ABN Car Loan

What are ABN Car Loans?

An ABN car loan is a type of business loan called a chattel mortgage. This type of loan allows different types of businesses to secure a loan against a motor vehicle.  The 'chattel' is the asset or car being purchased and the 'mortgage' is the loan that uses the asset as security whilst regular loan repayments are made.  To qualify for a ABN car loan, the vehicle must be used for a minimum of 50% business use.  

Businesses ranging from sole traders, partnerships and trusts to large corporations can use ABN car finance to purchase vehicles. There are a number of business car loan options available to self employed individuals and small business owners that negate the need for payslips.  In some instances no paperwork is required to secure a loan.

What are the types of ABN car loans?

There are 3 types of car finance for ABN holders - no doc car loan, low doc car loan and full doc car loan.  The main difference between these business car loan options is the amount of financial paperwork required to secure finance. 

A no doc car loan is suitable for established businesses that have been operating for a number of years with the owners being asset backed. 

Low doc car loans are a popular choice for business owners.  Although a current business tax return is not required, interim financials such as BAS, profit and loss and/or bank statements, may be required to substantiate income. 

Full doc car loans require up-to-date financials to secure finance.  

What are the benefits of an ABN car loan?

  • Possible to have a no deposit car loan and get 100% finance
  • Low establishment fees and monthly fees, no pay-out penalties
  • Fixed interest rate
  • Monthly fixed repayment schedule.
  • GST registered customers can claim the GST included in the vehicle purchase price.
  • No GST is charged on the monthly chattel mortgage payment.
  • Access to possible tax benefits where the car is used to generate income. (check with your accountant)
  • You own the vehicle from the start of the agreement.
  • Balloon payments on the business car loan are available.
  • Business car loans from $5,000 up to $250,000.
  • Car finance terms from 1 to 5 years.

How can AAA Finance help?

Every business has a unique situation and every lender has different qualifying criteria.  AAA Finance are here to help you navigate the complexities of chattel mortgage finance.  Our team has a wealth of experience, knowledge and know how with access to over 40 lenders.  Let the AAA finance experts cut through the red tape and finance jargon to get you the most competitive business car loan to suit your needs.

Use our car loan calculator with balloon payment option to determine if your new purchase will fit within budget. Simply input the rate, term and loan amount to calculate a monthly loan repayment. Balloon payments are a popular option for business owners.

How to apply for ABN car finance?

Call one of our friendly and experienced car loan experts today on (07) 5493 1222 to discuss your next business car loan.

Alternatively you can get a pre-approved car loan.  A pre-approval gives you piece of mind that your funds are approved before you commence looking for the perfect business car.

Chattel Mortgage | Business Car Loans

Useful Link | ATO Guide to Luxury Car Tax

This link takes you to the ATO site - Who needs to pay LCT and who can defer paying it?

Emily Dimitriou
Emily Dimitriou
10 December 2023
Jason has been absolutely wonderful to deal with and we couldnt be happier with his service. Top notch 😊
Katherine Menadue
Katherine Menadue
15 November 2023
I have just secured a loan through AAA Finance and Insurance to invest in an emerging business O2 for life. The whole process was simple and quick. Ray Wilson was excellent, available at all times to help with any queries. I would strongly recommend Ray and his business for any finance requirements.
Breanna Carr
Breanna Carr
26 October 2023
They are so easy to talk to, answered every question I asked no matter what question it was and they were just great.
Christopher Dyke
Christopher Dyke
17 October 2023
Getting finance is a big step to take and can be a bit daunting. AAA Finance makes the process so easy, which is the reason why I am a repeat client having now purchased multiple vehicles through using their service. You get genuine service from an honest team and assured you are looked after. Give them a go once, it’s all you’ll need!! Thanks AAA Finance!!
Marissa Carr
Marissa Carr
12 October 2023
Ray has been absolutely amazing. Thank you
Jaxon Willpickup
Jaxon Willpickup
14 September 2023
Can not speak highly enough of Pete and his team. They have helped with everything from my business finance to personal finance, has always been a great help. Great communication throughout the process. Would not get my finance sorted anywhere else, highly recommend AAA Finance for fast, competitive and transparent finance! Well done! Thanks again. Mick.M
Michael & Alicia Buda
Michael & Alicia Buda
5 September 2023
Excellent customer service and help. We highly recommend Jason & team for all your finance needs. 2nd time using this company and couldn’t speak more highly of them. Thank you for everything.
Tom Carter
Tom Carter
30 July 2023
Jaime from AAA finance made what would have been a long and complicated process for me really easy, she was super helpful and I felt like I could trust her completely which made the whole process of buying a new car so much better.
7 July 2023
To Jaime Kirkpatrick AAA Finance and Insurance. ” When searching for a personal loan you need to be able to rely on someone you can trust to be able to present all the options available and give you the right information to make the right decisions. Everything that Jaime does was handled quickly, efficiently and her customer service is the best that we have come across. Thank you from the bottom of our hearts for all of your help to get the loan and for assisting us with all of the papers. It has been a pleasure to work with you!” “You will always be my go-to!” It’s easy to see how much you care about the people you serve. I’m grateful to be one of them.” “You go above and beyond daily.Thank you!” “You’re someone who makes a difference every day. So grateful.” “Thank you. Your commitment and professionalism mean more than you know.” LIRIM and Alketa
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