🚗 Introduction
When applying for a low doc car, ute, or van loan, one of the most important documents you’ll provide is your business bank statements. While low doc loans require less paperwork than traditional loans, lenders still need to assess your ability to repay — and your bank statements help paint that picture.
In this article, we explain why bank statements matter, what lenders look for, and how you can prepare your statements to improve approval odds.
💡 Why Bank Statements Matter
Unlike traditional loans that rely on tax returns or full financials, low doc loans rely on “alternative evidence” like:
- Business bank statements
- BAS (if available)
- ABN registration
👉 For more details on how the process works, visit: Low Doc Loans for Cars, Utes & Vans.
Bank statements give lenders insight into:
- Your business’s cash flow
- Regular income from clients or contracts
- Whether you can comfortably cover loan repayments
⚙️ What Lenders Look For in Your Statements
- ✅ Consistent incoming payments
- ✅ Minimal overdrafts or dishonours
- ✅ Regular account activity (not dormant accounts)
- ✅ Reasonable expenses compared to income
- ✅ Clear records of business-related transactions
📋 How Many Months of Statements Are Needed?
Most lenders ask for 3–6 months of recent business bank statements.
Providing more (if you can) can help strengthen your application, especially if you’re light on other documents.
💬 Tips to Prepare Your Bank Statements
- Check your statements for any unusual or one-off large deposits.
- Avoid unnecessary spending in the months leading up to your application.
- Make sure your statements are in your business name (not personal).
- Submit clean PDF copies — avoid photos or screenshots.
- Explain any irregularities in advance with a broker or lender.
🚀 Final Thoughts
Your bank statements play a crucial role in getting your low doc vehicle loan approved. By showing consistent business income and tidy account management, you help lenders feel confident — even without full financials. With the right preparation, you’ll boost your approval odds and get on the road sooner.
DISCLAIMER
The information provided on this website is general in nature only and has been prepared without considering your financial needs, circumstances and objectives and should NOT be construed as financial, taxation or legal advice. For more information, get in touch with our experienced partner brokers today.
