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 Federal Way, WA
4 pawn shops in and around Federal Way — 3.9 per 100,000 residents, compared with 1.8 across Washington. Call ahead to ask what they're buying and lending on today: inventory needs change weekly. Federal Way ranks #7 of 24 Washington cities with pawn shops by shops per resident.
- Pawn shops
- 4
- Pawn shops per 100k
- 3.9
- Washington: 1.8
- Big-chain shops
- 1
- Payday & loan stores
- 3
- Population
- 101,803
Pawn shops in Federal Way: addresses and phone numbers
| Pawn shop | Address | Phone | Website |
|---|---|---|---|
| Cash America PawnChain | 33012 Pacific Hwy S Federal Way, WA 98003 | (253) 838-8929 | find.cashamerica.us |
| Don's Estate Jewelry & Coin | 34507 Pacific Hwy S #1 Federal Way, WA 98003 | (253) 517-5441 | goodoledon.com |
| Elite Pawn | 29130 Pacific Hwy S Federal Way, WA 98003 | (206) 212-6597 | elitepawnfederalway.com |
| Pawn 1 | 32811 Pacific Hwy S Federal Way, WA 98003 | (253) 838-1429 | pawn1.com |
Pawn shops vs payday loan stores in Federal Way
Federal Way has 4 pawn shops and 3 payday, installment and title loan stores.
Pawn shops
4
3.9 per 100k residents
Payday & loan stores
3
2.9 per 100k residents
3 store chains
Biggest loan store chains in Federal Way: Mariner Finance (1), Moneytree (1), OneMain Financial (1).
Borrowing $500 for one month: payday vs pawn vs credit union
| Option | How it works | Cost for one month |
|---|---|---|
| Payday loan (~390% 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 Federal Way
- 2.1%
- Pawn cost, share of monthly household income in Federal Way
- 1.4%
- A $400 emergency equals
- 1.7 days of income
Payday: a typical fee of $75 on a $500 loan for 2 weeks, paid twice for a one-month loan (Washington 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 Washington 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 WA | |
|---|---|---|
| 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 Washington | Pawnbrokers are licensed and regulated by Washington; fees, terms and holding periods are set by state law | Allowed, up to $700 or 30% of income; typical APR ~390% |
Federal Way at a glance
- Median household income
- $85,979
- Washington: $100,769
- Poverty rate
- 12.2%
- Washington: 10.0%
- Households under $25,000
- 12.9%
- Washington: 11.2%
- A $400 emergency equals
- 1.7 days of income
Payday and installment loan stores in Federal Way
For comparison: storefront payday, installment and title lenders in Federal Way with addresses, phone numbers and hours.
| Address | Phone | Hours | Google rating |
|---|---|---|---|
| 31883 Gateway Center Blvd S Federal Way, WA 98003 | (253) 733-3069 | — | 4.7 |
| 31625 Pacific Hwy S A Federal Way, WA 98003 | (253) 941-2274 | — | 4.7 |
| 34512 16th Ave S Ste b Federal Way, WA 98003 | (253) 838-4956 | — | 3.6 |
Pawn shops near Federal Way
More about Federal Way
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.