Used Car Loans & Rates for Business Owners.
Lenders That Approve More Used Vehicles!

  • Used Car Finance from $10,000 to $100k+
  • Specialist used vehicle finance for active ABNs
  • Qualify for more than initially thought or at a better rate
  • No deposit, 100% tax deductible options
  • Lowest rates for new & used work vehicles

Get Pre-Approved in Less Than 60 Seconds

Check if I qualify

Finance to support business owners

No Hassle Used Car Finance for Australian Businesses

Credit Score Protection: Genuine approvals without impacting
your credit score.
Highest Approval Rates: Assistance for those with minor credit impairments – Less than perfect credit is okay
No Buying Restriction: No purchase restrictions on industry, location, equipment or vehicle age
No Financials Needed: Experts in low doc, no doc finance – Specialist finance for ABN holders

How it works

1 Get a FREE quote

Fill in our quick 60 second form for pre-approval

2 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.


Pick and finalise finance.

Minimum Used Car Finance 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 Used Vehicles & Equipment





















Used Car Loan Advantages
That Many Don’t Know

When purchasing a used vehicle, finance options can vary greatly based on lender. If you are self employed or a business owner looking for a used business vehicle, don’t get blindsided with the wrong loan. Compare used vehicle loans across 70+ lenders and take advantage of extended tax benefits and more!

Low advertised rates are generally available to vehicles less than 2 year old. However that can even changed based on clocked kilometres. Rates start to steadily rise with the age of the used vehicle. Get specialised assistance on used car finance to get the vehicle or equipment you need for your business.

Quickly calculate and find your best used vehicle or equipment 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

Used Car Loan Rates For Businesses

Rates can change on a monthly basis. Currently the lowest rates from competitive lenders are in the 4% range. Lower rates are typically reserved for newer vehicles under 2 years of age. Rate increases on the age of the vehicle or equipment start to level off 5 years.

Review different business finance rates here.

Lenders Supporting Business!

  • GST & tax breaks for ABN holders
  • No deposit or paperwork options
  • Approvals & funding in as little as 24hrs
  • Secure finance for vehicles up to 20yrs in age
  • Specialised finance for vehicles over 20yrs in age

Applying For A Used Car Loan

People also asked

How do I finance a used or second hand car with my ABN?

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 ABN 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 on used car loans?

Yes, 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 and rates. There are however certain lenders that specialise in funding older or unique vehicles and equipment.

A generic guide in terms of vehicle age and rate:

– Under 2 years old, rates are similar to that of a new car purchase.
– 2 to 5 years old the rate can vary a bit with some noticeable increases.
– Rate increases tend to level off at the 5 year mark. ie 7 year old vehicle will have a similar rate to a 5 year old vehicle.
– Secure loans for used vehicles tend to stop at 20 years of age.
– Used vehicles or equipment over 20 years of age will typically be purchased with a unsecure loan.

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. Reach out to discuss options and understand purchase scenarios!

How can I improve my chances of qualifying for a used car loan?

Below are some of the best ways to improve your chances of approval.

– Register for GST as this tells lenders straightaway that your business turns over at least $75,000 a year.

– Have a deposit, the bigger the better. This helps reduce risk to the bank as the asset has some of your money against it.

– Strong banking figures showing good and steady cash flow/turnover.

– Incoming producing vehicles or equipment help demonstrate that they are earning their keep. Whilst it may be a depreciating asset, its generating income the whole time for the business.

– Having a good credit history goes without saying, will always help with approvals and better finance options.

Is a used vehicle cheaper with an ABN?

The overall costs of owning a new or used 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 used 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 type of insurance do I need if purchasing a used vehicle?

You’ll need to get a comprehensive car insurance policy just like you would if purchasing an normal vehicle, so it’s important to factor that into your budgeting.

What are used car loan requirements?

The below are general requirements a lender may request.

You’ll first have to confirm that:
– You are a active ABN holder
– That the vehicle will mostly be used for business purposes (i.e. more than 50% of the time)

Proof of Identity (one or multiple of the following)
– Drivers licence
– Passport or Proof of age card
– Valid Medicare card
– Valid credit card or debit card
– Can also use a valid Veteran card

Documents can include any of the following:

– Proof of residence via a rates notice
– Financial statements (ideally from an accountant)
– Bank statements (generally 2 months, possibly more)
– Recent Business Activity Statement (BAS)
– ATO Tax Agent portal report (generally for a trading period)
– Accountants letter confirming business activity
– Depending on trading structure: Income tax return and/or Personal tax return (1 financial year)

Other documents may be requested based on individual business circumstances. For those that may have a difficult time producing these documents, a low or half doc loan may be preferred.

Speak to a Comparison Australia partner to quickly learn about used vehicle or equipment finance options and what documents will be needed.

How fast can I get a loan to purchase a second hand car?

Depending on lender and what your after, there are very quick turnaround times for used car loans.  Borrowers can receive finance for a vehicle or equipment in as little 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.

Ready to get Pre-Approved?

Get a decision in minutes with no risk to your credit score

Get Started