🚛 Introduction
Refrigerated trucks are a crucial asset for businesses involved in transporting perishable goods, from food and pharmaceuticals to other temperature-sensitive products. However, financing a refrigerated truck can be costly, especially for small businesses or sole traders. Low doc loans provide a simple and flexible solution to help you acquire the refrigerated vehicle you need without full financial documentation.
In this article, we’ll explain how to finance a refrigerated truck using low doc loans, what documents you need, and how to improve your chances of approval.
💡 Why Use Low Doc Loans for Refrigerated Truck Finance?
- ✅ Finance new or used refrigerated trucks without extensive documentation
- ✅ Flexible repayment options that suit seasonal income
- ✅ Quick approval process, ideal for businesses that need to get on the road fast
- ✅ Keep your working capital available for other business expenses
👉 To learn more about refrigerated truck finance, visit: Truck and Prime Mover Finance.
⚙️ What Types of Refrigerated Trucks Can You Finance?
- Single and dual-temperature refrigerated trucks
- Small to medium-sized refrigerated vans
- Large refrigerated trailers
- Custom-built refrigerated trucks for specific industries
📋 What You Need to Apply for a Low Doc Loan
- Active ABN – Most lenders require an ABN that’s been active for at least 6–12 months.
- Business bank statements – Provide 3–6 months of business bank statements to demonstrate stable income.
- BAS or accountant’s letter – If available, this will help strengthen your application, especially for new businesses.
- Supplier quote or purchase invoice – Documentation from the truck dealer showing the vehicle price.
- Proof of business use – The truck should be used for business purposes at least 50% of the time.
💬 Tips to Improve Your Approval Odds
- Offer a deposit – Providing a 10–20% deposit reduces the lender’s risk and helps increase your approval chances.
- Ensure clean bank statements – Lenders will review your business bank statements to assess cash flow. Keep your statements tidy and consistent.
- Choose a reputable supplier – Financing through trusted dealers or certified pre-owned options can increase your application’s credibility.
- Work with a broker – A broker can help you navigate the application process and find lenders who specialize in refrigerated truck finance.
- Explain seasonal income – If your business experiences seasonal income, provide an explanation or supporting documents to show your ability to repay.
💥 Benefits of Financing a Refrigerated Truck
- Access to specialized vehicles – Get the refrigerated truck you need without depleting your business’s savings.
- Flexible repayment terms – Adjust repayment schedules to match the seasonal nature of your business.
- Improved cash flow – Spread out the cost of the truck over manageable monthly payments.
- Tax benefits – Consult your accountant to see if you qualify for tax deductions on the purchase.
🚀 Final Thoughts
Financing a refrigerated truck with a low doc loan makes it easier for small businesses to acquire essential vehicles for transporting perishable goods. With flexible terms, minimal paperwork, and quick approval, low doc loans offer an efficient way to get the refrigerated truck your business needs while preserving cash flow.
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.
