New Business Car Loans the Easy Way

The enthusiasm for setting up a new enterprise can quickly disappear when it comes to sourcing affordable credit to purchase motor vehicles. We support operators setting-up a new enterprise to maintain that enthusiasm with an easier and faster way to source affordable motor vehicle financing.

Fast, Efficient, Easy Comparisons for Car Finance New Business

Start-ups need to ensure their initial expenses will work with projected income. To assist in the planning stages, we’ve set up this comparison table to enable vehicle buyers to evaluate their options ahead of submitting their application. Compare vehicles under consideration, compare credit facilities, compare options for terms and balloons. Results on target? Request a quote and get to the dealership to place your order.

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Loan Product Interest Rate Monthly Repayment
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*The comparison rate shown is calculated based on a $30,000 loan for a 5 year term. The results derived using this calculator should be utilised for indicative purposes only. The repayments calculated are based on the advertised interest rates and do not include the charges and fees applicable by lenders. The results shown do not in any way represent a pre-approval or re-qualification for finance, they do not represent a finance quote. The exact details pertaining to your finance will be provided in any loan contract or offer. It is advised that those seeking loan quotes contact us directly so tailored advice can be provided.
Woman inside a car smiling.

How Our Service Helps New Business with Car Loans

Our service can be a major help for start-ups of all types and across all industries to secure affordable motor vehicle funding quickly and efficiently. Some lenders do have to operate to strict approval guidelines when assessing applications. That can mean, if all the boxes are not ticked, the application is rejected.

  • Lenders that approve new business car loans.
  • Matching lender and customer done for you – no searching required.
  • Australia-wide services

 

For start-ups, the major hurdle is with meeting the criteria for financials and for minimum trading period. But there are lenders that address this scenario with Low Doc and No Doc Vehicle financing. As a vehicle finance broker, we have connections with these types of lenders, as well as many others. By applying through us, we quickly identify which of our large number of lenders specifically suits your application and profile. We source a quote from them for you, deliver the quote to your inbox and your own your way to purchasing that vehicle with affordable funding.

We work quickly and efficiently to ensure those setting up are not left waiting and wondering if they will actually get approved. We understand that for many operators, the vehicle is an essential part of the enterprise. For courier drivers needing a commercial van, tradies establishing themselves, agricultural producers and growers needing a vehicle to deliver produce to market, internet retailers need a vehicle and many other types of enterprises that require a vehicle to get to client meetings and other purposes.

Start-ups across Australia can use our services to secure vehicle funding easily. Request a quote by uploading your information.

Happy couple inside a car.

Credit Facilities for New Business Car Loans

When their low doc or no doc application is approved, start-ups can select the credit facility that is best-suited to their accounting method, approach to tax and balance sheet and will work towards achieving the objectives for their enterprise.

Interest rates are secured at a fixed rate and will not change over the credit term. Enabling operators to plan financials over several years. Terms are subject to lender approval but up to 7 years is achievable for some applicants. Balloons and residuals are option which enable the repayments to be structured to meet cash flow.

  • New Business Chattel Mortgage Car Finance
  • Vehicle Leasing New Business
  • Commercial Hire Purchase New Business Car Loans
  • Low Doc and No Doc Car Loans New Business
  • Affordable Fixed Interest Rates
  • Fixed Terms up to 7 years
  • Balloon, residual options
  • Fixed repayments to work with cash flow projections

Request a Quote – Submit a New Business Car Loan Application Easily

To apply for vehicle funding, upload your information and leave it to us to source your quote. We encourage customers to prepare as comprehensive details on their new enterprise as possible to ensure the cheapest rates and most affordable offer. Request a quote now.

What are Low Doc and No Doc New Business Car Loans?

When applying for vehicle credit, applicants are required to provide documentation or docs relating to their financials, trading history, turnover and security in assets. When an operation is in the process of setting up or has only been operational for say a few months, they would not have acquired the quantity and type of docs to meet the application requirements.

Low Doc and No Doc funding options are the solution. These terms describe the applicant and are not a specific credit facility. Specialist non-bank lenders approve applications without all the financials. An ABN is required but tax returns, annual accounts, BAS returns and other docs are not required. Some lenders will approve applications based on a few months of turnover figures while others may approve based on the owner’s financials or other criteria.

The enterprise owner’s financials may be assessed as part of the application approval process and additional security may be required.

With our large lender base, we are ideally set-up to ensure customers requiring this type of finance can access suitable lenders and the opportunity for affordable vehicle funding at competitive interest rates.

  • Low Doc and No Doc Car Finance.
  • Get approved without financials.
  • The right credit facilities for new business car loans.

Frequently Asked Questions
New Business Car Financing

What credit products are available for new businesses to get car finance? FAQ Arrow

Motor vehicles can be financed by operators just starting up with a choice of Leasing, Commercial Hire Purchas and Chattel Mortgage?

What is a low doc new business car loan? FAQ Arrow

Low doc vehicle financing is an option for operators that do not have all the documentation or financials to meet commercial credit application form criteria. It is available through specialist lenders and brokers.

We haven’t started operating yet but need a delivery vehicle. What are our new business car loan options? FAQ Arrow

Prior to starting operations, new enterprises can apply for no doc vehicle funding. This is available through some lenders and via brokers.

Will I still get tax deductions with a Low Doc New Business Car Loan? FAQ Arrow

Yes. When approvals are received for financing, operators are entitled to realise the tax benefits applicable to the choice of credit facility.

Will we need to put up extra collateral to get new business vehicle finance? FAQ Arrow

Start-ups may be required to provide additional security for the vehicle funding. This is subject to individual lender decisions.

I’m a new business and don’t have the financials the bank wants. Can I get a car loan? FAQ Arrow

Operators that have only been trading for a short time and do not have all the financials requested by a lender can seek lenders and brokers that offer no doc and low doc options.

What is a balloon? FAQ Arrow

A balloon is a set percentage of a Chattel Mortgage or CHP loan that is paid in full at the end of the credit term.

To get a new business car loan, will I need to provide a personal guarantee? FAQ Arrow

The financial position of the owner of a new enterprise may be assessed as part of the application process. Where additional security is required, subject to lender approval, this may be provided by way of a personal guarantee.

We’re a new business and would like to know we’re confirmed for a car loan before committing to a vehicle. Is that possible? FAQ Arrow

Yes. Motor vehicle financing can be applied for prior to the purchase of the vehicle.

How can I get a rough idea of what car loan repayments will be so I can choose a car at the appropriate price? FAQ Arrow

Buyers can use an online motor vehicle credit calculator to get rough estimates of repayments.