Yep! What he's describing sounds exactly like a VM '70s Jazz. The '77 has white pearloid blocks, not black.
$150 is a pretty fair price for a functioning Squier VM, but you might be able to get them down to $125 or $130. In my, albeit limited, experience with pawn shops, they seem quick to discount things with cosmetic issues, despite them being in excellent
working condition. Just be sure to verify the finer points of their return policy.
@Micah D; I don't know if there are any near you, but a local Guitar Center could be another option. They'll ship a bass either to your door or to any store of theirs for pickup for a small fee, usually about $20. Also, they have a decent return policy, something to the tune of 45 days.
Here's a similar instrument that appears to be around the age of the one you're scoping out…
http://www.guitarcenter.com/Used/Squier/Jazz-Bass-Electric-Bass-Guitar-113944034.gc
However, any time I'm thinking of buying a used item from them, I always call the store and ask someone there to see if it's still available and is there any damage/use/wear that could become a problem.