22191 Powerline Road #12b, Boca Raton, FL 33433

Boca Loan Offices: Best Secured Collateral Loan Terms & Interest Rates

Boca Loan Offices: Best Secured Collateral Loan Terms & Interest Rates

best place in boca for collateral loan

Do you need a loan? Want cash immediately? If you live in Boca Raton or the surrounding area and you have fine jewelry, high-end watches, or other luxury items that you can use as collateral, Raymond Lee Jewelers and Diamonds By Raymond Lee offer the best secured loan terms with the lowest interest rates in the area. There are no credit checks, no applications, and we will work with you to create a loan agreement that won’t stress you out! Moreover, there is absolutely no pressure to accept our offer. The evaluation process is entirely free, so there’s no reason why you shouldn’t at least find out what you can get. 

Read on to learn everything about secured loans with jewelry and watches as collateral, our loan process & terms, and why we are the best loan office in Boca Raton. 

raymond lee jewelers is the best place in boca raton for collateral loan

What is a Secured Collateral Loan?

A collateral loan is a type of secured loan that uses collateral as a guarantee of repayment. Collateral refers to any valuable asset, such as fine diamond jewelry, gold, and luxury watches. 

Collateral loans provide a hassle-free way to get cash immediately.

Because you are using collateral as a guarantee for repayment of the borrowed money, there are no credit checks and interest rates are lower.

With unsecured loans, your promise is the guarantee, so a credit check and payroll schedule are required and the interest rates are generally much higher. 

With collateral loans, once the borrower pays back the lender in full, plus any monthly fees associated with the loan terms, the asset is returned to the borrower and the loan agreement ceases. 

If the borrower defaults on the loan, the lender has the right to keep and sell the asset. In this case, the borrower forfeits the collateral as payment in full and the loan ends with no additional recompense. 

That being said, most lenders allow for a pertinent respite as well as the ability to renew the loan agreement and term period, as long as the minimum monthly payment is made. 

As for secured loan interest rates and term periods, the exact details vary from lender to lender and state to state. Some lenders offer lower interest rates and longer term periods than others. Moreover, lenders value assets differently. So, it’s important to choose the lender wisely. 

cash loan for jewelery in boca raton

How do collateral loans work?

The first thing you need to do is find a reputable secured loan office. Do your research. You want to find a lender who offers the highest value with the low interest rates and long, renewable term periods, which is definitely not a pawnshop. 

In Boca Raton, your best options are Raymond Lee Jewelers and Diamonds By Raymond Lee if your collateral is a luxury item.

Evaluation & Loan Offer

Once you decide on the loan office that you want to go with, you meet with the lender at their loan office to have your asset evaluated and appraised. They will make you an offer, for which you can accept or decline. If you accept the offer and the loan terms, you will pledge your assets as collateral to secure the loan.

Upon making the agreement and taking the secured loan, which occurs on the spot with either cash or check, the lender has a lien on your asset. A lien simply means your asset stays in the possession of the lender until the loan is paid in full. 

Loan Term & Monthly Payment

From there, you make monthly payments to the lender until the loan debt is clear. At a minimum, you will be required to pay the interest rate for that month or week (payment periods vary by lenders). The interest rate is calculated by how much you owe, so the more you pay off, the less the interest will be the following payment.

You can always pay off your loan in full at any time. If you pay off the loan when you are halfway through a payment period month, you will only be required to pay half of the interest for that month, although terms may vary depending on the agreement. Be sure to read and understand the loan terms you are agreeing too.

Loan Renewals

If you are unable to pay off the loan by the end of the agreed term period, most lenders will allow you to renew the agreement upon your regular minimum monthly payment.

Term periods vary. They may be as short as 30 days or as long as 10 years or more. Before making an agreement with a lender, it is important that you confirm if a renewal of the loan term is possible or else they may seize your property if the loan isn’t paid off upon completion of the term period.


