Low Doc Car Loans

AAA Finance specialises in providing business owners with quick and easy low doc car loans. Our experienced finance brokers will save you both time and money. Experience the AAA difference - competitive interest rates, loans approved within 24 hours, easy application process and access to 40 lenders.

What is a Low Doc Car Loan?

Low doc car loans are a business car loan option available only to self-employed people and businesses with an ABN. This type of loan is particularly beneficial for business owners who do not want to provide extensive financial paperwork. In fact, low doc means only a small amount of documentation is required to secure car finance. 

In addition, the vehicle has to be used 'predominantly' for business purposes. That is, more than 50% of the time for business related use. 

At AAA Finance we have an experienced team of finance brokers. Because we have access to over 40 different lenders, we can save you time and money with your next low doc vehicle loan.

More about low doc car loans ...

Experience the AAA difference Today!

  • Competitive interest rates;
  • Loans approved within 24 hours;
  • Easy application process;
  • AAA customer service.

What are the Benefits of Low Doc Car Loans?

There are many benefits of low doc business car finance. These include the following:

  1. No paperwork - no problems!
  2. Speedy loan turnaround time
  3. GST and other tax breaks for ABN holders
  4. Fixed low interest rates
  5. Easy monthly repayment structure
  6. Loan terms lasting up to 7 years
  7. Balloon payment option

Read on to find out exactly how these benefits can apply to your purchase.


1. No Paperwork - No Problems!

Anyone who is missing up-to-date financials, such as a current tax returns, or simply don’t feel comfortable sharing said documents with their bank, will find a low doc car loan as the ideal solution. With a low doc car loan option you will still need to provide some basic financial documentation to prove income. For instance, documentation could include business bank statements, business activity statement (BAS), profit and loss statement and / or an accountants letter. Please note that every lender has different requirements.

2. Speedy Loan Turnaround Time

  • Application - approximately 5 to 10 minutes over the phone.
  • Approval - most low doc finance loans are approved within 24 hours.
  • Decide on your car - you can purchase privately or from a dealer.
  • Settlement - funds are transferred to the seller overnight.

3. GST and Tax Breaks for ABN Holders

Business owners who obtain business car finance are able to claim both tax deductions and GST benefits if they are an ABN holder. ABN holders may be able to claim both the interest on the car loan as tax-deductible and also the vehicle depreciation. Businesses registered for GST can also claim the GST portion within the purchase price of a vehicle in their next BAS. This link to the ATO website explains what you can claim as a tax deduction for motor vehicle expenses.

4. Fixed Low Interest Rates

Low doc car loans have a fixed interest rate for the term of the loan. That is, your repayment does not change allowing you to budget for the cost of your next business vehicle. At AAA we work with a panel of over 40 lenders. From this large array of lenders, our experienced team chooses the lender that best suits your individual circumstances. As a result your car finance approval is at the lowest possible interest rate.

The interest rate depends on your profile, credit score as well as the age, make and model of the car you wish to purchase. If you are a property owner who has has been running a successful business for a number of years then lenders view you as low risk. Consequently you will be offered a more competitive interest rate. New or near new cars are viewed more favourably than older vehicles and again the interest rate will reflect this.

5. Easy Monthly Repayment Structure

Loan repayments are set up to be automatically direct debited monthly. This therefore allows you to set and forget and focus on the important things, like running your business. Some of our lenders have no ongoing fees. All costs associated with the loan, such as the lender establishment fee, are incorporated into the loan repayments.

6. Loan Terms Lasting up to 7 Years

You dictate the term of you loan. The longer the term, the smaller the monthly repayment and thus can free up much need cash flow for your business. A shorter term has the car paid off quicker but the monthly repayment is higher. Our car loan calculator is on hand to provide aid in determining how the term will affect your repayment.

7. Low Doc Car Loan Balloon Payment Options

A balloon payment allows borrowers to secure a repayment plan that decreases their monthly loan repayments by paying off a larger amount of the principal at the end of the loan period. A portion of the car value, up to as much as 50%, is not included in the loan amount. Instead, this sum is due at the end of the loan in the form of a lump sum payment. This balloon amount is either, 1. paid out or 2. refinanced, at the end of the business car loan term. For instance, some business owners choose to sell the vehicle, pay out the balloon amount with the sale proceeds and finance a new vehicle. As a result they can tap into any tax breaks AND have an updated new work vehicle on a regular basis.

How Much Will My Car Loan Repayments Be?

By gauging the amount you wish to borrow, the term of your car loan and an approximate interest rate, our car loan calculator will tell you just how much you are likely to be paying each month. This is therefore an important tool for planning ahead and making sure you get a car loan that perfectly suits your financial situation.

What is a Balloon Payment and How Will it Affect My Loan Repayment?

A balloon is a lump sum payment due at the end of your loan term. By including a balloon repayment in your loan it reduces your monthly loan repayment. This makes it easier to upgrade your car while still maintaining cash flow for your business. You can either pay out the balloon at the end of the term or refinance it. Our car loan calculator with balloon payment function demonstrates how this type of loan structure can work for you.


How Do I Apply for a Low Doc Car Loan?

It is as easy as picking up the phone and speaking with one of AAA's experienced finance brokers. An over the phone application takes only 5 minutes. Alternatively, fill out the online contact form and will be in touch. We can even organise a pre-approved low doc car loan. This allows you to go car shopping with the knowledge that your funds are approved and also fit within your budget.

