Thousands of ABN Holders Eligible For
Reduced Rate Low Doc Car Loans
- Low Doc Car Loans from $10,000 to $250k+
- Specialist finance for active ABNs – Available to all industries
- Qualify for more than initially thought or at a better rate
- No deposit, 100% tax deductible options
- Lowest rates for new and used vehicles
Get Pre-Approved in Less Than 60 Seconds
Finance to support business owners
No Hassle Low Doc Car Loans for Australian Businesses
How it works
Get a FREE quote
Fill in our quick 60 second form for pre-approval
Get the BEST finance
Based on your information we will compare finance across our panel of lenders and provide you with the best loan options available.
Get FUNDING
Pick and finalise finance.
Minimum Low Doc Car Loan Requirements
Are over 18
Have a current and valid drivers licence
Are an Australian resident or citizen
Have a valid ABN or ACN (new or existing)
Flexible Finance For All Types of Vehicles & Equipment
Low Doc Car Loan Advantages
That Many Don’t Know
If you are self-employed or a business owner looking for a new or used vehicle, you can access exclusive low doc car loan rates for ABN holders only. Compare low doc loans across 70+ lenders and take advantage of extended tax benefits and more! Get specialised assistance covering all loan types from no deposit options to different low doc solutions for new or existing ABNs.
Purchase any type of vehicle: Car, Ute, Truck, Van, Trailer, equipment etc.
Quickly calculate and find your best low doc car loan options for your business with no impact to your credit score!
- 1 day business continuance ABN
- Larger balloons & more flexible terms
- Lowest rates through direct lender negotiations
- ABN loan options with no credit check
- Easy low doc replacement policies
- Low doc to $100k for new ABNs
- Low doc to $250k for ABNs + home owner
Low Doc Finance Designed For ABN Holders
At Comparison Australia we make low doc car loans for ABN holders simple. No hassle for all businesses regardless of size, time in business, industry, or location.
Access the best low doc car loans & get the lowest rates across 70+ lenders & banks.
Lenders Supporting Business!
- GST & tax breaks for ABN holders
- No deposit or paperwork options
- Approvals & funding in as little as 24hrs
- Secure or unsecure low doc finance
- Purchase new/used vehicles or equipment
Applying For A Low Doc Car Loan
People also asked
What is a low doc car loan?
You can finance a new/used vehicle or equipment through your ABN (business) with most lenders. The main criteria is to be able to prove to lenders and the ATO that it will be used for business purposes and qualify for the loan.
With regards to lenders, borrowers can access both full doc or low doc car finance options and in some cases half doc.
Full doc finance is a traditional loan and may require a large amount of paperwork; including tax returns, bank statements, business activity statements and up to date accounts. Rates for full doc loans are often lower than low doc finance.
Low doc finance is popular as it requires less paperwork along with a bit more flexibility in approvals. General lender requirements for low doc finance may include; recent BAS or from previous year, summary of business accounts, possibly a deposit or be asset backed.
Half doc finance is obviously in the middle of the other options, typically requiring documents like a BAS + 6 months bank statements.
In all cases the better your credit the better your rate and chances of approval.
A quick chat with the Comparison Australia team can quickly highlight options across our large panel of lenders.
Are there any purchase restrictions with a low doc loan, can I buy a used car?
Each lender will have its own criteria based on the age of the vehicle/equipment, LVR amount and credit assessment. In most circumstance the newer the vehicle or equipment the better for approvals. There are however certain lenders that specialise in funding older or unique vehicles and equipment.
Comparison Australia’s partners have access to 70+ lenders and banks making it easier for borrowers to find a lender that will fund most things.
What are the main reasons businesses get declined for a low doc car loan?
The main reasons a business owner may get knocked back from finance include:
– ABN age and activity. Those with a short trading history may not be able to demonstrate steady income. (However there are instance where 1 day ABN’s or business continuance can be approved due to prior history)
– Not being GST registered will reduce options, often reducing the amount a lender will provide.
– Poor credit or banking conduct. Low running balances, late fees or dishonours will often lead to a decline in funding.
– Negative or low cash flow will impact serviceability resulting in declines. The business must show the capacity to repay the loan on top of general business running costs.
– Business in liquidation or being de-registered by the government will not be able to borrow.
The above are some of the more common reasons a business will not qualify for finance. By speaking with a Comparison Australia partner, they will be able to quickly outline potential options if your dealing with any or multiple points above. Whilst borrowing options will be reduced or tricky, there still may be specialist lenders willing to provide funds.
Can I get a low doc car loan if I have bad credit?
Having bad credit does not stop your chances for a low doc car loan approval. A bad credit profile will reduce the amount of options available and typically come with a higher rate.
At Comparison Australia, our partners have access to over 70 lenders and banks. Learn about what options are available through our large panel of lenders. We assist those with less than perfect credit with finance options everyday.
Is a car cheaper with an ABN?
The overall costs of owning a vehicle through your business can be cheaper as there are GST & other tax breaks available.
How long does a business need to be trading to get low doc car finance?
Most lenders prefer your ABN be active for at least two years. However, there are certain lenders that will accept 1 year ABN’s or less based on different circumstances such as ‘business continuance’ or strong cash flow.
A quick chat with Comparison Australia partners can provide current options across different lenders and their ABN length requirements.
What documents do I need for a low doc car loan?
This will differ from lender to lender however, some combination of the below are common document requests.
– Self-verification via income declaration form
– Recent business business activity statement (BAS)
– Your ABN and/or registered business name
– Recent bank statements
– GST registration info
– Letter from accountant outlining your financial position
We can provide detailed information on low doc car loan & half doc finance options by lender to remove the hassle of documentation.
How fast can I get a low doc car loan?
Depending on lender and what your after, there are very quick turnaround times for low doc loans. In certain circumstances borrowers can receive unsecure funds in the same day or within 24 hours. Borrowers after a secure loan for a vehicle or equipment can get funding as quick as 24 to 48 hours.
Quick funding is dependant on having all documents required by the lender ready to go for immediate assessment and approval.