Low Doc Car Loans

AAA Finance specialises in providing business owners with quick and easy low doc car loans. Our experienced finance brokers can save you both time and money. Experience the AAA difference - competitive interest rates, loans approved within 24 hours, easy application process, 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 finance. These include the following:

  1. No paperwork - no problems!
  2. Speedy loan turn around time
  3. GST and other tax breaks for ABN holders
  4. Fixed low interest rates
  5. Easy monthly repayment structures
  6. Loan terms lasting up to 7 years
  7. Balloon payment options of up to 35%

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. Please note that every lender has different requirements. For instance, documentation could include business bank statements, business activity statement (BAS), profit and loss statement and / or an accountants letter.

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 ABN car finance are able to claim both tax deductions and GST benefits if they are an ABN holder. Anyone in this situation may be able to claim the interest on the car loan as tax-deductible. 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 doc car loan 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 ABN 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 ABN car finance 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 ABN car finance 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

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

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

Does the vehicle being purchased via a low doc car loan have to be used for business?

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

How long does a low doc car loan approval take?

Most low doc car loan approvals take 24 hours.

What do you need for a low doc car loan?

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.

How does low doc car finance work?

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.

Is it hard to get a low doc car loan?

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.

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

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

Do low doc loans have higher interest rates?

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.

What information do I need for low doc finance?

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 9/11/2023 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.

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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