If you’re self-employed, run a small business or don’t have typical financial paperwork, you might be finding it difficult to secure car finance in Perth & WA.
But there’s no need to worry – a low doc car loan can be a practical alternative to standard loans. They allow you to apply with less paperwork than what is typically required.
At Loans Unlimited, we’re partnered with lenders across Australia who are willing to finance low doc loans. Our crew are here to make the application process quick, clear and a lot less painful that you might expect.
In this guide, we’ll break down what you actually need to provide when applying for these loans and how they work for ABN holders, sole traders and business owners.
Low doc car loans are a type of finance designed for people that don’t have full financial documentation, such as recent tax returns or standard pay slips. Instead, lenders assess alternative documents to verify your income and determine your ability to repay.
This type of loan tends to work best for:
Sole traders and self-employed workers
Small business owners
ABN holders with irregular income
Freelancers or contractors
Startups with limited financial history
Whilst they may open car finance up to a wider range of people, low doc car loans do come with some requirements.
If you’re applying for a low doc car loan, you’ll need an ABN that is active and registered for a minimum of 6-12 months (the longer the better). It should also:
Show ongoing business activity – like invoices, contracts, or bank statements
Be paired with GST registration (if your income exceeds the threshold)
Lenders want to know that your income is stable and verifiable, even if you’re a sole trader. As long as you can prove that, it doesn’t matter if it’s not coming in like clockwork.
Recent business bank statements are one of the most commonly requested documents. Records from the past 3 to 6 months help lenders see:
Your average income
Any significant business expenses
Whether you have enough regular cash flow to support repayments
If you don’t use a separate business account, some lenders will be happy to assess your personal bank statements.
Instead of full financial records, you can get low doc car finance by providing:
A self-declared income statement
An accountant’s letter confirming your income and business status
Most lenders prefer an accountant’s letter. They’re typically viewed as a stronger indicator because they’re signed by a qualified practitioner.
Like any other loan, you’ll need to prove your identity and provide personal details. That usually includes:
Your driver’s licence or passport
Medicare card or utility bill (to verify your address)
Date of birth and contact information
If you’re applying jointly with a partner or business partner, they will have to provide that information too.
Your lender will also like to know some basic info about the car you’re looking in to. That includes the:
Make and model
Purchase price
Whether it’s new or used
Where you’re buying it (e.g. dealership or private sale)
It’s important to know that some lenders have specific age and value limits for vehicles financed under low doc loans. That might stop you looking at older, used cars.
Yes and no. While there might be fewer documents to provide, the lender will still assess your credit score, the loan amount and your overall financial position. You don’t need perfect credit, but you do need to show that you’re a reliable borrower who can meet the repayments.
At Loans Unlimited, our crew work with 40+ lenders and plenty of them offer flexible low doc car loans. We can help match your situation to the right financing option.
This type of finance doesn’t have to be confusing. While the name might suggest you can skip the paperwork, there are still some important obligations you have to meet. However, there are a lot less hoops to jump through than a traditional loan.
Whether you’re self-employed or a contractor, the Loans Unlimited crew can help you gather what you need and move quickly towards an approval.
Click ‘Apply Now’ to get started!
Start the pre-approval process and let our crew simplify your low doc car loan.
