FAQs

Low doc finance is commercial lending for operators without the full set of financial documentation required for loan approval by some lenders.

To apply for no documentation financing, operators must have an ABN and ID. Submitting what financials are available or can be prepared is advisable.

Interest rates are individually offered based on an assessment of the credit profile and financials of the applicant. Rates for no financials loans may be higher than for fully documented applications due to the perceived increased risk by lenders.

All types of RVs may be accepted for financing without financials. These may include off-road site vehicles, expedition and exploration vehicles, standard caravans, camper trailers, motorhomes and other models.

Start-up operators can be eligible for commercial finance with low doc loans. They must have an ABN, and ID. Personal financials can be requested for assessment by lenders.

Leasing is one of the credit facilities available to operators approved for low doc financing.

Commercial credit without financials is typically available through specialist non-bank lenders. Operators may contact a broker for access to these lenders.

Commercial credit typically allows for the goods being financed to be the primary collateral for the loan. Some applicants may be required to provide additional security through other assets or personal guarantee.

Loan limits, including approval to borrow the full purchase price of goods without a deposit, is subject to individual lender guidelines. Most commercial credit does allow for the full purchase price to be included in the loan with no deposit.

A balloon is an optional inclusion with Chattel Mortgage and Commercial Hire Purchase. Where approved for low doc financing, operators have the choice of including a balloon.