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Whitey's Pawn and Tool in Sand Springs has been in business for 40 years. They've seen the cost of inflation and the way it leads to more customers.
"We see a lot of influx of people needing money for gas to get to work every week because they've got money through Wednesday, but they need to go to work Thursday and Friday; they need an extra 20 to $50 to go to work," explained Ivan White, Whitey's Pawn and Tool. "It also includes people needing car payments, and house payments are just getting behind right now."
White says customer flow has gone from 8 to 10 loans a day to sometimes 16.
"Like yesterday, we pawned probably 6 or 7 guns. Had lots of jewelry. Pawned yesterday different tools," said White. "But people are putting their wedding rings or gold bands or stuff like that to make ends meet."
Customers in Need
Layton Harmon came into the store carrying a gun in a case. He offered it as collateral for a loan.
"The gas prices are killing me. That's the main thing," he said.
And it isn't the first time Harmon says he has come to Whitey's for help.
"Helps you out when I struggle. And when I need something. And I can always come here. You know, the idea of my gun being safe, that's a good thing too," said Harmon, who said he is on a fixed income.
Increased Inventory
While Whitey's provides fast short-term loans, they have also seen a spike in their own inventory.
"It's a high time for pawns, and sales are down. And then when sales are up, pawns are down because people got money. So it's hard to get both of them going at the same time," said White.
He says now is a good time for buyers looking for a great deal. With more inventory, he is inclined to make a bargain to keep his cash flow going.
