You need money immediately? In the past, many people went to a pawn shop or pawn shop so they could pledge their valuables for quick money. Often this was because they could not qualify because of low credit. Today, there is a pawnshop and pawn shop online for fast money against a deposit . We would like to explain how it works and what the pros and cons of a mortgage loan are. We think there are plenty of other ways to borrow money quickly when you need extra money. For example, there is a loan with immediate payment.
What is a pawnshop?
A pawn shop is a company where you can mainly pledge valuable things . These are available in many places. You can even find pawn shops online. The pawnbroker may give between 25% and 50% of the product value here . This would be about the same if you were to sell the product. If you mortgage your product, it will remain your property. You can take back your valuables after 3 months. Even with a mortgage loan interest will be charged. For a loan of 300 euros, 1% interest is required. For higher amounts you can expect about 2% interest.
What does a pawnshop take on money?
Pawn shops all have different specialties. There are Pfandlei houses that are mostly specialized in cars, jewelry or electronics . Jewelry and antiques are often pledged for extra money . Normally you can best go with these articles:
- Gold, silver and brilliant jewelery
- pearl jewelry
- Furnishings or decorative articles of silver
- Silver or silver plated cutlery
- collectors porcelain
- Art objects
- color TV
- Cameras and accessories
- Gold and silver coins (even whole collections)
- Musical instruments
… and much more! The articles should of course be in good condition and complete. Equipment must be complete and fully functional when the product is tested. Technical devices can only be accepted with the corresponding operating instructions.
How does it work?
Today, pawn shops are about the same as a bank. The pawnbroker appreciates the value of the item to be pledged, pays the money and creates a pawn rental contract. After the term of the contract – usually after 3 months – you can take back your pledged property. However, you have to pay the interest and fees. If you still can not pay back, it is possible to extend the contract for an additional fee. If you have not repaid or renewed within 4 months, these items will be auctioned off or sold by the pawnbroker and lose your belongings.
You urgently need money, but would rather not mortgage anything? This works out!
It is of course very convenient that you can lend money quickly by pledging things. However, you will never receive the full amount you would like to borrow. And would not it be much nicer to keep your valuables and have them at home, where they belong? Thanks to the emergence of loans such as mini and small loans, you no longer need to go to a pawn shop to get extra money. The loans of Sutpen family can be applied for without Schufa Anyone over the age of 18 resident in Germany and with a fixed monthly income of 700 Euro net can qualify for it. So you do not have to give up your valuables and you can still borrow extra money up to 600 euros for 15, 30 or 60 days. You decide how much you want to borrow, and for how long. Know more about our alternative for mortgage loan? Take a look at our mini loan page.