🚚 Introduction
Expanding your truck fleet is a major step in growing your business, whether you’re in logistics, freight, or transport services. Financing multiple trucks at once can be a challenge, especially if you don’t have the full financial documentation most lenders require. That’s where low doc loans come in — offering a faster and easier way to finance your truck fleet without the extensive paperwork.
In this article, we explain how to finance a truck fleet using low doc loans, what you need to apply, and how to boost your chances of approval.
💡 Why Use Low Doc Loans for Truck Fleet Finance?
- ✅ Finance multiple trucks without providing full financials
- ✅ Flexible repayment terms tailored to your cash flow
- ✅ Quick approval, allowing you to scale your fleet quickly
- ✅ Preserve your business capital for other investments
👉 For more details on low doc truck fleet finance, visit: Truck and Prime Mover Finance.
⚙️ What Types of Trucks Can You Finance?
- Light-duty trucks
- Freight trucks and prime movers
- Refrigerated trucks
- Delivery trucks and vans
- Specialized vehicles (e.g., dump trucks, flatbeds)
📋 What You Need to Apply for a Low Doc Loan
- Active ABN – Lenders typically require an ABN that’s been active for at least 6–12 months.
- Business bank statements – You’ll need 3–6 months of bank statements showing your business’s income and cash flow.
- BAS or accountant’s letter – Optional but can strengthen your application, especially for businesses with limited financial history.
- Purchase quote or agreement – Documentation from your truck supplier detailing the vehicles you wish to finance.
- Proof of business use – The trucks should be used primarily for business purposes (usually 50% or more).
💬 Tips to Improve Your Chances of Approval
- Offer a deposit – A 10-30% deposit can reduce the lender’s risk and increase your chances of approval.
- Provide clean and consistent bank statements – Lenders prefer to see regular income and stable cash flow in your business bank statements.
- Work with a broker – A finance broker with expertise in truck fleet financing can help you find the best lenders and negotiate terms.
- Choose reputable suppliers – Purchasing trucks from trusted dealerships or suppliers can improve your application’s credibility.
- Ensure proper documentation – Ensure your ABN, bank statements, and any other required documents are accurate and up-to-date.
💥 Benefits of Financing a Truck Fleet with Low Doc Loans
- Quick access to multiple vehicles – Get your fleet up and running faster with low doc loans that streamline the approval process.
- Flexible repayment schedules – Low doc loans can be tailored to your business’s cash flow, with seasonal or variable repayment options.
- Preserve your working capital – Financing allows you to maintain cash flow for other business expenses while expanding your fleet.
- Easier to scale – Financing a truck fleet makes it easier to scale operations, expand service coverage, and handle more clients.
🚀 Final Thoughts
Financing a truck fleet through a low doc loan is an effective way to expand your business without the complexity of traditional financing. By preparing the necessary documents, working with a broker, and offering a deposit, you can improve your chances of securing the financing you need to grow your fleet and increase your capacity.
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.
