It can be daunting to apply for a car loan in Perth & WA – especially if you don’t have all of the traditional documentation at your finger tips.
If that sounds like you, there’s no need to worry. You’re still be eligible for a low doc car loan. These loans are tailored to individuals who need to secure a vehicle but can’t access conventional proof of income. Often, that means ABN holders, sole traders and business owners.
To learn more about low doc car finance and start your application, get in touch with our crew or click ‘Apply Now’.
A low doc car loan is a type of vehicle finance that open the window for people who don’t have the usual documentation. Instead of providing pay slips or tax returns, you can apply with bank statements, accountant’s letters or a self-declared income form.
The application process is still simple and secure, just with a bit less red tape than a traditional loan.
Low doc car loans are designed for self-employed Aussies, sole traders, small business owners and ABN holders who don’t have the usual paperwork on hand.
We know that if your income is seasonal, irregular or still building, it can be hard to provide pay slips and tax returns. These loans give you a way to access finance without bearing the full load of documents.
The application process is still simple and secure, just with a bit less red tape than a traditional loan.
To qualify for a low doc car loan, you typically need an active ABN and one or more of the following:
These options are all different from traditional lending criteria. That’s because low doc loans are designed to make finance accessible for all kinds of Aussies.
But don’t forget, the more information you can provide, the more likely you’ll get approved! Learn more about low doc car loan requirements here.
Low doc car loans are built for business owners and ABN holders who don’t have traditional financial records. That means you can get a car loan with:
Whether you’re a tradie, freelancer or running a new venture, low doc loans offer flexibility without the paperwork headache.
At Loans Unlimited, our crew are specialists in navigating online auto finance. With access to over 40 lending partners, we can match you to someone that suits your circumstances.
Ready to get started? Click ‘Apply Now’ and complete your application in as little as 10 minutes!
You sure can! In fact, some lenders require an ABN that has been active for at least 6-12 months. If you haven’t been trading for that long, there’s no need to worry – other lenders offer more flexible options.
Not always. GST registration will certainly strengthen your application if you’re applying for a larger amount, but it’s not a requirement. Some lenders may approve your loan based off other documents like bank statements and income declarations.
It’s not common, but still possible. Most low doc lenders will want at least one form of income verification. Recent bank statements tend to be the easiest option.
If you need an alternative, try looking for BAS statements, accountant letters or income declarations.
Low doc car finance can vary depending on your lender and what documents you can provide. If your business income can support it, some lenders will offer up to $100,000, if not more.
Bonus tip: Offer a trade-in or make a sizeable deposit to boost your chances of a higher loan.
There’s no general rule for deposit requirements in low doc car loans. Many lender’s prefer at least 10-20% of the car’s value, but some are available with little or no deposit.
Nonetheless, a larger deposit will always improve your chances of approval and lead to better loan terms.
A low doc loan requires minimal documentation, normally just an ABN or bank statement and a self-declared income form. That’s why they’re so handy for sole-traders and small businesses
A no document loan requires no evidence at all. You won’t have to provide any information about your income, credit history or business activity. But there is a catch – these are much rarer and usually come with strict conditions and high interest rates.
