FAQs

Low documentation vehicle financing is a commercial credit facility which is only available to business entities for vehicles to be used by and in that business. This type of loan is not available for personal car purchases.

The difference between no and low documentation financing is the quantity of financial records made available in the application.

Interest rates are subject to lender assessment of each application. Competitive rates can be achieved on low documentation with strong turnover and financial stability.

Where a new sole trader has an ABN and ID, they can be eligible for low documentation vehicle financing.

The minimum requirements for low documentation vehicle financing are to hold an ABN and provide ID. Financials documents are requested to prove income and financial stability.

When approved for financing with less paperwork, operators may select from Chattel Mortgage, Leasing and Hire Purchase.

Yes. All types of motor vehicles used by a business operation can be eligible for low documentation financing.

New businesses will need an ABN and ID as minimum requirements for low doc car loans. In addition, they should provide proof of income through turnover so far, a business plan and financial stability through assets or financials of the owner.

No deposit low doc financing is available, subject to individual lender guidelines. A low doc applicant may be required to prove a strong financial position to be approved to borrow the full purchase price of the vehicle.

Yes. A balloon payment is an optional inclusion with Chattel Mortgage and Hire Purchase. With Leasing, a residual is included in the structure of the finance.