What’s Required to Get Commercial Car or Fleet Finance in WA?
Commercial car loans are designed to keep WA small businesses on the road without draining cash flow. At Loans Unlimited, we’re proud to have helped countless operators streamline operations and secure a brand new vehicle.
But before you apply, it’s worth knowing what our crew and lenders will expect. In this article, we’ll explain what you’ll need to get commercial finance and how you can improve your chances of approval.
For more information, speak with our office, use our calculator or start your application by clicking “Apply Now”.
1. A Valid ABN
You’re applying for commercial finance, so lenders will need proof that you’re operating under an active Australian Business Number.
Some lenders will also want to see other evidence of business activity, like bank statements, business plans and financials. This can be especially helpful if you’re after a low doc loan or your business is brand new.
2. Proof of Your Ability to Repay
If you haven’t supplied documents already, you’ll need something that gives lenders the confidence that you can repay. You could submit:
Recent (3-6 months) business bank statements
BAS or other documentation to reflect ongoing turnover
Profit-and-loss statement, tax returns or financials prepared by an accountant
Lenders want to see consistent, stable income and/or a business with clear growth potential. If you can prove that, you’ve taken one step toward an approved application!
3. Evidence of Primary Business Use
To get a commercial vehicle loan, the vehicle has to be used primarily for business purposes like site visits, transportation of goods or deliveries. “Primarily” typically means 50% or more of use time.
If your vehicle will be used largely for personal reasons, you’ll need to consider a personal car loan. Luckily, our crew can help with those too!
4. Identification & Personal Details
Just like any other loan application, we’ll need you to supply proof of identity. Lenders will also want details that confirm the business owner/director associated with the ABN.
Documentation requirements are more flexible for low doc applicants, but identify verification is a non-negotiable.
5. Vehicle Details, Loan Type & Deposit (If Required)
Our crew need to know what you’re financing, whether it’s an entire rental car fleet or a single van. A quote or invoice from the seller or a sale agreement will work just fine! You’ll also need to tell us what type of loan you’re hoping to secure, for example:
Secured or unsecured
Low doc or “full” doc
Chattel mortgage or hire-purchase
Your choice will influence interest rates and approval times, so ask our crew if you’re unsure what works best for your company. With 40+ partnered lenders, we’re sure to find someone unfazed by your circumstances.
Finally, inform us whether you intend to make a deposit (and how much it will be). This is another important detail that helps our crew find the best lender for your business.
Car, Van and Fleet Finance Checklist for WA Business Owners
Our crew know applying for a loan can be stressful, so they’ve put together this 5 step guide to take the gravity out of commercial finance:
Gather your documents early: ABN, bank statements, BAS, ID and address – get everything ready to speed up the rest of the process
Have a clear business use case: Be ready to explain how the vehicle will support your operations, whether it be deliveries, jumping between job sites or visiting clients
Decide on loan type: Secured vs unsecured, full-doc vs low-doc – if you’re unsure, get in touch with our office
Be honest about your credit history and cash flow: Lenders are thorough, so keep everything transparent to avoid future issues or delays
Speak to Loans Unlimited: We’re partnered with 40+ lenders who want to help WA small businesses with fast approvals and fair finance.
Apply Today and See Why Perth Businesses Choose Loans Unlimited for Car & Fleet Finance
If you own a business in WA and need a new vehicle to get the job done, it doesn’t have to deplete your capital. Commercial car finance with Loans Unlimited is a simple and practical solution to keep your operations running smoothly.
Our goal is to make the finance process as easy and flexible as possible. As long as you have your documents ready and a clear business purpose for the asset, we can secure full approval in as little as 3 business days.
To start your application for commercial car or auto fleet financing, click “Apply Now” and get pre-approved in 1 hour.