Now, if you default on a payment, the lender will have the right to seize your property as well. Some lenders will offer you pertinent respite if you speak with them, while others may not. 


All in all, the process is simple. In a nutshell, you provide an asset as collateral for a loan, make your monthly interest payments, pay off your loan, then you can get your asset back. If you stop paying, you forfeit your asset and no other harm is done. 

best place in boca raton for secured loan

Benefits of Collateral Loan

Secured collateral loans offer a lot of benefits over unsecured loans. Here are the main benefits of secured loans using collateral.

1. No Credit Checks

As it is a secured loan using collateral as a guarantee for repayment, there are no credit checks required and the loan will not affect your credit at all, both positively or negatively. This means people with low credit ratings can obtain a loan. Moreover, if you default on the loan, you don’t have to worry about debt collectors garnishing your wages in the near future. Your only loss will be the asset if you fail to make payment. 

So, if you’ve been denied an unsecured loan, a collateral loan is your ultimate guarantee of getting the cash you need now. 

2. Low Interest Rates

Interest rates for secured loans are lower than unsecured loans, as the collateral allows the lender to have less risk. If the borrower defaults on the loan, the only risk the lender has is that they might not be able to sell the asset that was used as collateral. However, lenders are smart with what assets they accept as collateral, so it’s just a matter of time for them to recoup any losses. 

For borrowers, low interest rates mean less stress and worry about paying off the loan and the substantial sum of interest associated with it. 

3. Cash or Check Immediately

Some loans take weeks to come through. Moreover, you won’t even know if you are accepted for the loan immediately. With collateral loans, you will have cash in hand that same day, no questions asked. As soon as you make the agreement, you will be paid. 

Are there any cons to a collateral loan?

The only con to a secure loan is if you don’t make payment or pay off your loan, you can lose the valuable that was used as collateral. 

Why is a Collateral Loan a good option? 

If you have expensive luxury items and you need cash quickly, a collateral loan is a suitable option for you. Unlike selling it, you won’t have to part with it forever. Once you repay the loan, you can get it back. This completely eliminates the dilemma most people have about selling their valuables, especially when they have sentimental value too. As long as you are confident you can pay back the loan over a given period of time, you have nothing to worry about. 

Moreover, you won’t have to deal with credit checks, applications, and all the other hassle that comes with personal loans. Collateral loans are straight-forward and simple. 

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Where can you get a secured collateral loan on jewelry and watches?

There are various loan offices and it really depends on the valuable asset at hand. If you have jewelry, watches, or gold, typically speaking, you have pawnshops and certain jewelry stores that offer collateral loans. We highly recommend choosing the latter. Pawnshops don’t offer good loan terms, the interest rates high and the term periods are low with short renewals if you can get one at all. Furthermore, they don’t offer the same value for luxury assets like jewelry and watches as they aren’t true experts in this field. If you have things like TVs, electronics, etc. then a pawnshop makes sense, but for luxury jewelry and watches, a jewelry store that offers collateral loans is undoubtedly the way to go.

Best Collateral Loan Offices in Boca Raton 

If you live in Boca Raton or the surrounding area, your best option for a secured collateral loan is Diamonds By Raymond Lee and Raymond Lee Jewelers. 

Diamonds By Raymond Lee and Raymond Lee Jewelers is a family-owned business specializing in collateral loans on jewelry and watches, among other luxury items. 

Diamonds By Raymond Lee in Boca Raton
Location: 2801 N Federal Hwy, Boca Raton, FL 33431
Hours: Monday-Friday  10am-6pm, Saturday 10am-5pm, Sunday Closed.
Phone: (561) 623-8205
Email: info@diamondsbyraymondlee.com

Raymond Lee Jewelers 
Address: 22191 Powerline Road #12b  – Boca Raton, FL 33433
Office Hours: 10AM-6PM Monday to Friday; 10AM – 5PM Saturday; Closed Sunday.
Phone Number: 561-750-7808

Raymond Lee Jewelers has been around since the 1980s, developing an outstanding reputation as a jewelry and watch collateral loan lender. You can get on the spot valuations and cash in hand at any time. More importantly, you’ll get the best loan terms, interest rates, and the highest value. 

where to get a collateral loan

Why Diamonds By Raymond Lee and Raymond Lee Jewelers is the best place to get a Collateral Loans in Boca Raton?

