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 Bay City, MI
3 pawn shops in and around Bay City — 4.7 per 100,000 residents, compared with 1.6 across Michigan. Call ahead to ask what they're buying and lending on today: inventory needs change weekly. Bay City ranks #5 of 28 Michigan cities with pawn shops by shops per resident.
- Pawn shops
- 3
- Pawn shops per 100k
- 4.7
- Michigan: 1.6
- Big-chain shops
- 0
- Payday & loan stores
- 2
- Population
- 64,507
Pawn shops in Bay City: addresses and phone numbers
| Pawn shop | Address | Phone | Website |
|---|---|---|---|
| Bay City Discount | 715 Washington Ave Bay-City, MI 48708 | (989) 318-7389 | — |
| Golden Tree Pawn | 1570 S Euclid Ave Bay City, MI 48706 | (989) 402-1257 | — |
| Wheeler Dealer Super Pawn Shop | 3865 E Wilder Rd Bay City, MI 48706 | (989) 545-0912 | baycitypawnshop.com |
Pawn shops vs payday loan stores in Bay City
Bay City has 3 pawn shops and 2 payday, installment and title loan stores.
Pawn shops
3
4.7 per 100k residents
Payday & loan stores
2
3.1 per 100k residents
2 store chains
Biggest loan store chains in Bay City: Advance America (1), Check 'n Go (1).
Borrowing $500 for one month: payday vs pawn vs credit union
| Option | How it works | Cost for one month |
|---|---|---|
| Payday loan (~369% APR) | $75.00 fee every 2 weeks, renewed once | $150.00 |
| 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 Bay City
- 3.1%
- Pawn cost, share of monthly household income in Bay City
- 2.1%
- A $400 emergency equals
- 2.6 days of income
Payday: a typical fee of $75 on a $500 loan for 2 weeks, paid twice for a one-month loan (Michigan payday rules are not set in dollars or payday loans are not allowed). Pawn: an example rate of 20% a month; pawn fees and interest are set by Michigan 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.
Pawn loan vs payday loan: the key differences
| Pawn loan | Payday loan in MI | |
|---|---|---|
| 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 Michigan | Pawnbrokers are licensed and regulated by Michigan; fees, terms and holding periods are set by state law | Allowed, up to $600; typical APR ~369% |
Bay City at a glance
- Median household income
- $57,241
- Michigan: $75,812
- Poverty rate
- 16.3%
- Michigan: 13.3%
- Households under $25,000
- 20.7%
- Michigan: 16.1%
- A $400 emergency equals
- 2.6 days of income
Payday and installment loan stores in Bay City
For comparison: storefront payday, installment and title lenders in Bay City with addresses, phone numbers and hours.
| Address | Phone | Hours | Google rating |
|---|---|---|---|
| 3970 East Wilder Road, Suite C Bay City, MI 48706 | (989) 667-5740 | Mon–Thu 10:00 AM – 6:00 PM Fri 9:00 AM – 6:00 PM Sat 10:00 AM – 2:00 PM Sun closed |
— |
| 3900 State Street Rd Ste 220 Bay City, MI 48706 | (989) 671-0039 | — | 5.0 |
Pawn shops near Bay City
More about Bay City
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.