4.6 across Alabama. Call ahead to ask what they're buying and lending on today: inventory needs change weekly. Madison ranks #13 of 15 Alabama cities with pawn shops by shops per resident.
- Pawn shops
- 3
- Pawn shops per 100k
- 3.3
- Alabama: 4.6
- Big-chain shops
- 0
- Payday & loan stores
- 5
- Population
- 90,731
Pawn shops in Madison: addresses and phone numbers
| Pawn shop | Address | Phone | Website |
|---|---|---|---|
| Gold Guns and Guitars | 7433 Highway 72 W Madison, AL 35758 | (256) 325-3113 | goldgunsandguitars.com |
| Larry's Pistol & Pawn | 15060 Al Highway 20 Madison, AL 35756 | (256) 260-7000 | pistolandpawn.com |
| The Pawn Shop | 7407 Hwy 72 W Unit C Huntsville, AL 35758 | (256) 858-1139 | — |
Pawn shops vs payday loan stores in Madison
Madison has 5 payday, installment and title loan stores but only 3 pawn shops.
Pawn shops
3
3.3 per 100k residents
Payday & loan stores
5
5.5 per 100k residents
5 store chains
Biggest loan store chains in Madison: Advance America (1), Check 'n Go (1), Lendmark Financial Services (1), OneMain Financial (1), TitleMax (1).
Borrowing $500 for one month: payday vs pawn vs credit union
| Option | How it works | Cost for one month |
|---|---|---|
| Payday loan (~456% APR) | $87.50 fee every 2 weeks, renewed once | $175.00 |
| Pawn loan (example: 20% a month) | You leave an item worth more than the loan; repay to get it back | $100.00 |
| Credit union PAL (28% APR + $20 fee) | Repaid in installments; membership required | $31.67 |
- Payday cost, share of monthly household income in Madison
- 1.8%
- Pawn cost, share of monthly household income in Madison
- 1.0%
- A $400 emergency equals
- 1.2 days of income
Payday: the AL maximum — $87.50 on a $500 loan for 2 weeks, paid twice for a one-month loan. Pawn: an example rate of 20% a month; pawn fees and interest are set by Alabama law and vary by shop — ask for the total in writing. PAL: payday alternative loan from a federal credit union, capped at 28% APR plus an application fee of up to $20. Income: U.S. Census Bureau, American Community Survey.
Pawn loan vs payday loan: the key differences
| Pawn loan | Payday loan in AL | |
|---|---|---|
| What you need | An item of value (jewelry, gold, electronics, tools, firearms) and an ID | A bank account, proof of income and an ID |
| Credit check | None | Usually none |
| How much you get | A fraction of the item's resale value | Based on your income, up to the state limit |
| If you can't repay | The shop keeps the item; no collections and no credit damage | Fees pile up with renewals; the debt can go to collections |
| Bank account access | None | Lender can debit your account or cash your check |
| Rules in Alabama | Pawnbrokers are licensed and regulated by Alabama; fees, terms and holding periods are set by state law | Allowed, up to $500; typical APR ~456% |
Madison at a glance
- Median household income
- $118,679
- Alabama: $65,640
- Poverty rate
- 4.2%
- Alabama: 15.8%
- Households under $25,000
- 6.2%
- Alabama: 20.3%
- A $400 emergency equals
- 1.2 days of income
Payday and installment loan stores in Madison
For comparison: storefront payday, installment and title lenders in Madison with addresses, phone numbers and hours.
| Address | Phone | Hours | Google rating |
|---|---|---|---|
| 7985 Hwy. 72 West, Ste. #6 Madison, AL 35758 | (256) 430-1510 | Mon–Fri 8:30 AM – 5:30 PM Sat–Sun closed |
— |
| 97 Hughes Rd Ste F Madison, AL 35758 | (256) 772-5394 | — | 4.9 |
| 8000 Madison Blvd Ste D107 Madison, AL 35758 | (256) 850-2301 | — | 5.0 |
| 8075 Madison Blvd Ste 109 Madison, AL 35758 | (256) 772-7773 | — | 4.2 |
| 8591 Madison Blvd Madison, AL 35758 | (256) 772-1705 | — | 5.0 |
Pawn shops near Madison
More about Madison
Pawn shop listings: © Overture Maps Foundation (CDLA-Permissive 2.0), including Foursquare OS Places and © OpenStreetMap contributors; filtered and de-duplicated by us. Population, income and poverty: U.S. Census Bureau, American Community Survey. Call ahead to confirm hours and what a shop buys or lends on.