Looking for Low doc car loans in Australia, whether buying a new, demo or used, look no further, call Realloans car finance broker now.
We have been providing low doc financing to self-employed Australia at best interest rate.
What is low doc car loan in Australia
Low Doc Car Loan or Low Documentation car loan is same as any other loan but with minimal documentation. In most cases, for low doc business car finance, what you need is application form, proof of identification, signed privacy form and self-declaration form.
A Low doc car loan is available for self-employed individuals, sub-contractors and businesses with ABN who are looking for business car loan with low or no documents.
If you are seeking low doc loan and lack of relevant documents, Realloans is here to help you. If you are sole trader or small business owner with ABN (1 day ABN or 1 year old, it doesn’t matter) and need a low doc car loan, don’t worry just contact Realloans.
Realloans is not only confined to low doc car loans we have truck load of options available, home loan, personal loan, business loan, equipment loan, truck/trailer, caravan and many more.
Car loan for self-employed or business owners
If you are seeking loan and don’t have relevant documents Realloans is here to help you. If you are sole trader or small business owner/holding ABN for at least 1 year and seeking low doc car loan Realloans is here to help you.
Low doc car loans are a flexible finance solution for self-employed people or private businesses who cannot disclose or verify their income. At RealLoans Australia, we have access to a large panel of lenders who provide low doc cars loans to suit a range of atypical situations.
Realloans is not only confined to low doc car car loans we have truck load of options available, home loan, personal loan, business loan, equipment loan, truck/trailer Finance and caravan.
How Low Doc Loans Works
Considering a low doc loan for buying business car? Here’s how it works:
- Complete our online application and provide the required documents
- We will compare and find the right low doc car loan.
- Sign manually or electronically and return your loan contract
- Obtain your new funds within hours of approval
Low Doc Car Finance Requirements
When it comes to low documentation car finance, every lender have their own requirement. Whether is car loan for new business or well established company, or new self employed sole trader contractor, each lender see them differently. Below are some other common requirements.
- You must be Australian citizen/permanent resident or visa holder.
- You must have valid driving license.
- You must have registered ABN.
- Loan vehicle must be used more than 50% in business.
- We do not require any documents.
- Trust deed or partnership agreement (if applicable)
- Seeking a car loan, you must have good credit history.
Low doc car loan Interest rate Australia
The low doc car loan in Australia comes with fixed interest rate, the amount of interest rate depends on
- How old is your ABN. Older is better, but new businesses and start-ups with less then 1 year old or 1 day ABN can also apply.
- Whether you are buying new/demo car or used car.
- Whether you are buying from private seller/Dealer
- Credit history – Low doc interest rate varies depending upon your credit score.
- Property owner or renting/boarding.
Low Doc Car Loan FAQ
Every lender is different. The minimum requirements for a low doc car loan is 1 year ABN and 1 year GST registered.
We have lenders that can lend to 1 day ABN or new businesses or startups.
In Full doc car for businesses, the banks need full 2 years tax return and 2 NOA. Banks may also ask for bank statements, BAS, profit and loss statement. But with low Doc car loans you don’t need bank statement, profit and loss statement, BAS or Tax returns.
Yes – the vehicle must be used predominately for business use, which means the vehicle should used for more than 50% for businesses related use.
As soon as you submit all relevant documents. Lender will take 24 hours to approve you submitted documents.
Most low doc car loan approvals take 24 hours.
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.
Yes, you can get a low doc car loan with “NO” or 0% deposit if you are a property owner. Some lenders can lend 100% to buyer who are renting or boarding.
Yes, you can still get a low doc loan in Australia. Whether you are Melbourne, Sydney, Brisbane, Gold Coast, Adelaide, Perth or any other city or town in Australia, With Realloans you can apply for low doc loans for car loans, home loans, business loans, asset finance or equipment finance.