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Low Doc Car Loans

Low Doc Car Loans are designed to assist self employed borrowers. No income substantiation is required however stability of business / strength of assets and liabilities with self-certification of your ability to make repayments normally applies
 
Purpose Business purpose only - 3 years trading & MUST be ABN & GST  registered
 
Asset Type

NEW Vehicles or Used up to 3 years No sale/leaseback or private sales / Commercial vehicles up to 3.5 tonne
 

Loan Amount From $15,000 up to $100,000
 
Requirements
  • If 3 years trading & a property owner, approval up to $35K

  • If 5+ years trading, can approve up to $35K - (property ownership not required)

  • If 3 years trading and 2 years ABN vehicle purchase will be considered to $100,000 if 30% cash deposit is available (trade-ins can be used to reduce the loan amount) or applicant or Director has enough equity in property to cover purchase price. A leasing credit reference or Last 2 quarters of lodged BAS statements and 6 months of business bank statements required.

Documents Required Two trade references, ABN, Tax invoice, letter of contract, 3 months personal and business banking statements, Assets & Liabilities for Directors
For Property Owners - Rates notice, current mortgage statement
 
Loan term 12 – 60 months
 
Credit related issues Clean credit only
 
Lease Type CHP / Chattel Mortgage
 

Fill out our contact form now to find out how we can help You.

 

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