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Low-doc car loans for self-employed and ABN holders
Self-employed, a sole trader or a new ABN holder? Banks often want two years of tax returns before they'll lend. Several of the 40+ lenders we work with will assess you on BAS statements, business bank statements or an accountant's letter instead.
We finance cars, utes, vans, trucks and equipment on low-doc terms for businesses right across Australia, all by phone, email and e-signature.
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My Finance Hub Pty Ltd (CR: 553769) | ACL: 486112 | 101 Moray Street, South Melbourne Vic 3205
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Getting a quote won't affect your credit score. Quotes are indicative only. We don't run a credit check unless you decide to apply and give your consent. Final rates, fees and approval depend on the lender's assessment.
Who low-doc finance suits
Sole traders and contractors
Your tax returns don't yet show what you really earn, or they're not lodged yet.
New ABN holders
Some lenders consider ABNs registered for less than two years, usually with a deposit or relevant industry experience.
Growing businesses
Your income has jumped recently and last year's return doesn't reflect it.
Business owners short on time
You'd rather not pull together full financials for a vehicle or equipment purchase.
What you'll usually need
- An active ABN (and GST registration for some lenders)
- Recent BAS statements or business bank statements
- An accountant's letter, in some cases
- Driver's licence and details of the vehicle or invoice
- A deposit, depending on your situation and the lender
Rates, deposits and what to expect
Low-doc loans can cost a little more than full-doc loans, and the deposit and term depend on your credit history, how long your ABN has been active and the vehicle. We'll show you the rate, fees and repayments in writing before you decide, and if a full-doc loan would be cheaper for you, we'll say so.
How it works
- Quote: call 0424 777 688 or use our online quote tool.
- Compare: we check 40+ lenders and put the rate, fees and repayments in writing.
- Documents: send what the lender needs by email.
- Sign and settle: you sign electronically and the lender pays the dealer, seller or you directly.
FAQs
Can I get a car loan with a new ABN?
Often, yes. Some lenders will consider ABNs registered for under two years, usually with a deposit, good credit history or relevant experience in your industry.
Do I need tax returns for a low-doc car loan?
No. Low-doc lenders typically use BAS statements, business bank statements or an accountant's letter instead of tax returns.
Are low-doc car loan rates higher?
They can be slightly higher than full-doc loans, depending on the lender and your situation. We compare options so you can see the difference.
Can I use a low-doc loan for a ute, truck or equipment?
Yes. Low-doc options are available for cars, utes, vans, trucks, trailers and many types of equipment.
Does it cost anything to use you?
We may charge a broker fee, and we receive commission from the lender. Both are set out in your quote and our Credit Guide before you go ahead.
Low-doc car loans across Australia
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General information only. It doesn't take into account your objectives, financial situation or needs. Credit criteria, fees and charges apply. My Finance Hub is a Credit Representative (553769) of Purple Circle Financial Services (Australian Credit Licence 486112).