🚛 Introduction
When applying for a low doc truck loan, your business bank statements become one of the most important documents in the process. Without full tax returns or financials, lenders rely on your bank statements to understand your income, expenses, and ability to repay the loan.
In this article, we explain how to use your bank statements to boost truck loan approval and set yourself up for success.
💡 Why Bank Statements Matter
Lenders review bank statements to:
- ✅ Confirm regular business income
- ✅ Check for stable cash flow
- ✅ Identify recurring expenses
- ✅ See how well you manage your accounts
👉 For full guidance on truck loans, visit: Truck and Prime Mover Finance.
⚙️ What Lenders Look For in Your Statements
- Consistent income from driving contracts or freight jobs
- Minimal or no overdraft or dishonoured transactions
- A healthy account balance at the end of each month
- Evidence that your business covers expenses and still has surplus cash
📋 How to Strengthen Your Application
- Provide the right timeframe → Most lenders want 3–6 months of recent statements.
- Clean up your accounts → Avoid overdrafts and late fees before applying.
- Explain any irregular deposits → Have a note ready if you received one-off payments.
- Use a dedicated business account → Separate business and personal expenses.
- Get professional advice → Work with a broker who can help highlight the right figures.
💬 Bonus Tip
If your bank statements alone aren’t strong, consider adding:
- An accountant’s letter
- Recent BAS statements
- A deposit (10–20%) to reduce the loan amount
🚀 Final Thoughts
Strong, well-prepared bank statements can make the difference between a smooth low doc truck loan approval and a frustrating decline. By organising your accounts and providing clear documentation, you help lenders feel confident — and you get the keys to the truck you need to drive your business forward.
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.
