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ABN Car Loans - ABN Car Finance

Compare ABN Car Loans across Multiple Lenders

While ABN loans are individually assessed, we’ve provided this handy comparison tool so you can see how Jade interest rates compare with many others in the market. You simply input the amount of the loan you want and the loan term that you would prefer, and you can quickly see the variations in estimated repayments.

Loan Amount
Loan Term
New Equipment Loan
2.79% Starts At
$569.75
Monthly repayment
Used Older Secured Equipment Loan
4.50% Starts At
$612.5
Monthly repayment
Business Loans - Unsecured
7.99% Starts At
$699.75
Monthly repayment
Business Loans - Secured
2.95% Starts At
$573.75
Monthly repayment
Overdraft - Non Bank
9.95% Starts At
$748.75
Monthly repayment
Chattel Mortgage
2.79% Starts At
$569.75
Monthly repayment
Operating Leases
4.60% Starts At
$615
Monthly repayment
Commercial Hire Purchase
2.79% Starts At
$569.75
Monthly repayment
Rent To Own
9.95% Starts At
$748.75
Monthly repayment
Loan Product Interest Rate Monthly Repayment
New Equipment Loan 2.79% Starts At
$569.75
Used Older Secured Equipment Loan 4.50% Starts At
$612.5
Business Loans - Unsecured 7.99% Starts At
$699.75
Business Loans - Secured 2.95% Starts At
$573.75
Overdraft - Non Bank 9.95% Starts At
$748.75
Chattel Mortgage 2.79% Starts At
$569.75
Operating Leases 4.60% Starts At
$615
Commercial Hire Purchase 2.79% Starts At
$569.75
Rent To Own 9.95% Starts At
$748.75
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* Commercial loan:  WARNING: all fees and charges may not be included on the example above, Therefore, the total cost of the loan might be different. Payments do not include upfront fees, redraw fees, early termination fees and fee waivers. Rate may change as a result of the different loan terms, fees and the loan amounts. Establishment fees and monthly fees do not apply toconsumer loans, only commercial predominately for business usefinanicing. 

ABN car loans or ABN-only motor finance come under the low docs no docs category of vehicle finance. The name derives essentially from the feature that applicants applying for this type of motor vehicle finance hold little other documentation than an ABN. An ABN is an Australian Business Number and all persons and organisations require an ABN in order to transact business in Australia. To acquire an ABN, applicants must apply through ASIC.

The type of documentation, or docs, referred to with ABN finance are financial accounts of an ongoing business and other records such as income tax returns and BAS statements. Most banks and finance companies have strict criteria in relation to business finance and in most cases require extensive financial documentation in order to assess and ultimately offer the loan.

Many new businesses including start-ups may find themselves in the situation of being unable to source finance through these institutions as they do not meet the criteria. Jade Finance is accredited with many non-bank lenders which are more flexible and which are more open to discussing low docs and ABN finance.

ABN vehicle loans are a specialised type of business vehicle finance and Jade has the expertise required to present your application to our lending panel to source a workable loan offer. Using a lender such as Jade can be extremely beneficial in these situations.

All ABN automotive loans are addressed and assessed on an individual basis, but we can provide general information as to what is involved in applying for ABN vehicle finance and the standard features of such a loan.

What you need to apply for ABN Car Finance

In order to apply there are minimum requirements and preferred requirements. Essentially, the more financial documents you can provide to support your application, the more you improve the possibility of your Jade consultant being in a position to achieve a cost-effective loan for you and most importantly, improve the interest rate offered

  • You must be a business to apply. This is not available on personal used vehicle loans.
  • A current ABN is essential
  • Identification is essential
  • Being registered for BAS and providing BAS returns is preferable
  • Business accounts outlining income and expenditure is highly preferred. These do no have to be professionally prepared by an accountant. The business owner can prepare these figures.

Loan Types for ABN Car Finance

Once approved, credit can be utilised across the range of commercial equipment loan products which include:-

  • Chattel Mortgage
  • ABN Lease
  • Commercial Hire Purchase

Each of these loan products includes varying benefits and features in relation to taxation and other accounting issues. Chattel Mortgage is suited to the cash accounting method, leasing to the accruals accounting method and CHP can be used with either method.

The decision as to which will derive the greatest benefit to your business should be made in consultation with your accountant or financial advisor.

