What is a bike loan

Finance your bike with auxmoney

At auxmoney, your bike financing can be completed in just a few steps and before you know it, you are in the saddle of your new bike and start your first bike tour.

1. Create a personal profile

So that you can register on the auxmoney credit platform, we only need a few pieces of information from you. This includes your name and date of birth, your nationality, your marital status, your address and current living situation as well as a telephone number at which we can reach you if you have any questions.

2. Complete the bicycle financing request

First, select the desired loan amount, which can be between 1,000 and 50,000 euros. You can also individually select the term and thus the monthly rate for your bicycle installment, adapted to your personal financial situation.

3. Wait for the credit decision

We will then check your loan application for a loan for the purchase of a bicycle. By including Schufa-Score and up to 300 other credit agencies, auxmoney carries out a preliminary check of your creditworthiness within seconds in order to guarantee a fair interest rate. Since the Schufa alone is not decisive for the loan brokerage, bicycle financing is also possible despite Schufa.

You will find out immediately after the loan request whether your bike can be financed by auxmoney's private investors. Most loans are usually fully financed as instant loans after a few hours to a few days. If we need further documents from you about your finances, we will contact you.

4. Legitimation of your identity via VideoIdent or PostIdent

You have to identify yourself so that we can be sure that you are the person requesting a loan. The fastest way to authenticate your identity is through the VideoIdent process. All you need is a webcam or mobile phone camera and your ID card. Alternatively, you can use the PostIdent procedure. However, due to the way to the nearest post office of Deutsche Post AG, the credit processing can be slightly delayed.

5. Sign the loan agreement

If you agree with the terms of the loan offer, such as the monthly rate and the APR of the loan for your bike, all you have to do is sign the loan agreement. You can conveniently place your signature on the contract online via eSign. If you don't mind the way to the post office, you can also print out the loan agreement, sign it and send it to us by post.

6. Wait for the loan for the bicycle financing to be paid out

In the best case scenario, your financing amount can be ready for payment within 24 hours and be in your account a little later. There the loan amount is then available for free use. For example, it is also possible to take out a loan to finance several bicycles if the whole family needs new bicycles. If there is no loan brokerage, there are no fees for the failed bike financing. You also have the option of starting another attempt to finance your bike, which is also free of charge. Submit a loan application today and pay back your bike in installments.