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 geographical location adjacent to the cantons of Zurich and Schaffhausen, an efficient alternative to a bank loan.
The initiators are happy that the image of the pawn loan has improved significantly over the years and now want to contribute to it themselves with a transparent and discreet business process.
For John Trapletti, owner of “Auto + Uhren Pfand Ostschweiz”, it is clear: “With our pawn shop, we offer an unbureaucratic and discreet opportunity to increase liquidity at short notice.»The experienced trader has been carrying the idea of a pawn shop with him for over 15 years and is proud that the idea 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.
Today the idea of the Franciscans is regulated by the state and the operation of a pawn shop is subject to a license. If an item is offered, the experts from “Auto + Uhren Pfand Ostschweiz” set a deposit value. The lending rate varies between 40 and 60% of the current value of the pledged item, depending on the term. 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 approx. 24 hours on weekdays. The vehicle or the watch is handed over to the safe care of “Auto + Uhren Pfand Ostschweiz”.
After a contractually stipulated minimum term of 3 months, the customer has the option of redeeming and collecting the pledged item or, if mutually agreed, pledging it again.
If a pawn is not released on time, it will be auctioned off to the public. The auction is carried out by the responsible debt enforcement office. The public auction of the pledged item is published in the official gazette beforehand. If the sales proceeds of the item are higher than the deposit value, the customer is entitled to the difference, which is then paid out directly to him 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.
Angela Trapletti, who supports her father with “Auto + Uhren Pfand Ostschweiz”, gives an example of a vintage car that could spend the winter at the pawn shop. Covered up, insured and housed in an alarm-secured hall. It would have hardly been moved by the owner in the winter months, would have needed a parking space in a garage and thus ensure the liquidity required 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
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