ABN Car Finance Key Features

ABN motor vehicle loans are all individually assessed but the following general features can be used as a guide as to what will most likely apply:-

  • ABN finance can be sourced for both new and used vehicles which will be used primarily in the business operation.
  • The majority of cars, vans, utes and other vehicles to be used for business purposes are eligible for applying for ABN vehicle loans.
  • Due to the higher risk assessment of this type of loan, it attracts a higher interest rate than is achievable for fully documented finance.
  • Conditions are subject to individual lender requirements and in some cases, the lender may require additional security, in addition to the motor vehicle being purchased, be offered by the business owner. Security by way of property or other assets.
  • Depending on the amount of the loan you are requesting, aspects of your individual application and lender requirements, some lenders may request the borrower pay a deposit or a greater deposit on the vehicle. In general terms, lenders do not usually request deposits be paid. However, in the case of ABN vehicle finance, a deposit may be requested to reduce the total loan amount and hence the lender’s exposure to the loan.
  • As with all motor vehicle finance contracts, comprehensive car insurance will be required to be taken out on the car.
  • The tax deductibility and treatment of GST of different elements of an ABN car loan is determined by the type of loan not that it is an ABN-only loan.

Sourcing ABN Car Loans

An increasing number of people are making the move to start their own businesses either as their primary or as a secondary source of income. In many industries, especially trades, courier and delivery work and cleaning operations, having your own motor vehicle is essential.

Very few banks and finance companies will offer this type of loan direct to customers.

As an expert in motor vehicle finance, it is not uncommon for Jade to receive requests for ABN financing and our consultants have the experience and the connections to achieve workable solutions for many of our customers.

Using our services as your lender can deliver you significantly better results than you can achieve by handling the process yourself.

  • Connections with our industry network of lenders and banks.
  • Highly skilled negotiators to bargain the best deal on the cheapest interest rates and loan terms and conditions that come closest to your preferences.
  • Experience in structuring ABN credit to deliver the best outcomes for our customers.

Applying for ABN Car Finance

The process for applying for a credit application is the same as applying for fully documented business vehicle finance. It can start with a phone call to Jade when you will be assigned a consultant that fully understands this specialised loan area and will handle your deal through all stages.

On receiving your brief, your consultant will source a quote from across our lender panel, negotiating on interest rates and conditions as we source.

We will present you with the results of our sourcing and if we are successful in achieving a quote that meets your approval, your consultant will proceed through the loan processing stages and assist you with the paperwork.

The entire process is smooth and streamlined and we’ll save you time and a lot of hassle. There is no obligation to proceed until you accept the offer and sign the contract. So nothing to lose by starting the conversation and plenty to gain with Jade assisting you through the entire process.

To discuss ABN car finance, contact Jade and have an obligation-free discussion with one of our consultants. Call 1300 000 008

 

Get a quote

Request a free finance quote by calling 1300 000 008 or directly online.

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FAQs about ABN Car Finance

ABN car loans are a highly specialised area of motor vehicle finance which is part of the low docs and no docs loan category. Due to the specialised nature of these loans, we appreciate that those seeking such finance may have a lot of questions about their eligibility and what is involved. In addition to the information on our web page, we provide you with this information which we trust will assist you. For further details please call us on 1300 000 008

What is an ABN car loan?   

An ABN car loan is also referred to as an ABN-only car loan as essentially, the applicant has little other documentation in relation to their business than an ABN. By definition, it implies that the applicant does not have the full financial documentation that is required by banks and most lenders to be offered a standard business car loan.

 

This type of loan is also considered as a low docs or no docs loan. It is only available to businesses, not to individuals requesting a personal vehicle finance.

What loan types apply for ABN car finance?   

An ABN car finanvce is for business vehicle purchases and when approved, the applicant can select from the range of commercial financing facilities available. The business loan products offered include leasing, Chattel Mortgage and Commercial Hire Purchase. These products differ or vary in regard to suitability for cash or accruals accounting methods, which elements of the loan are tax deductible, where GST is applied and claimed, ownership of the vehicle over the term of the loan and other accounting issues.

What cars can I buy with an ABN car loan?   

In order to be eligible for a ABN car loan, the vehicle being purchased must be for use predominately in the business. In general, as a business vehicle finance an ABN car loan can be used to purchase the full range of vehicles, subject to individual lender requirements.

 

This includes sedans and passenger vehicles, hatchbacks, SUVs of all sizes, utes and cab chassis vehicles, light vans, wagons and other vehicle types. In general, ABN loans cover both new and used vehicles but the age and condition of a used vehicle will be taken into consideration by lenders when assessing a loan application.

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