Low-Doc Car Loan

For ABN holders, self-employed, and business owners who do not earn a traditional income. 

Why Gusto Finance

30+ years of experience
in car finance
and sales.

Contact our team of expert car loan brokers today!

Unlocking Business Finance

Being able to access finance as a sole trader or business owner can be critical to the ongoing health of your business. In some cases, all you need is an ABN and your ID, and you have a fast pathway to approved finance. 

Tax Benefits

You own the asset and costs like depreciation and interest can be claimed as a business expense in most circumstances. There are a range of tax advantages with a low-doc loan, but always seek professional advice. 

Fast Approval

A low-doc loan application prepared by a broker, and assessed by a specialised business credit assessment team means faster approval times. We often have low-doc loans approved in minutes, not hours. And same-day funding is common. 

Less Documentation

A low-doc loan requires less paperwork than a standard loan – it’s all in the name! If you are asset-backed and have a deposit then you may not need any financials at all! freeing up your time to get back to business fast! 

How we can help secure a low-doc loan and a great rate:

The Gusto Edge

A team of expert finance brokers with deep industry knowledge and access to: 

How does it work?

The Gusto Way

Fast track your low-doc car loan application by speaking to our expert team of brokers today. They will find a great deal and take care of the process from start to finish.

Preliminary Assessment

Our expert car loan brokers will match you with a suitable low-doc lender and ensure documentation is complete.

Application

Submit the completed application to the most suitable low-doc lender to ensure a fast outcome.

Approval

Sign the the contract and get approved in as little as 24 hours.

On Your Way

Fast processing of the settlement so that you can be driving away in no time! 

Loans Also Available Through Gusto Finance

Speak to our brokers today about the best vehicle finance solutions for your circumstances. 

Low-Doc Car Loan FAQs

Questions? We're Glad you Asked.

Here’s a little more about how we operate to best serve our customers who are looking for a low-doc car loan. Got a more specific question? Feel free to get in touch.

A low doc car loan refers to a type of vehicle finance tailored for self-employed individuals and small business owners with an ABN who may not have standard income documentation.

These loans are particularly helpful for sole traders and businesses that can’t provide full financial statements. While you won’t need to submit traditional proof of income, some lenders may need supporting details about your business. But we aim to always find you the path of least resistance. 

You can finance any vehicle that will be used predominantly for business purposes. This can include, but not limited to:

  • Cars
  • Vans
  • Trucks
  • Caravans
  • Boats

Some other commercial vehicles such as a forklift could also be financed via a low-doc loan. 

A low-doc loan is also suitable for refinancing of other loans, and balloon payments. 

Depending on your situation you may only need to provide: 

  • ID
  • ABN registration > 6 months

In more complex cases you may need additional documentation which could include: 

  • GST Registration
  • Business Activity Statements (BAS)
  • Tax returns (up to two years)
  • Evidence of cash to be used for a deposit
  • Details of any property owned

Not all of the above will be required on every application. It can vary a lot depending on your situation. 

To qualify for a low-doc loan you must have an ABN registered for at least 6 months. 

As part of your initial consultation we will do a “soft credit check”. This does not affect your credit score and will not show as an inquiry on your credit file.

Once we submit your application to a lender they will always complete a full credit check as part of your loan assessment. This will show up as an inquiry.

The purpose of a low doc loan is to make finance available for those who do not earn a regular PAYG income. If you own property and meet the ABN registration threshold then financials may not be necessary. 

More complicated deals may require 6 months of business financials rather than person income.

Small business owners and self employed often have fluctuating cash flows and require a different form of credit asessment. The assets, debts, and activities of your business rather than your personal income is what will determine your eligibility for a low-doc loan. 

A deposit is not always required for a low-doc car loan, especially when the application is backed bny an existing asset. However, a deposit can strengthen your application significantly if you choose to contribute some cash to the purchase of the asset. 

Yes, bad credit car loans are our specialty! We have a number of lenders on our panel who will lend based on current behaviours rather than focusing only on past mistakes. 

If you are not yet ready then we can help wth some general guidance for how to improve your credit. 

Less financial documentation for the lender to analyse means greater risk. As a result, the interest rate is going to be higher than a traditional consumer car loan. But you also have a business to run, and the opportunity cost of no vehicle can be far more significant.

A low-doc loan facilitates immediate ownership of the asses. Unlike alternative business finance structures such as a lease or hire purchase agreement. Therefore, things like depreciation can be claimed as an expense in addition to interest and maintenance costs. We encourage you to speak to your accountant to fully understand the tax advantages of a low doc loan.

While approval is not guaranteed, a complete application can sometimes be assessed in under an hour and funded the same day!

Other more complicated applications could still be fully assessed in less than 24 hours. A low doc loan has less documentation and an outcome can usually be achieved quickly. 

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