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 Southaven, MS
3 pawn shops in and around Southaven — 5.7 per 100,000 residents, compared with 5.1 across Mississippi. Call ahead to ask what they're buying and lending on today: inventory needs change weekly. Southaven ranks #6 of 8 Mississippi cities with pawn shops by shops per resident.
- Pawn shops
- 3
- Pawn shops per 100k
- 5.7
- Mississippi: 5.1
- Big-chain shops
- 1
- Payday & loan stores
- 1
- Population
- 52,969
Pawn shops in Southaven: addresses and phone numbers
| Pawn shop | Address | Phone | Website |
|---|---|---|---|
| Dabbs Gun & Pawn | 7957 Us-51 Southaven, MS 38671 | (662) 393-6498 | dabbsgunandpawn.net |
| Pawn PlusChain | 7199 Highway 51 N Southaven, MS 38671 | (662) 393-7296 | pawnplusnorman.com |
| Top Dollar Pawn Shop | 9061 Us-51 Southaven, MS 38671 | (662) 393-4455 | shop.topdollar662.com |
Pawn shops vs payday loan stores in Southaven
Southaven has 3 pawn shops and 1 payday, installment and title loan stores.
Pawn shops
3
5.7 per 100k residents
Payday & loan stores
1
1.9 per 100k residents
1 store chain
Biggest loan store chains in Southaven: OneMain Financial (1).
Borrowing $500 for one month: payday vs pawn vs credit union
| Option | How it works | Cost for one month |
|---|---|---|
| Payday loan (~521% APR) | $100.00 fee every 2 weeks, renewed once | $200.00 |
| 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 Southaven
- 3.1%
- Pawn cost, share of monthly household income in Southaven
- 1.6%
- A $400 emergency equals
- 1.9 days of income
Payday: the MS maximum — $100 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 Mississippi 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 MS | |
|---|---|---|
| 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 Mississippi | Pawnbrokers are licensed and regulated by Mississippi; fees, terms and holding periods are set by state law | Allowed, up to $500; typical APR ~521% |
Southaven at a glance
- Median household income
- $76,428
- Mississippi: $57,184
- Poverty rate
- 12.9%
- Mississippi: 19.2%
- Households under $25,000
- 12.7%
- Mississippi: 23.8%
- A $400 emergency equals
- 1.9 days of income
Payday and installment loan stores in Southaven
For comparison: storefront payday, installment and title lenders in Southaven with addresses, phone numbers and hours.
| Address | Phone | Hours | Google rating |
|---|---|---|---|
| 464 Church Rd E Southaven, MS 38671 | (662) 349-0131 | — | 4.7 |
Pawn shops near Southaven
More about Southaven
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.