  • Certified gemologists & jewelry and watch specialists with over 30 years of experience. You can be sure that the valuation we give you is the right one and the highest in the area. 
  • We provide a pressure-free, private, confidential, safe and secure environment.
  • Best loan terms with the highest value for jewelry and watches. We never lowball and we work with our customers to get them a loan that they are very unlikely to default on. 
  • We are Insured by Jewelers Mutual Insurance, so collateral is entirely safe. Plus, we have a state-of-the-art vault with 24/7 surveillance and armed guards.
  • Our reputation speaks for itself. 

“Couldn’t be more impressed with Raymond Lee Jewelers and their team. They were very easy to work with, offered great advice, not pushy whatsoever, and followed through on every promise! Brandy was an amazing help throughout the entire process! I highly recommend to stop into Raymond Lee to shop for an engagement ring. We have been back many times since and they treat us like family.” – Russ S via Yelp

We have hundreds and hundreds of reviews online, so you can read more for yourself.

What items can we accept as collateral for a loan?

Fine Jewelry (earrings, necklaces, bracelets, bangles, rings)

  • Gold Jewelry
  • Platinum Jewelry
  • Diamond Jewelry
  • Gemstone Jewelry

Designer pieces will be worth more than private label jewelry. Designer pieces that are worth the most include but are not limited to the following: Tiffany, Cartier, Roberto Coin, Chanel, David Webb, David Yurman, Bulgari, Van Cleef & Arpels, Seaman Schepps, Schlumberger, Shreve Crump & Low, Faberge, Fouquet, Garrard, Georg Jensen, Asprey, Boucheron, and Buccelatti.

Luxury Swiss Watches

  • Rolex
  • Audemars Piguet
  • Patek Philippe
  • Blancpain
  • Breitling
  • Breguet
  • Bulgari
  • Cartier
  • Chopard
  • Corum
  • Ebel
  • Franck Muller
  • Gerald Genta
  • Harry Winston
  • Hublot
  • IWC
  • Jacob & Co.
  • Jaeger Le-Coultre
  • Omega
  • Panerai
  • Piaget
  • Richard Mille
  • Roger
  • Dubuis
  • Tudor
  • Ulysse Nardin
  • Van Cleef & Arpels
  • Vacheron Constantin. 

If you have sizable scrap gold, gold coins or bullions or loose gemstones, we may also accept that for a collateral loan. Typically it depends on the amount and the size of the diamonds and precious gemstones. 

We also accept other designer items like handbags and purses! So, if you have a luxury item that you think we would be interested in, contact us or come on in. 

How do you determine the value of the collateral?

Jewelry value is based on the Brand/Manufacturer, Condition, Material, and Gemstones, as well as the Current Market Value.

Designer pieces will have more than intrinsic value, especially pieces with signatures. So you will get a premium on your valuation if you have a designer piece. 

How much is my jewelry worth?

Watch value is based on Brand/Manufacturer, Condition, and Current Market Value. The brands that will land you the most value are Rolex, Patek Philippe, Audemars Piguet, Omega, and Richard Mille. However, mostly all high-end Swiss watches will be accepted, so long as they are in good condition.

How much is my watch worth?

collateral loan using my watch at raymond lee jewelers

Raymond Lee Jewelers & Diamonds By Raymond Lee in Boca – COLLATERAL LOAN PROCESS

Our process is very simple, here is a step by step breakdown of the process…

Step 1: Bring your jewelry and/or watch to Raymond Lee Jewelers and Diamonds By Raymond Lee to have our expert appraiser evaluate your collateral. Everything is handled in our private office on-site right in front of you. 

