Question 1

As a sole trader, can I get a business car loan in Australia?

Accepted Answer

Yes. We are connected with many specialist lenders that provide car finance to self-employed individuals. Our full range of commercial car loans are available, sourced through the right lender for your financial situation.

Question 2

What documents are needed for sole trader car finance?

Accepted Answer

Generally, full financial and business documentation is required to achieve a commercial car loan. However, our specialist lenders offer low doc and no doc loan solutions for sole traders lacking extensive documentation. Alternative documentation is able to be assessed by these lenders such as ABN history, turnover, bank statements and personal financials.

Question 3

How long does it take to get approved for a car loan as a sole trader?

Accepted Answer

At Easy, we provide car loan approval generally within 24 hours. Our quick application and approval process allows sole traders to secure the vehicles they need promptly. Benefit from our comprehensive broker guidance, lender negotiations, and fast-paced settlement.

Question 4

What car finance options can sole traders choose from?

Accepted Answer

Our complete range of commercial credit facilities is available to all types of business set ups and structures. As a sole trader, select from Chattel Mortgage, Rent-to-Own, Commercial Hire Purchase, and Leasing.

Question 5

As a sole trader, are my car loan repayments tax deductible?

Accepted Answer

Yes. Depending on the type of finance selected by the business owner, the repayments will generally be tax deductible. Lease and Rent-to-Own repayments most typically offer tax deductions on the repayments, while deductions apply to the interest and vehicle depreciation for Chattel Mortgage and Commercial Hire Purchase facilities.

Question 6

Can I get a car loan if I am a sole trader with no financial history?

Accepted Answer

Yes. Our specialist lenders allow sole traders without extensive financial history to obtain competitive car finance through no doc and low doc credit facilities.

Question 7

What interest rate can I get for a sole trader car loan?

Accepted Answer

Interest rates vary between lenders all across the market. Rates are determined based on the lender, the selected loan type, your financial profile and more. At Easy, we compare our entire lender base to find the most competitive solution for your selected loan features and business situation.

Question 8

Can sole traders finance both new and used vehicles?

Accepted Answer

Yes. Choose a new or used vehicle based on your preferences and financial situation.

Question 9

Do I need to be GST registered for a business car loan?

Accepted Answer

No. Business owners are not required to be registered for GST to obtain a car loan. A large number of our lenders approve finance applications for businesses with an ABN but no GST registration.

Question 10

Why should I use a broker for my sole trader car loan?

Accepted Answer

By choosing to finance with a broker like Easy Car Finance, borrowers save time and money. Benefit from our strong negotiation skills, expert rate comparisons, and personalised loan structuring. Our 25+ years of experience in the car loan market allows us to maximise tax benefits for our clients and deliver the best possible final credit solution.

Sole Trader Car Loans

Flexible Car Finance for Self-Employed Individuals

Low Doc and No Doc Sole Trader Car Loans

Ready for Easy?

Australia’s Easiest Car Finance