FAQ – Frequently Asked Questions
What can be pledged?
With us you can pledge gold and silver jewellery, diamonds, bars, coins, luxury watches and other valuable jewellery. We also lend musical instruments and, if not too old, kitchen appliances, household appliances, consumer electronics (television, audio and hi-fi, consoles, video…), mobile phones, tablets, laptops, cameras and accessories and much more…..
The precondition for all pawns is that they are in your possession and must be paid in full. If you are not sure whether you can pledge your item with us, please feel free to contact our colleagues in the local branches where they will be happy to help you.
What are the prerequisites for taking out a pawn credit?
In addition to the item you wish to pledge, you must also bring an official ID with photo. Of course, data protection is very important to us and your data will not be passed on to third parties.
When do I receive the cash payment?
The deposit is expertly assessed on site and the loan is paid out immediately in cash. For this purpose, you will receive a pawn ticket, which you should keep safe.
How is the amount of the loan calculated?
The estimate is based on the expected proceeds from an auction.
Jewellery is weighed, the precious metal content measured and the size and quality of diamonds checked. Technical equipment is checked in the branch for functionality and condition. We can pay you a higher loan on equipment in mint condition and well maintained.
When do I have to repay the loan?
The legal deadline for repayment is 3 months, but your deposited item will be auctioned after 6 months at the earliest if you do not collect it. You have the option of paying your interest and fees after the expiry of the deadline, so that the term is extended by a further period of 3 months. Repeat this process as often as desired.
How much is the monthly interest and fee?
For each month started, 1% interest on the loan amount will be charged. In addition, there is a fee for safekeeping and insurance of the pledged item, the amount of which depends on the amount of the loan. The amount of the fee is based on the table prescribed by law:
- 1.00 € per month for a loan up to and including 15.00 €
- 1.50 € per month for a loan up to and including 30.00 €
- 2.00 € per month for a loan up to and including 50.00 €
- 2.50 € per month for a loan up to and including 100.00 €
- 3.50 € per month for a loan up to and including 150.00 €
- 4.50 € per month for a loan up to and including 200.00 €
- 5.50 € per month for a loan up to and including 250.00 €
- 6.50 € per month for a loan up to and including 300.00 €
However, we offer loans up to 15.00 € at much cheaper rates:
- 0.20 € per month for a loan up to and including 3.00 €
- 0.40 € per month for a loan up to and including 6.00 €
- 0.70 € per month for a loan up to and including 9.00 €
- 0.85 € per month for a loan up to and including 12.00 €
For a loan starting from 300.00 € we will charge a fee of 3% of the loan amount. The monthly interest and fees are also recorded on your pawn ticket. Please also use our pawn loan calculator to calculate the amount of your interest and fees.
Is there a check for Schufa (Credit Investigation Company) rating?
No, you will not be checked for any rating by Schufa.
What shall I do if I lose my pawn ticket?
The pawn ticket is a very important document, which you should keep safe at all times. The pawn ticket entitles you to return the pawn, so anyone in possession of your pawn ticket can redeem your pawn. Please notify us immediately if the pawn ticket is lost. We set a blocking notice in the system so that no unauthorized person can redeem your deposited item. You can then redeem your deposit on presentation of your identification card.
What about data protection?
Your data will of course be treated confidential in accordance with the legal regulations.
What happens if I do not redeem my pawn in time?
The advantage of a pawn credit is that you are not liable with your private assets, but only with your pledged item deposited with us. If you are not in a position to redeem your pledged item or fail to do so, your item will be put up for public auction. Any surplus amount is available for collection from us for a period of three years, and any loss is borne by the pawn credit institute. If you do not collect your surplus amount, it will be transferred to the tax authorities of the respective country.
Can I extend the loan?
Yes, you can extend your loan for another 5 months after the end of the initial 5 months. All you have to do is pay the interest and fees incurred up to that point. You can repeat this until you want to redeem your deposited item.
How expensive is an extension?
In the event of an extension, the interest and fees accrued up to that point shall be due. You can see the amounts on your pawn ticket.
Can I extend the loan by mail or telephone?
An extension by telephone is unfortunately not possible, since the interest and fees accrued up to then must be paid. We do not recommend an extension by post, as we do not assume any liability for lost money by post.
Can someone else redeem or extend my pawn?
Anyone in possession of your pawn ticket can redeem or extend the pawn. Keep your pawn ticket safe and contact us immediately in case of loss. We set a blocking notice in the system so that no unauthorized person can redeem your deposited item. You can then redeem your pledged item on presentation of your identification card.
Is instalment payment possible?
There is no provision for instalment payment in the pawn credit business. However, the following is possible:
You can pay the interest and fees applicable under the existing pawn credit agreement and at the same time deduct part of the loan. A new pawn ticket will then be issued with a correspondingly lower loan amount. In this way, it is possible to pay off the loan bit by bit until the pledge can finally be fully redeemed.