With so many benefits available, a low doc car loan is a must-try for any business owner with an ABN, let alone one who finds themselves in a situation where traditional lending is out of reach. If a low doc car loan is something that you would like to find out more about, then please get in touch with AAA Finance today.

Why Choose AAA Finance?

AAA Finance is owned and operated by Peter Watman. He has a International Business and Economics Bachelors degree from QUT and he is also a qualified mechanic. Peters passion for both cars and finance, means that he is the ultimate car finance guru! Peter leads a team of experienced finance brokers, coming from both banking and car dealership backgrounds. Please click here to find out more about AAA Finance.

Low Doc Car Loans FAQ's

Q: How long do I need to have an ABN running to qualify for a low doc car loan?

A: Every lender is different, however, the minimum requirements for a low doc car loan is 1 year ABN and 1 year GST registered.

Q: Does the vehicle purchased using a low doc car loan have to be used for business?

A: Yes, in fact the vehicle must be predominately for business use. 'Predominately' is considered greater than 50% businesses related use.

Q: How long does a low doc car loan approval take?

A: Low doc car loan approvals take 24 hours.

Q: What do you need for a low doc car loan?

A: Every lender has different requirements. You MAY need to provide some proof of income. This could be in the form of bank statements, profit and loss statement, BAS and/or tax return.

Q: How does low doc car finance work?

A: This type of business loan uses the car as security and the loan is paid back monthly over an agreed term with a fixed interest rate. The main difference is that this type of loan negates the need to up-to-date tax returns, reducing the amount of paperwork required to prove income.

Q: Is it hard to get a low doc car loan?

A: No. They avoid unnecessary paperwork and the need for up-to-date financials which makes the process of getting a loan much simpler for time poor business owners.

Q: How much deposit do I need for a low doc car loan?

A: Deposits range from 0% to 30% and depend on the applicants overall profile, the lender and the asset.

Q: Do low doc loans have higher interest rates?

A: No – This type of loan is very competitive and attracts the same interest rate as a full doc loan. In fact, they usually have a lower interest rate than consumer loans.

Q: What information do I need for low doc finance?

A: You will need to complete a standard application, provide proof of your identity (drivers’ licence and Medicare card) as well as your residential address (rates notice or tenancy agreement). The documentation depends on the lender and may also require an applicant to prove income. Proof of income varies between each lender and may simply be a declaration of income, bank statements or BAS. 


low doc car lows and no doc car loans for self employed ABN holders



* Your actual interest rate will be based on a number of factors, including the type and age of the asset you are seeking to purchase; the information you provide during your application and the term of the loan. This rate may be different from our lowest advertised rates. The Comparison Rate is calculated on a Secured Loan of $50,000 fixed for a term of 5 years, effective 27/05/2024 and subject to change. The Comparison Rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate.

Tammy Davies
Tammy Davies
27 April 2024
Excellent service provided from start to finish, Jaime kept us informed through each step. Would highly recommend. Very easy to deal with, having financed with car dealers many times, this was a seamless process and AAA ensured they secured the best deal for us.
David Marjoribanks
David Marjoribanks
17 April 2024
Jason Barry and the team at AAA Finance were great throughout what became a complex process in arranging settlement on finance for a vehicle. Jason’s continued efforts to resolve some unexpected issues and constant follow up ensured the finance settled. Without his great work it could easily have fallen over. Even the fleet company who sold the vehicle to me were singing his praises ! Thanks Jason. Will be using Jason and AAA Finance on my next purchase for sure !
Deborah Gibson-Campbell
Deborah Gibson-Campbell
2 April 2024
Exceptional service by Jason yet again. I have been engaging Jason for many years now, whenever I have used financial services for purchases and he has always obtained a great loan package for myself.
Samantha Holder
Samantha Holder
2 April 2024
Big thanks to Jason Barry at AAA Finance! From beginning to end, Jase ensured that purchasing our 2021 Jayco Work N Play was smooth and hassle-free. Even though we initially received approval with a higher interest rate, he persevered and secured a much better rate for us. He maintained excellent communication throughout the entire process. I highly recommend Jason to anyone. Thank you Jase for your outstanding service!!
Jemma Pudwell
Jemma Pudwell
15 February 2024
We have used Jase from AAA Finance twice in the last 12 months, and he has been great to deal with. Communication was great, he was very proactive especially if anything may come up and were very quick in getting it all sorted in the best possible way to suite our situation. Highly recommend and will use Jase again in the future.
Ryan Smith
Ryan Smith
14 February 2024
Just finished my process with Ray from AAA finance. The man is unbelievably genuine and taught me so much throughout the process. This wasn't just about securing my finance and Ray showed that through immaculate service. Ray has educated me and shed light onto future projects only confirming where I'll be taking my business in the future. Absolutely phenomenal and wouldn't even consider using anyone else. Thanks again Ray!
Wayne Roby
Wayne Roby
29 January 2024
AAA were awesome at helping me out of a tight situation (and with bad credit file) ! they were friendly and quick to respond. i would highly recommend them
23 January 2024
Jason was professional, organised and very helpful in regards to the loan for camper van. I am very grateful to have spoken to someone who managed the process so easily, flexibly and was able to provide solutions. Thank you
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 😊
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