A Smart Guide to Getting Cash Loans for Diamonds

Why Diamonds Are Important:

The Diamond is the hardest element on earth. For this reason there are many more useful applications for these precious gems than sparkling on the crowns of queens and leaving women breathless as the man of their dreams slips one on their ring finger. They make the best tools for cutting glass, are crucial in keeping aircraft windshields from icing over and are indispensible for many industrial products such as drill bits and abrasives.

Fun Facts about Diamonds:

• The biggest rough diamond weighs in at 3,100 carats.
• France implemented a law during the 13th century declaring that only kings may wear diamonds.
• In order for a diamond to burn it must be heated to 1,292 degrees Fahrenheit.

Why Use Diamonds to Get Cash Loans?

Even though during tough financial times it is necessary for people to seek a source of immediate cash they may not want to part with valuable diamonds on a permanent basis. Often times a diamond represents so much more than a valuable gemstone. It can hold special meaning that can’t be replaced by a dollar amount. For this reason some jewelry dealers will offer an alternative in the form of a collateral loan. Getting cash loans for diamonds can have many benefits including low rates, renewable interest, no credit check, immediate payment and no-recourse debt.

How to Get Cash Loans for Diamonds:

Diamonds that are offered as collateral are appraised by the jewelry dealer and then a short term cash loan is agreed upon. The diamonds are then stored by the dealer in a secure vault for the period during which the collateral loan is repaid. The terms of the loan are usually straight forward and a reliable dealer will provide borrowers with low rates and renewable interest. Cash payment is immediate and loans can typically be rewritten by paying the accrued interest owed. If the loan can not be repaid for any reason it is considered no recourse debt, meaning it will not be reported to a credit agency and never needs to be repaid upon forfeiting the collateral diamonds.
Important Things to Remember when Getting Cash Loans for Diamonds:

• Finding a reliable jewelry dealer that is well trusted is the first order of business when looking to get cash loans for diamonds. A reputable dealer will keep the loan confidential and give an appropriate appraisal for the diamonds. They will also offer low interest rates on a collateral loan and enable a client to pay off their debt within a comfortable time-frame.

• The amount lent is most always dependant upon the wholesale value of the diamonds pledged with the resell price also taken into consideration.  The amount paid for the diamonds is not usually a factor due to high markups.

Getting cash loans for diamonds is a reliable way to get an immediate cash loan that does not require a credit check and is no recourse debt. It makes good sense for people who do not want to sell their diamonds but still need a cash resource. It is important to choose a dealer who will accurately appraise your diamonds and provide low interest rates. Knowing a buyer is reputable is one way to be assured of getting the best deal when getting cash loans for diamonds.

At David Levis and Sons Jewelry Buyers we believe in getting you the best cash loans for diamonds possible. We are the premier Jewelry Buyers in San Diego and pay more than anyone else for your gold, silver, platinum, diamonds, jewelry, watches and coins.  Contact us now to schedule an appointment or call us at (619) 238-9100.