Easy Way Forward for Self-Employed Car Loans
Operators working for themselves can take a number of forms and can operate in a large number of industries. They may be classified as sole trader, a freelancer, contractor, an ABN holder or an SME. They may be a new business operating on a small scale or may have quite a significant trading history with good profitability and high turnover figures. But typically, in the commercial lending sector, this description refers to individuals who are working for themselves, with no employees and on a smaller scale. The type of business set-ups that can face a difficult path to securing finance to purchase motor vehicles. We address that and provide an easy way forward for one-person business to secure workable vehicle finance.
Easily Compare Our Self-Employed
Car Loan Interest Rates
Sole traders can achieve competitive rates on vehicle financing when the apply to the lenders that suit their circumstances. We provide one person businesses with a vast selection of lenders to ensure they do find the one that is right for them. Rates can vary according to individual details. Refer to our latest rates as a guide and for comparing vehicles and finance products. For a quote based on your exact requirements, submit your details to us and we will find the lender and the lowest rate quote to suit.
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Self-employed Car Loan Requirements
All operators must have an ABN in order to apply for commercial vehicle credit. Where the ABN has only recently been obtained, that’s fine – we do have lenders that approve credit for new ABN holders. Being registered to claim GST is not a requirement for commercial credit. However, some financial institutions do consider GST registered businesses more favourably as it is evidence of turnover exceeding $75,000 or can be an indication of those expectations.
- GST not essential, ABN essential.
- Competitive interest rate self-employed car loans.
- Options for less or without financials.
The application form requires business operators to provide a range of documents which prove their financial position. The documents may include BAS returns, tax returns, bank statements, annual accounts from the accountant, trading and turnover figures. We encourage our customers to provide as much of this documentation as possible to support their application. If accounts prepared by an accountant are not available, simple spreadsheets prepared by the business owner and supported by bank statements can be submitted.
Where all the documentation is not available, operators may consider our Low Doc and No Doc financing options.
Due to small size of one-person operation, it may be expected that the owner’s financials will also be assessed as part of the approval process. This can include the credit history, assets and liabilities and tax returns.
Commercial vehicle finance products allow for the vehicle being purchased to be accepted as the credit security. With some small operations, additional collateral may be requested. This may be provided with assets and property owned by the business owner and other suitable collateral.
The amount requested in the financing will also be assessed by lenders. With some applications, a lender may place a maximum amount on how much they will approve. Where an operator had wanted no deposit financing, they may consider reducing the amount requested by paying a deposit or selecting a lower priced vehicle.

Self-Employed Car Loan Options
One-person businesses have the choice of the full selection of credit products, once their application is approved. These products are different in regard to:- suitability to cash or accruals accounting methods; balance sheet approach; tax treatment; and interest rate. Speaking with an accountant in regard to the choice is strongly encouraged.
- Self-Employed Chattel Mortgage Car Finance
- Self-employed Car Leasing
- Commercial Hire Purchase Self-employed Car Finance
Request a Quote – Submit Your Self-employed Car Finance Application
Requesting a quote or submitting an application is a simple procedure with us. Simply submit online and we will get back to you promptly with the quote for you to consider.
How We Provide Easy Access for Workable Self-Employed Car Finance
Whether you have recently made the decision to work for yourself as your primary or secondary source of income or if you made that move some time ago, we are well-resourced and set-up to assist you with motor vehicle finance. The key is finding lenders that have credit approval guidelines that are aligned with your individual set-up. These guidelines may be in regard to time in business, minimum turnover figures, strength of financials and security.
Our services as a motor vehicle finance broker include selecting which of our many lenders have guidelines and approval criteria that suit our sole trader customers. On receiving your details we carry out that process and provide quotes and offers at competitive rates, quickly and easily.
Whether you’re an owner driver courier, a small online retailer, a creative or media freelancer, contract tradie, small grower selling at the markets or direct, IT contractor or in any other field or industry, working with us to source motor vehicle funding is a simple process.
- Lenders specialising in self-employed car loans.
- Simple process to find lenders that suit self-employed operators.
- Self-employed car loans for one-person operators in all industries.
Frequently Asked Questions
Self-Employed Car Financing
Is Car Leasing available for self-employed operators?
Yes. Leasing is available for single person businesses along with Commercial Hire Purchase and Chattel Mortgage.
Can I get tax deductions with a self-employed car loan?
Yes. When the financing is approved, operators can receive the relevant tax benefits. The tax deductions vary with the credit products.
What is a balloon with car finance?
What is a balloon with car finance?
Are there any restrictions as to what cars can be purchased with self-employed car loans?
Are there any restrictions as to what cars can be purchased with self-employed car loans?
Can I get approved for a self-employed car loan without GST registration?
Being registered to claim GST is not an essential requirement for commercial financing.
What terms are available on self-employed car finance?
The term approved for motor vehicle finance will be subject to lender approval. Terms of up to 7 years is available.
What documents do I need for a self-employed car loan application?
Applicants for commercial financing are requested to provide documents such as income tax returns, recent BAS returns, bank statements, annual business accounts and similar evidence of the financial position.
Can I get a self-employed car loan for a used vehicle?
Yes. Both new and used vehicle funding is available for one person business operations.
How can I work out my self-employed car loan before applying?
Before applying for financing, vehicle buyers can use an online credit calculator to get estimates of funding.
Will I be able to borrow the full purchase price of the car with a self-employed loan?
No deposit funding is available, subject to lender approval.