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 West Des Moines, IA
1 pawn shop in West Des Moines — call ahead to ask what it's buying and lending on today.
- Pawn shops
- 1
- Pawn shops per 100k
- 1.4
- Iowa: 1.8
- Big-chain shops
- 0
- Payday & loan stores
- 1
- Population
- 69,831
Pawn shops in West Des Moines: addresses and phone numbers
| Pawn shop | Address | Phone | Website |
|---|---|---|---|
| Gold Guys | 101 Jordan Creek Pkwy Ste 11273 West Des Moines, IA 50266 | (515) 223-1021 | goldguys.com |
Pawn shops vs payday loan stores in West Des Moines
West Des Moines has 1 pawn shops and 1 payday, installment and title loan stores.
Pawn shops
1
1.4 per 100k residents
Payday & loan stores
1
1.4 per 100k residents
1 store chain
Biggest loan store chains in West Des Moines: Advance America (1).
Borrowing $500 for one month: payday vs pawn vs credit union
| Option | How it works | Cost for one month |
|---|---|---|
| Payday loan (~337% APR) | $55.00 fee every 2 weeks, renewed once | $110.00 |
| 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 West Des Moines
- 1.6%
- Pawn cost, share of monthly household income in West Des Moines
- 1.4%
- A $400 emergency equals
- 1.7 days of income
Payday: the IA maximum — $55 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 Iowa 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 IA | |
|---|---|---|
| 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 Iowa | Pawnbrokers are licensed and regulated by Iowa; fees, terms and holding periods are set by state law | Allowed, up to $500; typical APR ~337% |
West Des Moines at a glance
- Median household income
- $84,953
- Iowa: $76,204
- Poverty rate
- 7.3%
- Iowa: 11.1%
- Households under $25,000
- 9.6%
- Iowa: 14.2%
- A $400 emergency equals
- 1.7 days of income
Payday and installment loan stores in West Des Moines
For comparison: storefront payday, installment and title lenders in West Des Moines with addresses, phone numbers and hours.
| Address | Phone | Hours | Google rating |
|---|---|---|---|
| 1821 22nd St., Ste. 104 West Des Moines, IA 50266 | (515) 440-3016 | Mon–Thu 9:30 AM – 5:00 PM Fri 9:30 AM – 5:30 PM Sat 9:00 AM – 12:00 PM Sun closed |
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Pawn shops near West Des Moines
More about West Des Moines
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.