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In the early 2000s, in pawn shops in Texas, it was definitely from the loans, and especially the long-term loans. The pawn shops all hated selling the defaulted items, and if they thought someone was just pawning for cash with no intention of making payments on the loan, they would lowball him even more than normal to try to get him out of the store and avoid the hassle. They had central warehouses where they had to send stuff to be sold because people in the neighborhoods by definition didn't buy things. This was right when eBay was becoming the better place to sell a lot of that stuff though, so the internet may have changed the balance since then.
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