No Doc Car Loans

Looking to expand or upgrade your business vehicle?  No Doc car loans are a quick and easy finance option for established businesses.  They require no financials or proof of income and allow self- employed and small to medium business owners to finance all types of vehicles.

How do I qualify for a no doc car loan?
What can I purchase with a no doc car loan?
What are the advantages of no doc car loans?
Car loan repayment calculator with balloon option
Why use AAA Finance?
Apply for a no doc car loan

What is a no doc car loan?

A no doc car loan is a type of business loan.  ‘No doc’ essentially means no documentation.  In other words, no formal financial documentation, such as tax returns, BAS or bank statements are required to secure finance.  As a business loan the asset being purchased must be used predominantly for business use.  That is the car must be used greater than 50% of the time to help generate income for the business.  A no doc car loan suits long term successful businesses that either do not have up to date financials or do not wish to share this financial information with lenders.

Read about LOW DOC CAR LOANS here.

How do I qualify for a no doc car loan?

To qualify for a no doc car loan, you will need the following:

1. Business ABN active for a minimum of 12 months*

Lenders look to see how long a business has been running.  If you have been running for a number of years and the business is your only or major source of income, lenders can conclude that your business is profitable.  Every lender has different lending criteria and as such the minimum ABN age differs from lender to lender.  Furthermore, lending criteria are updated regularly, especially in the current financial climate. An experienced finance broker, with access to a large range of lenders, can navigate the lending market to ensure you get best finance deal possible.

2. GST registered business ABN

When a business is GST registered it immediately demonstrates to lenders that your business has a turnover greater than $75,000 per annum.

3. Asset backed

Owning or having a mortgage on your principal place of residence or investment property demonstrates that you have a solid history of making regular mortgage repayments.  You are also building equity in the property.  Being asset backed proves to lenders that you are running a successful business which is providing sufficient income to cover all your personal and business expenses in addition to making regular mortgage repayments.

4. Good credit record

All credit enquires, loans and repayment history are listed on your business and personal credit files.  Your credit score is a indication of the risk of an adverse advent occurring with a loan. An adverse event is a late payment or default on the loan. A lender will want proof of income if you or your business has a history of late loan repayments, defaults or declined loan applications.

5. Signed income declaration

Although no formal financial documentation is required for a no doc car loan you will still need to declare an estimate of your business net turnover and gross profit.  You will be required to sign a declaration that states that you will be able to meet the required car loan repayments.

6. 0 - 30% Deposit

Some lenders will want a deposit towards the purchase of your business vehicle.  This can vary from nil to 30% of the vehicle purchase price.  Again, this demonstrates to lenders that your business is cash flow positive.

Let out team know if you want to pay a deposit and how much you are willing to put forward. Our experienced finance brokers are here to help you get the best deal possible that suits you!


What can I purchase with a no doc car loan?

A no doc car loan is a type of business loan and hence the vehicle must be used in the business to generate income.  Any type of vehicle that fits this criterion can be finance using a no doc car loan facility.  Some examples are listed below.

A mobile accountant would also be able to justify that their vehicle is business related.  The business model is based on travelling to client’s homes or businesses to generate income.  Any mobile service business would be able to utilise a business loan facility.

A trades persons ute carries the worker and tools to job sites and is therefore deemed as income generating.  When purchasing a new ute, accessories such as a bull bar, tow bar, ladder rack, ute canopy etc can be added and included in the finance amount.  This allows a business owner to have the right set up from the get-go.

Vans and small trucks used for deliveries would also fit the bill.  Furniture delivery, couriers, removalists, mobile coffee vans and the list goes on.

Home based businesses can claim the cost of trips between home and other places if the travel is for business purposes.  Travel could include to a client’s premises, to your accountant, to purchase supplies or equipment for your business and to the post office.


What are the advantages of no doc car loans?

  • No financials required.
  • Loan terms from 1 to 7 years.
  • Fixed monthly repayments.
  • Tax breaks – GST on the purchase price, interest on the loan repayments, instant asset write-off
  • Competitive low interest rates
  • Balloon payment options – up to 50%

Car loan repayment calculator with balloon option

As a business owner you need to know that any new purchases are going to fit into the budget and maintain positive cash flow.  Our easy-to-use car loan calculator requires 3 inputs – loan amount, loan term and interest rate.  The calculator will generate a monthly repayment based on your inputs.  The calculator also has a balloon payment option.  Balloon payments are a lump sum payment due at the end of the loan term.  The advantage of including a balloon payment in your no doc car loan facility is that it reduces the loan repayment amount during the term of the loan. At the end of the loan term you may wish to sell the vehicle, pay out the balloon and finance a new work vehicle. This allows you to regularly update your car and access any associated tax breaks.


Why use AAA Finance?

Experience - AAA Finance has a team of experienced finance brokers.  We will listen to your specific needs and match your unique situation with the most appropriate lender and loan facility to benefit you. 

Large panel of lenders - AAA Finance has over 40 different lenders.  Our job is to find the right lender at the most competitive interest rate. We will navigate the lenders rules and regulations to get you the best no doc car loan outcome.

AAA customer service – Our motto is ‘quick and easy finance solutions’ and this is what we strive to achieve for each and every client.  We know that business owners are busy people.  Our job is to take the hassle out of finance and let you get on with running your business. We will have open and clear communication and will keep you updated on the progress of your loan.

Apply for a no doc car loan

Want to talk with a finance expert?  Let the AAA Finance team take the hassle out of securing your business vehicle finance.  Contact AAA Finance today on 07 5493 1222 or fill out our online contact form and one of our experienced finance brokers will be in contact promptly.


No doc car loans FAQ’s

What is a no doc car loan?

A no doc car loan is a type of business loan that does not require any proof of income. No doc essentially means no documentation.  This type of loan suits established businesses who are asset backed.

Can I get a car loan with no proof of income?

Yes.  A no doc car loan does not require proof of income.  You will need to estimate your net turnover and gross profit and sign a declaration stating you have the capacity to make the loan repayments.  Each lender has different qualifying criteria.

How long does it take to approve a no doc car loan?

Apply for a no doc car loan through AAA Finance and in most circumstances, we will have your no doc car loan approved within 24 hours. 

No Doc Car  Loans | AAA Finance


Useful link

The ATO website has information to assist home based businesses wanting to claim car expenses.

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