No Doc Car Loans
Lack some paperwork but need a new company vehicle? Apply with us today and let us find you a lender who can get you behind the wheel.
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Lack some paperwork but need a new company vehicle? Apply with us today and let us find you a lender who can get you behind the wheel.
Unlocking car loan approval can be tough if you’re a sole trader earning an irregular income. It’s not uncommon to lack some of the important documents which can hold the key to getting you across the line.
While reputable lenders won’t offer “no doc” car loans, we can offer you some hope in your search for a new vehicle. Apply today and our consultants can assess what paperwork you have to find a lender best suited to your situation.
Our consultants know the simple tricks and tips to get your application approved, having worked with thousands of customers.
Our online process means there are no paperwork piles or long wait times; helping fast-track your application.
We can help Australians access fuss-free car finance no matter whether they live, from capital cities to regional centres.
You can borrow the full value of your new car without the need to make a hefty upfront deposit.
Car loan approval is attainable, even if you lack some of the paperwork usually required for a standard car finance application.
Our lenders can factor in income from different streams, including fixed Centrelink payments, when assessing your earnings.
Choosing between weekly, fortnightly or monthly repayments allows you to opt for whichever works best for your budget.
Don’t stress about defaults on your credit file. Our lenders focus on your financial situation here and now, not your past.
Available loan terms from one to five years allow you to choose how long you take to repay your car loan.
Get a quote from us online. It takes minutes and gives us an idea of what you’re after. One of our consultants will call you to discuss your options.
After applying, your consultant uses the latest technology to find you a lender who’ll give you the best chance of approval based on your profile.
Your consultant knows this process inside and out, so they’ll prepare your application for you. You may be asked for extra documents along the way.
Once your application has been approved, your consultant will email a loan agreement for you to sign so your funds can be released.
A low-doc car loan is generally your safest bet if you’re self-employed and find yourself searching for “no document” loan options. Make sure you qualify for a loan before you apply to save the headaches and heartache. While the requirements below serve as a guide, applications are assessed on a case-by-case basis, so you may be able to be approved even if you don’t hit all of the marks.
Eligibility
To be eligible for a low doc car loan, you must:
Documentation
You’ll be asked to produce three forms of documents with a low doc car loan. These can include:
Photo ID: You can submit a back and front copy of your current driver’s license or an Australian or foreign-issued passport.
Application: Your consultant takes care of this for you ensuring a fuss-free process.
Consent form: You’ll be required to sign a consent form agreeing to the terms and conditions of the car loan.
Business financials: Your lender may request several business documents such as your BAS, bank statements or a signed declaration of income.
Car value
The value of your car will directly correlate to your borrowing power. Car loans funds can’t be spent elsewhere, so the amount you’re approved for won’t exceed your new vehicle’s value.
What you can afford
When you’re tossing up what vehicle to buy for your work, it’s wise to choose something within your price range. Having a budget and sticking to it will make the payments on your loan manageable. Your consultant will calculate your borrowing power during the application process to ensure you aren’t overextending yourself.
On-road costs
Factor any on-road costs, such as insurance, registration and stamp duty, into your budget. You can roll these costs into your loan amount in some cases if you don’t want to pay them out of your own pocket upfront.
Ongoing maintenance
Cars need regular servicing and care to keep them in tip-top shape. Make sure when you’re budgeting for your new ride you consider the ongoing costs of fuel, regular services and insurance.
You’re more likely to be approved for a car loan if the car you want to buy is in relatively good nick. Because the car acts as security on your loan, having a good-quality vehicle will improve your approval chances.
Making a down payment on your loan is seen as a tell-tale sign of a good borrower. Lenders prefer borrowers who are willing to invest some of their own money when applying for finance for a car. It can also demonstrate to a lender you have strong saving habits.
You’re more likely to be approved for a new loan if you don’t have unresolved debts. Lenders run credit checks on all applicants to assess their risks, so cleaning up your file by clearing unpaid defaults and making on-time payments can make a difference.
The smoother your business’ track record, the better your approval chances. Maintaining a steady revenue, making on-time payments and not defaulting on loans will all help you get the thumbs up for your new car loan.