🚚 Introduction
The moving industry is highly competitive, and having a reliable fleet of trucks is key to staying on top. Whether you’re starting a moving business or expanding your current fleet, financing a truck through low doc loans provides a fast and flexible way to get the vehicle you need. With minimal documentation required, low doc loans are an excellent option for moving businesses looking to grow.
In this article, we will guide you through the process of financing a truck for your moving business with low doc loans, explain what documents you need, and share tips on how to increase your chances of approval.
💡 Why Use Low Doc Loans for Moving Truck Finance?
- ✅ Minimal paperwork required, allowing for quick and easy approval
- ✅ Flexible repayment options tailored to the moving business’s cash flow
- ✅ Quick access to new or used trucks that are ideal for transporting furniture and goods
- ✅ Fast approval process, ensuring you get your truck when you need it
- ✅ Preserve working capital for other business expenses, such as marketing, staffing, or maintenance
👉 For more details, visit: Truck and Prime Mover Finance.
⚙️ What Types of Trucks Can You Finance for Your Moving Business?
- Box trucks for transporting household goods and furniture
- Moving vans for smaller jobs or local moves
- Flatbed trucks for transporting large or bulky items
- Cargo vans for smaller deliveries
- Refrigerated trucks for perishable items (if applicable to your services)
- Specialized moving trucks (e.g., trucks with hydraulic lifts, padded interiors)
📋 What You Need to Apply for a Low Doc Loan
- Active ABN – Lenders typically require your ABN to be active for at least 6–12 months.
- Business bank statements – Provide 3–6 months of business bank statements showing regular deposits and consistent cash flow.
- BAS or accountant’s letter – Optional, but useful for new businesses or to support your application.
- Truck purchase quote or invoice – A quote or invoice from your truck dealer showing the price of the truck.
- Proof of business use – The truck should be used for moving-related business purposes at least 50% of the time.
💬 Tips to Improve Your Chances of Approval for Moving Truck Loans
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Offer a deposit
A deposit of 10-20% can show your commitment and reduce the risk for the lender, improving your chances of getting approved. -
Maintain consistent and clean bank statements
Lenders will examine your bank statements to evaluate your business’s financial health. Ensure they reflect positive and consistent cash flow. -
Choose reputable dealers or suppliers
Purchasing the truck from an established supplier increases the credibility of your application and helps speed up the approval process. -
Provide a solid business plan
If you're a new moving business, providing a clear plan of how the truck will help grow your business and serve clients can help secure funding. -
Consider working with a finance broker
A finance broker can help you navigate the loan process and find the best loan terms tailored to your moving business’s specific needs.
💥 Benefits of Financing a Truck for Your Moving Business
- Quick approval – Low doc loans offer faster approval times, so you can get your truck and start servicing clients sooner.
- Flexible repayment options – Tailor the repayment terms to your business’s fluctuating income, whether it’s a busy season or a quieter period.
- Preserve working capital – Financing your truck helps you preserve funds for other business expenses such as marketing, payroll, or operating costs.
- Access to new and used trucks – Low doc loans allow you to finance both new and pre-owned trucks, depending on your business’s budget and needs.
🚀 Final Thoughts
Financing a truck for your moving business with a low doc loan is a practical, fast, and flexible way to get the vehicles you need without the complexities of traditional financing. With minimal paperwork, quick approval, and customizable repayment terms, low doc loans are a great solution for moving businesses looking to grow and expand their fleet.
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.
