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Auto + Uhren Pfand Eastern Switzerland opens its doors

Reading time 4 Min.

Recently updated on September 22, 2023 at 03:54 am

Financial bottlenecks are often a challenge. From now on there is a pawn shop "Auto + Uhren Deposit Eastern Switzerland", based in Schlatt TG, which is a central geographic location adjacent to the cantons of Zurich and Schaffhausen, is an efficient alternative to a bank loan. The initiators are happy that the image of the mortgage loan has improved significantly over the years and now want to contribute to this themselves with a transparent and discreet business process.

For Fabian Liechti, owner of "Auto + Uhren Pfand Ostschweiz", one thing is clear: "With our pawn shop, we offer an unbureaucratic and discreet way to increase liquidity in the short term." The experienced trader has had the idea of ​​a pawn shop for several years and is proud that the implementation has now become a reality.

But the idea of ​​a pawn shop is not new. It had its origins in the Middle Ages. Franciscans founded the first pawn shops in the 15th century. They offered a loan to mortgage an item of value on fair terms. The aim at that time was to support people in need and to protect them from the often high interest rates paid by moneylenders at that time.

Auto + Uhren Pfand Eastern Switzerland opens its doors

Today the idea of ​​the Franciscans is regulated by the state and the operation of a pawn shop requires a license. If an item is offered, the experts from "Auto + Uhren Pfand Ostschweiz" set a deposit value. Depending on the term, the loan-to-value ratio varies between 40 and 60% of the current value of the pledged item. If the offer meets the expectations of the interested party, they will receive a pawn ticket and the agreed amount will be transferred to their account within 24 hours on weekdays. The vehicle or the watch will be handed over to the safe custody of “Auto + Uhren Pfand Ostschweiz”.

After a contractually stipulated minimum term of 3 months, the customer has the option of redeeming and picking up the pledged item or, if mutually agreed, to pledge it again. If a pledged object is not redeemed in time, it will be publicly auctioned. The auction is carried out by the responsible debt collection office. The public auction of the pledged item is published in advance in the official gazette. If the proceeds from the sale of the item are higher than the deposit value, the customer is entitled to the difference, which is then paid out directly by the debt enforcement office.

The pawn loan is now a popular instrument for discreet bridging financing. The borrower cannot become overindebted because the values ​​deposited cover the pawn loan.

Auto + Uhren Pfand Eastern Switzerland opens its doors

Mr. Liechti gives an example of a vintage car that could spend the winter at a pawn shop. Covered up, insured and housed in an alarm-secured hall. It would probably not have been moved by the owner in the winter months, would have needed a parking space in a garage and thus ensures the necessary liquidity quickly, efficiently and unbureaucratically.

Since banks are very reluctant to grant loans, the idea of ​​a pawnshop that is allowed to act without prior disclosure of the financial situation or wages of the interested party is more topical than ever. In this way, private individuals and business people can bridge short-term liquidity bottlenecks quickly and unbureaucratically. More information: autouhrenpfand.ch

Auto + Uhren Pfand Eastern Switzerland opens its doors

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Auto + Uhren Pfand Eastern Switzerland opens its doors

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About Thomas Wachsmuth

Thomas Wachsmuth - He has been an integral part of tuningblog.eu since 2013. His passion for cars is so intense that he invests every available penny in them. While he dreams of a BMW E31 850CSI and a Hennessey 6x6 Ford F-150, he currently drives a rather inconspicuous BMW 540i (G31/LCI). His collection of books, magazines and brochures on the subject of car tuning has now reached such proportions that he himself has become a walking reference work for the tuning scene.  More about Thomas

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