Skip to content
NOWCAST WVTM 13 6am Newscast
Watch on Demand
Advertisement

Alabamians pawning items to buy gas, pay bills shop owners say

Alabamians pawning items to buy gas, pay bills shop owners say
THE GOAL MOVING FORWARD IS SEEING GROWTH MODERATE TO ALLOW SUPPLY CATCH UP, WHETHER THAT’S SUPPLY OF WORKERS OR SUPPLY CHAINS. GUY: IN THIS ECONOMY, PAWN SHOPS HAVE BECOME A DESTINATION FOR QUICK CASH. WITH RISING FUEL PRICES AND HIGH INFLATION, LOCAL SHOP OWNERS SAY MORE PEOPLE ARE SELLING THEIR BELONGINGS. WVTM 13’S MATTIE DAVIS JOINS US LIVE. MATTIE, WHAT ARE PAWN SHOP OWNERS SAYING? MATTIE: OWNERS WHO HAVE BEEN IN THE BUSINESS FOR A LONG TIME SAY THEY REALLY HAVEN’T SEEN ANYTHING LIKE THIS, THE NUMBER OF PEOPLE PAWNING INCREASING BY THE DAY. AS PRICES OF NEARLY EVERYTHING, INCLUDING GAS, PUT A STRAIN ON CENTRAL ALABAMIANS, MANY ARE TURNING TO PAWN SHOPS FOR HELP. WE WENT AROUND TO SEVERAL AREA PAWN SHOPS, AND OWNERS SAY PEOPLE ARE PAWNING TO PAY FOR EVERY DAY NECESSITY. >> WE PROVIDE A SERVICE THAT HELPS PEOPLE GET BY ON SHORT TERMS. MATTIE: GENE PAUL, OWNER OF DELTA PAWN, HAS BEEN IN THE BUSINESS FOR NEARLY 20 YEARS. HE SAYS BUSINESS NOW IS SIMILAR TO WHAT HE SAW DURING THE 2008 RECESSION. >> HOWEVER, THIS TIME A LOT OF PEOPLE HAVE ALREADY GONE THROUGH THEIR JEWELRY BOX, AND THERE ARE LESS OPTIONS. MATTIE: AT ANOTHER SHOP, A 12% INCREASE IN PAWNING IN JUST THE LAST MONTH. THEY’RE A PART OF A STATEWIDE CHAIN. ACCORDING TO THE OWNER WHO DIDN’T WANT TO GO ON CAMERA, THIS IS THE CASE AT EACH OF THEIR LOCATIONS. PEOPLE SAYING GOODBYE TO JEWELRY, ELECTRONICS, AND HEIRLOOMS. >> PEOPLE THAT ARE JUST TRYING TO PAY THEIR BILLS AND STILL HAVE JOBS BUT ARE JUST FALLING SHORT. MATTIE: GAS PRICES REMAIN AT ALL TIME HIGH, AT NEARLY $4.50 IN BIRMINGHAM, ACCORDING TO GAS BUDDY. PAUL SAYS HE’S EVEN GOTTEN A CALL FROM ONE CUSTOMER TO THANK HIM FOR GETTING HER THROUGH ANOTHER DAY. >> I AM THANKFUL THAT SHE APPRECIATES MY BUSINESS, BUT I HATE TO HEAR A GOOD PERSON THAT IS TRYING HARD THAT HAS WORKED HARD THEIR WHOLE LIFE THAT IS STRUGGLING SO HARD THAT THEY’RE THANKFUL TO GET $100.
Advertisement
Alabamians pawning items to buy gas, pay bills shop owners say
As prices of nearly everything, including gas, put a strain on Central Alabamians, many are turning to pawn shops for help. Watch the full story above.

As prices of nearly everything, including gas, put a strain on Central Alabamians, many are turning to pawn shops for help. Watch the full story above.

Advertisement