Low Doc Car Loans Calculator

This service is simple and easy, all you do is Search, Compare and Select the best Low doc Car Loan quote from the best banks and finance providers in Australia. And best of all, we give you access to real instant finance quotes that are based on finance type, vehicle age, term and financed amount. In fact, its as real as it gets online!

Low Doc Car Loans Calculator

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Low Doc Car Loans

What is a Low Doc Car Loan?

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If you are a sole trader, partnership or company that cannot produce documentation such as financials, a Low Doc Car Loan may be the right product for you.

How does a Low Doc Car Loan work?

Low Doc consumer car loans (minimum 2 years ABN). In this case the vehicle purchased will be predominately for private use. The loan will be set up as a consumer car loan.

Low-Doc commercial car loan (minimum 2 years ABN). In this case the vehicle will be predominately for business use. The loan will either be set up as a Chattel Mortgage or Hire Purchase.

With a Low Doc car loan the finance provider will request 3 months worth of bank statements to verify income. Using this information they will project an annual income and use around 70% of that figure when calculating serviceability. This is how income is established with a Low Doc car loan facility.

Low Doc Benefits

  • You dont tie up your cash and can use this money to invest in the development of your company
  • Low documentation required to finalise application
  • Fixed interest rate for the term of the loan
  • Be able to set a facility when most financial institution will decline the application because of lack of income verification
  • Balloon (residual) can be set up to reduce monthly repayments
  • Tax benefits will apply because the transaction will either be set up as chattel mortgage or Hire purchase