at the beginning of the Coronavirus-crisis, as was to be expected: The business in Cedric Domeniconis car pawnshop growled. Numerous entrepreneurs arrived on the farm, to pledge to their luxury sleds, they were because of the consequences of the pandemic in financial difficulties and urgently needed Cash. Ferrari, Aston Martin and co. had to believe in it.

Then, however, the 23 came. March and things changed: Domeniconis pawn shop is located in the German exclave Büsingen on the upper Rhine, surrounded by Swiss territory. And the Swiss Federal Council decided, in turn, on said days in March, together with the banks, a comprehensive rescue program for small and medium-sized businesses. "Since the emergency funding for the Covid-19 pandemic has started, will be picked up at us, striking many luxury cars of businessmen again," says Domeniconi, compared to the "Basler Zeitung".

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emergency loans for the repurchase of the luxury cars

Domeniconi: "We know that many of our clients use the emergency loans to back the purchase of your mortgage loan that you had previously covered with your car.". After a short formality, the company would sled heads with your "luxury home". The most frequently rolled in the most expensive cars such as Aston Martin, Ferrari, Mercedes AMG, Porsche 911 or Rolls-Royce from the pawnshop.

The Corona-loans are according to the pawnbrokers in the high five-digit range, he forgives, as he says, to the "Basler Zeitung", loans of up to the amount of 100,000 Swiss francs. The favorite status symbol is so easy to re-trigger with the money of the state. Although refinancing a loan is not in Switzerland, a other loan is prohibited, however, auto pawn on diving credits in registers. The pawnshop must not make the report on a point of information, most of the transactions are via cash, traces are not to be found. You will experience Beate Sander live!

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And also, the restrictive application of the provisions of the Switzerland, in terms of the pawnshop, the entrepreneurs bypass the sent is Domeniconis pawnshop but on German soil. In the Canton of Zurich, for example, only the cantonal Bank is allowed to operate the pawnshop. Cars to take you not. Differently in the German Büsingen: Here the operation is allowed, in addition, the exclave is part of the Swiss customs territory. The entrepreneurs pay also customs fees. Seizures are not possible.

credit provisions are easy to circumvent watch

the entrepreneur is so fast, your car back is only logical, after all, it gives the state credit for free during the "Parking" of the luxury charges carriage in the pawnshop: 1% interest per month, in addition to a fee of 3.5 percent, as well as Parking costs from 5 Swiss francs per day. "Currently, the business is very sluggish," says Domeniconi of the "Basler Zeitung".

The pawnbroker but also an end to the losing streak: by the end of July the loans run out. Then, since Domeniconi is sure to draw in the transactions with the auto pawn again. Alone: Switzerland remains to be clarified, as it could happen that the credit rules are so easy to get around. Developed the state's emergency funding of the Federal Council, Ueli Maurer, and Credit-Suisse-Chef Thomas Gottstein - the loophole have missed the two men's well-being.

in The meantime, has noticed, the government and a warning to all who want to bodies of the state credit more difficult, as Swiss media reports, have already been some of the proceedings. Alone: The entrepreneur, the repeat their pledged luxury limousines in pure cash transactions, are to go to the investigators, most probably through the cloth.

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Date Of Update: 24 May 2020, 09:26