Running your own business or working as a contractor often comes with its challenges, such as proving income when it’s time to buy a new vehicle. That’s where low doc vehicle finance comes in. These loans are designed specifically for ABN holders and business owners who don’t always have the latest tax returns or full financials ready to hand over to the bank.
At AAA Finance, when you apply for a low doc vehicle loan, we make the process simple, fast and stress-free. Here’s what you need to know before getting started.
Apply for a Low Doc Vehicle Loan
1. Who Can Apply for a Low Doc Vehicle Loan?
To qualify for a low doc car loan, you’ll need an active Australian Business Number (ABN). Most lenders prefer your ABN to have been registered for at least 12 months, although some options are available for newer businesses. If your ABN is also GST registered, it can improve your chances of approval, as it shows lenders you’re generating a turnover above $75,000.
Please read our blog for a more insights into the eligibility criteria for low doc vehicle loans.
2. Business Use Requirement
The vehicle must be used primarily for business purposes – meaning more than 50% of its use should relate to your work. Business use looks different for every industry.
- ✅ Example: A mobile dog groomer driving to client homes can clearly claim business use.
- ❌ Not eligible: A café owner driving from home to their fixed café location (this counts as private commuting).
If you’re unsure whether your situation qualifies, our team can guide you through what the ATO considers “business use.”
3. Low Doc – What Paperwork Do You Need?
Unlike traditional loans, you won’t be asked for up-to-date tax returns. Instead, lenders usually require some form of income verification, which could include:
- Business bank statements
- BAS statements
- An accountant’s letter
- Profit and loss statements
Each lender’s requirements vary – one of the benefits of working with AAA Finance is that we know exactly which lenders to approach depending on your circumstances.
Find out more about the documents required for ABN low doc car finance in our comprehensive blog.
4. Credit History Matters
Even with low documentation, lenders will look at your credit file. A strong repayment history makes approval easier and can unlock better interest rates. To protect your credit score:
- Avoid too many loan applications
- Pay bills on time
- Steer clear of payday loans
AAA Finance acts as a single point of contact with lenders, meaning only one enquiry goes on your file – a big advantage compared to applying directly with multiple banks.
5. Know Your Numbers
Before signing up, it’s smart to get a clear picture of your budget. Our car loan calculator lets you adjust the loan amount, term, interest rate and balloon payment option to see how repayments could look. Many business owners choose a balloon payment to keep monthly repayments lower and preserve cash flow.
Our online car loan calculator is easy to use and can give insights into how including a balloon payment can affect the monthly loan repayment.
6. Vehicle Choice and Add-Ons
Think about the type of vehicle that best fits your business. Is it a ute or van for practical trade work? Or perhaps a car that represents your brand to clients? Buying new can mean access to warranties, lower interest rates and the ability to roll in accessories such as toolboxes, canopies, tow bars or fit-outs into the finance amount. That way, your vehicle is ready to work from day one.
7. Work With a Finance Expert
Low doc loans aren’t “one size fits all.” With over 40 lenders on our panel, AAA Finance matches you with the right lender and the best deal for your situation. Our brokers have decades of experience helping self-employed clients secure vehicle finance – often with pre-approval in 24 hours.
Apply for a Low Doc Vehicle Loan Now!
A low doc vehicle loan could be the smart move your business needs – helping you secure the vehicle that keeps your work moving without the hassle of endless paperwork.
📞 Call our AAA team today on 07 5493 1222 or start your enquiry online. We’ll guide you through the process, answer your questions, and find the loan that works best for your business.
