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, WI
3 pawn shops in and around Madison — 1.0 per 100,000 residents, compared with 0.8 across Wisconsin. Call ahead to ask what they're buying and lending on today: inventory needs change weekly. Madison ranks #7 of 10 Wisconsin cities with pawn shops by shops per resident.
- Pawn shops
- 3
- Pawn shops per 100k
- 1.0
- Wisconsin: 0.8
- Big-chain shops
- 2
- Payday & loan stores
- 11
- Population
- 308,771
Pawn shops in Madison: addresses and phone numbers
| Pawn shop | Address | Phone | Website |
|---|---|---|---|
| EZPAWNChain | 319 W Beltline Hwy Madison, WI 53713 | (608) 255-9074 | ezpawn.com |
| Pawn AmericaChain | 1753 Thierer Rd Madison, WI 53704 | (608) 241-7006 | pawnamerica.com |
| Rick's Olde Gold | 1314 Williamson St Madison, WI 53703 | (608) 257-7280 | ebay.com |
Pawn shops vs payday loan stores in Madison
Madison has 11 payday, installment and title loan stores but only 3 pawn shops.
Pawn shops
3
1.0 per 100k residents
Payday & loan stores
11
3.6 per 100k residents
8 store chains
Biggest loan store chains in Madison: Check 'n Go (2), OneMain Financial (2), Security Finance (2), Advance America (1), Cash Store (1).
Borrowing $500 for one month: payday vs pawn vs credit union
| Option | How it works | Cost for one month |
|---|---|---|
| Payday loan (~574%+ 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 Madison
- 2.4%
- Pawn cost, share of monthly household income in Madison
- 1.6%
- A $400 emergency equals
- 1.9 days of income
Payday: a typical fee of $75 on a $500 loan for 2 weeks, paid twice for a one-month loan (Wisconsin 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 Wisconsin 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 WI | |
|---|---|---|
| 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 Wisconsin | Pawnbrokers are licensed and regulated by Wisconsin; fees, terms and holding periods are set by state law | Allowed, up to No state limit; typical APR ~574%+ |
Madison at a glance
- Median household income
- $76,348
- Wisconsin: $78,208
- Poverty rate
- 16.9%
- Wisconsin: 10.8%
- Households under $25,000
- 16.1%
- Wisconsin: 13.5%
- A $400 emergency equals
- 1.9 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 |
|---|---|---|---|
| 2103 Zeier Rd Madison, WI 53704 | (608) 249-2613 | — | 5.0 |
| 512 Grand Canyon Dr Madison, WI 53719 | (608) 807-2260 | — | 4.9 |
| 4261 Lien Rd Ste S Madison, WI 53704 | (608) 249-7611 | — | 4.3 |
| 6621 Mineral Point Rd Madison, WI 53705 | (608) 833-1110 | — | 3.6 |
| 2105 Zeier Rd Unit C106 Madison, WI 53704 | (608) 221-4483 | — | 4.8 |
| 6514 Odana Rd Suite 3 Madison, WI 53719 | (608) 827-6300 | — | 4.7 |
| 2616 E. Washington Avenue Madison, WI 53704 | (608) 242-9060 | Mon–Fri 9:00 AM – 5:30 PM Sat–Sun closed |
— |
| 2401 W Broadway Monona, WI 53713 | (608) 226-8800 | — | 4.9 |
| 4100 E Washington Ave Madison, WI 53704 | (608) 888-0730 | — | 4.4 |
| 1 Dempsey Rd #4 Madison, WI 53714 | (608) 866-9988 | — | 2.3 |
| 1783 Thierer Rd Madison, WI 53704 | (608) 716-7985 | — | 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.