How a pawn loan works

Important information on the subject of pawn loans

The pawn loan

The fair way to cash

The pawnshop is a principle that has been tried and tested for hundreds of years and is still going strong in the third millennium.
Here you can exchange cash for collateral, immediately and with no bureaucratic conditions. Simply bring along a valuable item that you own, such as a piece of jewellery, and your official identification. Leave your valuable item with us as collateral. Taking out a pawn loan is generally a quick process. Our experienced staff will assess the value of your item and determine the amount of the loan, which you will receive immediately.
Typical items that can be pawned include gold, silver and diamond jewellery, high-quality watches, pearl jewellery, accessories, gold and silver coins, silver furnishings and decorative items, complete silver cutlery sets, Meissen porcelain collectibles, musical instruments and paintings.
Technical brand-name devices may only be accepted as collateral in complete, perfect and clean condition within the manufacturer’s warranty period. The following items will be accepted: televisions (LED, LCD, OLED, curved TVs, etc.), digital cameras, household appliances (vacuum cleaners, kitchen appliances).

Call your local Leihhaus Kemp pawnshop directly

Call Cologne city centre

0221 921836-11

Call Cologne Sülz

0221 9415306

Call Cologne Ehrenfeld

0221 9521073

Call Cologne Nippes

0221 9725635

Call Cologne Kalk

0221 9853100

Call Cologne Mülheim

0221 6201828

Email

info@leihhaus-kemp.de

AttantionIf you have any questions about an item not listed here, please call us at one of our branches or contact us by email.

Here you will find all the information you need about pawn loans

What must I bring with me if I want to take out a pawn loan?

The item you wish to pawn (collateral) and official identification. We will, of course, treat all data as sensitive and confidential and will under no circumstances disclose it to third parties. If you wish to leave a technical device as collateral, we require an invoice stating that the item has been paid for in full and therefore belongs to you. Otherwise, we cannot accept the item as collateral.

How long do I have before I have to collect my valuables?

The pawn ticket is valid for four months. During this period, you can redeem your collateral at any time. After the deadline has expired, you have another month to redeem your collateral or extend the term.

What will I have to pay when I want to collect my collateral?

The loan amount, interest and costs for the period that has elapsed. All the details are specified on the pawn ticket, which will be issued to you with the money when you pawn your item.
The calculation is not based on individual days, but on the months started from the date of the handover of the item. The loan is therefore most advantageous if you take it out for a whole month or several whole months.
The interest is 1% of the loan amount per month. The monthly costs depend on the amount of the loan. They are set by law for loans up to €300. For larger loans, they currently amount to 3% of the loan.
Example:
On 7 March, you bring us an item for which we can give you a loan of €300. If you collect your item by 7 April, you will pay €309.50. We have then held the collateral for a month.
If you collect the collateral on 20 April, you will also have to pay interest and costs for the second month started, i.e. a total of £319 including the loan. You will also pay this amount if you redeem the item at the end of the second month, i.e. up to and including 7 May.

How much does it cost to extend the pawn ticket?

You only pay the interest and costs for the period that has elapsed.
An example to illustrate this:
On 7 March, you bring us collateral for which we can lend you £300. The maturity date of the pawn ticket with the agreed term of four months is therefore 7 July.
If you do not redeem the item by 7 July, you will initially only pay the interest and costs for the past period. In our example here, that would be 4 x £9.50, or £38.

On the date of the extension, we will issue a new pawn ticket for the loan under the same terms and conditions, again with a four-month term. You therefore only pay as much interest and costs for the extension of the loan as you would pay if you redeemed the item at the same time..

Can I also extend the pawn ticket by bank transfer?

Yes, the extension fee can also be paid by bank transfer. Please ask your branch in advance for the exact transfer amount and note the bank processing times so that the money reaches us in good time. Please state the branch holding the collateral and your contract number in the reference field.
Bank details:
Leihhäuser Kemp GmbH
Commerzbank Cologne
IBAN: DE70 3708 0040 0826 5094 00
BIC: DRES DEFF 370

What if I cannot collect or extend the collateral?

If you do not contact us, the collateral will be auctioned off after five months to cover our costs. However, in this event you will incur no additional costs. Your collateral is our only security for your loan; you have no further obligations. If the auction raises more money than is necessary to cover the costs, the additional proceeds will be paid to you. Please present the pawn ticket to us.

Can any person collect the collateral?

As a general rule, the person who has the pawn ticket can collect the item unless the ticket has been lost and the collateral has been blocked by you. In this case, we will only release the collateral to you personally. If you no longer have the pawn ticket, we can only issue you a replacement pawn ticket after the term has expired.

What happens if I lose my pawn ticket?

Please notify us immediately and we will place a block on your collateral so that no unauthorised person can redeem it. We can only guarantee optimal security if you report the loss immediately.

Explanatory film about pawn loans

Do you have any questions about our pawnshops, would you like advice or need more information about pawn loans? We can help you! Contact us. Your contact at Leihhäusern Kemp:

Send us an email

info@leihhaeuser-kemp.de

we will respond to your enquiry as soon as possible.


Or call one of our branches

if you require immediate assistance.

Regardless of how you contact us, we look forward to hearing from you and will be happy to assist you with advice and support!

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