Easily Source Options, Products and Rates for No Docs Car Loan

No Doc Car Loans are for business operators that don’t have all or any of the financial records and documents that are required by most lenders to complete a business finance application. Businesses without all this information can face challenges and obstacles in sourcing cost-effective finance.

We make it easy to obtain information on the options and easier to source quotes and offers through a range of specialist car finance lenders. No Docs is a description of the finance application, not a specific finance product. The businesses requiring this type of finance may be sole traders, ABN holders, partnerships, owner-operators or other business structures. Typically a business will not have all the documentation because they are in the process of setting up a new operation or have only been trading for a short period. The situation making them ineligible to meet the criteria set by some banks and lenders.

Easy Tip: Not all banks and finance companies approve car finance to businesses without documentation.  Engaging with a specialist broker may assist business owners connect with the appropriate lender. Easy can connect you to lenders and brokers.

Car Loan Interest Rates

Who can apply for No Docs Car Finance?

  • No Docs applicants may have a wide range of profiles including:-
  • Tradespeople stepping up to set up their own business.
  • Creative and IT professionals moving from full-time to freelance or contract work.
  • Operator setting up a new retail business.
  • Medical professionals starting their own practice.
  • Construction operators converting to owner-operator/contractor status.
  • Individuals making the big move from hobby to income-generating concern.
  • And many more.

All industry sectors and all types of businesses may qualify for No Docs Car Finance.

Pre-approval is available so businesses can know they have been approved for what amounts, prior to selecting a vehicle.

If in doubt of whether or not you would be eligible, contact us for a quick discussion.

Loans Broker

No Docs Car Loan Application Requirements

  • Current ABN is essential.
  • Identification is essential.
  • GST registration is not essential but being registered may be taken as a positive by some lenders. That approach varies and we will assist in selecting the lender that best meets your application details.

No Docs infers that no financial documentation is available to support the application. Any documentation include business plans and other financials that are available, can strengthen the application and should be provided.

In some cases, an assessment of the personal credit profile and financial position of the business owner may be included in the application approval process.

Easy Car Finance

No Docs Car Finance – Loan Specifics

  • When approved as a No Docs applicant, the business may select the most appropriate finance product for the accounting method and business operation:- Chattel Mortgage, Vehicle Leasing or Commercial Hire Purchase.
  • The relevant tax benefits applicable to the choice of finance can be realised.
  • No Docs applicants may be assessed at a higher level of risk than a business with full documentation and lengthy trading history. A higher rate than advertised may apply.
  • Additional security – other than the vehicle being purchased, may be requested by the lender.
  • Where an ABN has only recently been obtained, lenders may not approve ‘no deposit car finance’. That is, the full purchase price may not be approved for the loan amount. The loan amount can be reduced by paying a deposit to the car dealer.
  • Terms of up to 7 years may be achievable.

Speak with us about your No Docs Car Finance Requirements, submit an application or request a quote today!