Here you will find information on collateral loans.

Procedure
You will find that the procedure is completely uncomplicated. We do not need your credit score, or any other information. We do not require you to answer embarrassing questions. The property value of your vehicle is solely the most vital factor. We make instant decisions and disburse CASH. Your advantange... Everybody is creditworthy. You are not taking on a debt - in contrast to bank loans, the collateral loan does not involve any financial obligations on a monthly basis and no personal liability. Your vehicle covers your loan.

Contact
First, you need to provide information on your pledge as collateral / vehicle, such as the model, registration date, kilowatt, kilometer, general and emissions inspection, important extras, and vehicle condition, either by phone or fax, or directly on our quotation form. We then calculate the approximate value of your vehicle. As a general rule, we grant loans in the amount of 70% of the current value of the vehicle.

Processing
You can approach us during the indicated business hours without prior appointment. Apart from the vehicle, of which you are in sole possession, we will require your motor vehicle registration certificate, or the de-registration certificate, as well as the keys to the vehicle. We also need other documents that significantly influence the valuation of your vehicle (e.g. the vehicle service manual, repair vouchers, or documents pertaining to significant replacement parts). If you are not listed as the owner on the registration certificate, we will require an authorization from the owner. In order to be able to conclude the collateral loan agreement, you will need to submit your personal identification card / passport. Your vehicle will be kept in a safe building, will not be moved, and will be insured by us for the duration of the storage at double the value of the collateral loan. Only our employees have access to this building.

Discretion und first-class service are topmost priorities
We will ensure that you never will run into other customers, nor that your vehicle will be recognized. We will store all documents concerning the vehicle, such as the keys and the registration certificates at a safe place!

Collateral loan agreement
At the outset, the collateral loan agreement runs up to 3 months, with the possibility of an extension. The vehicle, however, can be redeemed at anytime. In addition to the collateral loan agreement, we will also prepare a transfer protocol, bearing all the important dates concerning your vehicle. The protocol contains notes, for instance, regarding the mileage and the documents you submitted.

Premature redemption
Your pledged object/ vehicle may be redeemed at any time. You may simply call us up and set up an appointment to pick up your pledged object / vehicle.

Fees
The fees for your collateral loan agreement shall be calculated for the entire month. A month that is already underway will count as a whole month. The repayment of the loan and the incurred costs will become due only at the time of the vehicle pickup.

Interest
We calculate the legally valid interest on the loan amount at 1% per month and 3.5% for processing and insurance fees, etc. Important for the calculation of the costs is the day on which the collateral loan agreement is concluded. If we conclude the agreement on the 10th of the month, the new month will be taken to be the 11th of the following month.

Demurrage
For the secure storage of your vehicle as well as the technical support for your vehicle, we estimate the daily costs at 3.00 for cars and 1.50 for motorcycles.

Example
You need a short-term loan of over 10,000. The total costs (interest, fees and demurrage) per month run up to 540. Repayment after a month: 10,540.-, after two months, 11,080.-, and after three months, 11,620.-.

After three months
If you do not redeem your vehicle within three months, you have the possibility of extending your collateral loan agreement by settling the incurred interests, fees and the demurrage. We will send you a new collateral loan agreement. If we do not hear from you, or if you choose not to extend your collateral loan agreement, your vehicle will have to be auctioned off. You are, however, entitled to a possible surplus accruing from the sale.