Question 1

How much money do I get for my cell phone?

Accepted Answer

The value is calculated based on several factors such as the age and general condition of your device. On our website you can see how much money you would receive for your collateral.

Question 2

What is a pawn loan?

Accepted Answer

With a pawn loan, you receive a loan and give us collateral during the term of the loan. CASHY accepts collateral such as electronics, jewelry, luxury watches, designer bags and many more.

Question 3

How long does it take to pay out in cash or to my account?

Accepted Answer

If you bring your phone to our store, you will normally be paid out immediately. If you have opted for shipping, we will check your device once it has arrived. As a rule, your money will be in your account the next working day after the check.

Question 4

Can I extend the pawn loan for my device? What fees are involved?

Accepted Answer

If you extend your pawn loan, you will be charged a small partial amount. This is made up of the interest and fees that have accrued up to the date of the extension. You can also check your fees online in your account at any time.If the value of your cell phone has fallen sharply during the pawn credit period, you must make a corresponding partial repayment.

Question 5

Do I have to be of legal age to take out a pawn loan with CASHY?

Accepted Answer

Yes, all customers who wish to take out a pawn loan with CASHY must be of legal age.

Question 6

What happens if I cannot repay my pawn loan?

Accepted Answer

You have the option of extending your pawn loan during the term of your pawn loan. If you are unable to extend your pawn loan or repay it within the agreed term, your cell phone will be auctioned off after a waiting period and notification by CASHY. If the proceeds less the fees exceed the amount of your pawn loan, you will be paid out the difference. However, your debt is also settled if a lower amount is achieved at the auction.

Question 7

How high are the interest and fees?

Accepted Answer

In the following example, we will show you how high the fees are for a €300.00 pawn loan with a 30-day term and how they are made up:

Loan amount: € 300,00
Interest: € 3,00
Business operation costs: € 6,50
Total fees: € 9,50

You can find all further information about interest and fees at CASHY in our clear fee schedule.
Please note: A pawn loan is suitable for short-term bridging due to the short term of 3 months. In our example, the interest is 1% per month (12% per year) and the operating costs are €6.50 per month (€78 per year). For example, if you were to keep renewing your pawn loan with a term of 3 months and reach a total term of 1 year, the fees would be as follows:Loan amount: € 300
Interest on the loan: € 36
Operating costs: € 78
Total fees for 1 year (term not offered in this length): € 114,-

SELL YOUR HUAWEI P20 PRO OR TAKE OUT A PAWN LOAN - HOW IT WORKS

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