Do you need to make an appointment? You can if you want but you don’t have to! Just come on in anytime during our office hours. 

Step 2: We explain the value of the item(s) at hand and let you know the maximum amount we can loan you. Any questions you have about the value can be asked. Don’t be shy!

Step 3: We discuss loan terms and interest rates. The loan terms are negotiable, as we want to make sure your life won’t be negatively affected by the loan. So, we will work with you to come to a fair agreement.

If you don’t accept the value we offer or the loan terms, there is no pressure to move forward and you can walk away. The evaluation is entirely free. 

Step 4: If you accept our loan terms, we ask you to present a valid, government-issued photo I.D. so we can enter it into our computer system with the description of the item(s). 

No credit check! No application needed! 

Step 5: A signed contract and pledge receipt are produced and the cash is handed over to the borrow immediately. We can also write you a check which can be deposited at your convenience. 

And that’s it!

How long does the process take?

The process is quick. Our appraisers know jewelry and watches like the back of their hand so they can come to a valuation quickly. That being said, if you are bringing in many items, the process can take some time as we will have to evaluate each individual piece. 

Where will my collateral be held?

We take possession of the collateral, keeping it in our state-of-the-art vault, which includes 24/7 surveillance and alarms. Furthermore, your collateral will be fully insured, so there is absolutely nothing to worry about. 

When can I get my collateral back?

When the loan is fully paid off, you can return to our loan office at either Raymond Lee Jewelers or Diamonds By Raymond Lee to pick up your valuables. 

Raymond Lee Jewelers & Diamonds By Raymond Lee in Boca – COLLATERAL LOAN TERMS

Our loans are made to allow repayment to be easy. That way clients won’t have to struggle with their finances. The last thing we want is your quality of life to suffer just so you can keep paying off your loan. Therefore, we will work with you to find a loan agreement that is suitable for you.

Here are some key points to consider. 

  • Long terms range from 60 days up to 10 years.
  • Minimum monthly payment is the interest rate. 
  • You can pay off the loan at any time and get your collateral back immediately.
  • We offer loan renewals at no additional fee and with no penalties. All you have to do is pay the minimum monthly fee.
  • Interest rates will depend on your collateral value, loan terms, and personal situation. However, APR will never exceed 35%.
  • There are no financial implications. If payment isn’t made, the loan simply defaults.
How do I make payments for my loan?

We accept credit and debit cards, ACH transfers, PayPal, and cash in person.

How do I know when to pay for my loan?

We send an SMS or email when your payment is due each month. 

raymond lee jewelers secured collateral loan

“Should I get a collateral loan?”

If you need cash fast and you are confident you can pay back the loan, then there is no reason not to come in and see what you can get for your luxury item and discuss loan terms. There’s nothing to lose as the evaluation process is completely free. 

If you have valuable jewelry or watches with sentimental value or you simply don’t want to sell them, a collateral loan is a great choice to get the cash you need.

On the other hand, if you are fine to part ways with your jewelry or watch, as maybe you don’t wear it anymore, selling it to us might be the better option. In any case, you can come in to see what we will offer you. You can also call us to get a general idea, but we will need to see it in person to be sure. 

Want to get a collateral loan for your luxury items in Boca Raton? Contact us with any questions you may have

Don’t hesitate to call us or come into our showroom if you want to get started on a loan.

Diamonds By Raymond Lee in Boca Raton Loan Office

Location: 2801 N Federal Hwy, Boca Raton, FL 33431
Hours: Monday-Friday  10am-6pm, Saturday 10am-5pm, Sunday Closed.
Phone: (561) 623-8205
Email: info@diamondsbyraymondlee.com

Raymond Lee Jewelers Loan Office

Address: 22191 Powerline Road #12b  – Boca Raton, FL 33433
Office Hours: 10AM-6PM Monday to Friday; 10AM – 5PM Saturday; Closed Sunday.
Phone Number: 561-750-7808


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