Holidays without financial worries: Pawnshops and cash & drive models record high demand / Market leader Pfando publishes top 5 ranking
The season of Christmas shopping and wishes is just around the corner. For many people in Germany, money is particularly tight this year and the need for a few carefree holidays is even greater. Pawnshops and service providers such as Pfando are experiencing particularly high demand these weeks when customers want to put their financial worries on hold during the Christmas season.
Demand for the cash & drive model has almost doubled in two years
More and more people are using Pfando's cash & drive service: while there were just under 4,000 customers in 2018, it is estimated that there will be around 7,500 in 2020. Over a third regularly use the opportunity to bridge financial bottlenecks using the Cash & Drive model. 36% of customers are regular customers.
Top 5 ranking: cities with over a million inhabitants Hamburg , Berlin and Munich with the highest vehicle values
Especially in the cities of Berlin, Hamburg and Munich as well as Frankfurt, people receive the highest payouts on average
Vehicle: approx. 4,500 to 4,900 EUR per vehicle. However, the absolute leader is Munich with an average payout of around EUR 5,600. Pfando's top 5 ranking shows that vehicle values are significantly lower in eastern Germany and in socially and economically weak regions. With an average of around EUR 3,300, Erfurt has the least amount of cash for a car.
Market leader Pfando enables cash withdrawals while maintaining personal mobility
Anyone can get into financial difficulties at some point, and many people often need additional financial flexibility, especially before the holidays. Compared to a conventional vehicle pawnshop, with a cash & drive model like Pfando, the customer remains mobile and can continue to drive their vehicle.
“When house banks and credit institutions no longer help with unexpected liquidity bottlenecks, we are often the last resort for our customers to get cash quickly and easily. Especially now during the Christmas season.” says Tobias Renkel, Managing Director of Pfando's cash & drive GmbH. At the same time emphasized
he: “The prerequisite is that our customers are transparently informed about all steps before the contract is concluded.” At Pfando, this is ensured by a strong branch network and specially trained employees at 25 locations in Germany.
Thanks to their uncomplicated processes, car pawnshops are increasingly being preferred
Thanks to the transparent processes, the proportion of regular customers is increasing, emphasizes the managing director of Pfando: “This is the only way we have managed to ensure that our service is used regularly by over a third of our customers and that we are now a real alternative to a loan from the house bank.”
External web link: Pfando