ALL ABOUT PAWN LOANS - CASHY

SHORT-TERM BRIDGING WITH FAST PAY OUT

If you need money quickly and want to avoid bureaucratic hurdles, a pawn loan may be the right solution for you. All you need to take out the loan is collateral and an official photo ID. You will receive your money immediately in cash or as a quick transfer via PayPal or to your bank account.

Would you like to know how much money you can borrow for your collateral? Call up CASHY's live offers for over 60,000 items and cars around the clock and get an immediate overview.

WHAT IS A PAWN LOAN?

A pawn loan is nothing more than a loan against tangible assets. This means that you offer collateral from your property as security in order to borrow money. The possible loan amount depends on the current market value of your item or car. Therefore, a pawnshop does not require any further collateral to grant a loan.

YOUR PAWN LOAN FROM YOUR POCKET

The dusty reputation of pawnbrokers is long gone. Whereas back then you had to go to a pawnbroker and were subject to the whims of a valuer, modern pawnbrokers such as CASHY have fully automated the process for many items.

You enter the name of your item, receive a quote online and anonymously, including an overview of fees, and take out your pawn loan directly on your smartphone. With offers such as pick-up service or shipping, you don't even have to leave your own four walls for the transaction. If you need your money immediately in cash, you can also visit a store in person.

WHAT ITEMS CAN I PAWN IN A PAWNSHOP?

Here you will find an overview of the items that are most frequently pawned:

• Electronics(cell phones, tablets, consoles, etc.)

• Designer bags

• Luxury watches

• Life insurance

• Coins & bars

• Gold jewelry

• E-bikes

• Cameras

• Tool

• and much more.

WHEN DOES A PAWN LOAN MAKE SENSE? CAN I GET MONEY AT SHORT NOTICE?

That's exactly what pawn shops are for: you can get money quickly, easily and without red tape from providers like CASHY - even online.

Pawn loans are particularly suitable for bridging financial bottlenecks. If, for example, you want to bridge the bill for a repair or an unexpected new purchase or take advantage of a bargain for a vacation offer, the pawn shop is the right place to go.

WHAT IS THE TERM OF A PAWN LOAN?

You get your money paid out immediately and can take out the loan for a short period of 30 days. At the end of the term, you can easily extend your pawn loan in your account as often as you like, make a partial repayment or redeem your item.

WHAT COSTS AND FEES SHOULD I EXPECT?

A direct comparison pays out here. As a sign of quality, you can look for pawnshops with a seal of approval from the Austrian Federal Economic Chamber. In this case, the fee rates are officially approved. CASHY's fair fees have also been confirmed in an independent study by the Chamber of Labor with the VKI.

Here you will find an example of fees from the fee schedule for a pawn loan for a tablet in the amount of 1,000 euros:*

HOW SAFE IS A PAWN LOAN?

A pawn loan is clear and secure because you are not personally liable for non-payment. The fees are always clearly visible in your CASHY account. You can extend or repay your loan on a monthly basis or redeem your item. During the term of the loan, your collateral is well insured and stored under video surveillance.

In the worst-case scenario, your item will be auctioned or sold after a grace period has expired. You will then even be paid out the surplus, minus fees. Your biggest advantage is that your debt is paid in full even if your collateral brings in less money than you borrowed. So you don't have to pay anything extra, and the myth of the debt trap is not true.

WHAT ADVANTAGES AND DISADVANTAGES DO I HAVE COMPARED TO A BANK LOAN?

For a bank loan, you need a regular income, a good credit rating and a functioning household budget. With these requirements, you can get a loan for a longer period of time and pay low fees with low installments.

A pawn loan is better suited for short-term bridging with quick pay-outs, because all you need for a pawn loan is collateral and an ID that confirms you are of legal age.

The most important differences at a glance:

Although the fees for a pawn loan are higher than for a consumer loan, if you want to use the overdraft facility on your account, a pawn loan can be a much cheaper solution due to the bank's commitment fee.

HOW TO TAKE OUT A PAWN LOAN

If you want to pawn an item at CASHY, you can either visit the store or check online to see how much money you can get for it. Enter the name of your item and you will immediately be shown the possible payout amount with fees. Individual inquiries via the form or WhatsApp are answered within a few minutes on weekdays.

You can bring your collateral to the store, have it picked up or have it shipped. Your money will be paid out to you immediately in the store in cash or to your PayPal or bank account, for shipping and collection you can choose between PayPal and a bank transfer.

WHAT IS NOTED ON THE PAWN TICKET? WHAT HAPPENS IF I LOSE IT?

Your pawn ticket cannot be lost at CASHY as it is issued online. You can call up all the data in your account at any time. The following are noted:

• Name

• Address

• Description of the collateral

• Interest and fees

• Runtime

• Loan amount

• AGBs

ALTERNATIVES TO THE PAWN LOAN

If you don't have any collateral that you can pawn or decide against a pawn loan for another reason, you can also ask friends or family members for support. Other alternatives are:

• A personal loan

• An overdraft facility

• Credit from private individuals

WOULD YOU LIKE TO PAWN YOUR CAR OR MOTORCYCLE?

This option is also available to you at CASHY at any time. You can enter the vehicle data of your car into the calculator and immediately request a maximum payout amount including fees. You can fill out the practical form for your motorcycle - and receive an individual offer just a few minutes later on weekdays.