🚛 Introduction
Expanding your truck fleet is a great way to scale your business, meet increasing demand, and improve service capabilities. Whether you're growing a logistics, transport, or delivery company, financing a truck fleet with low doc loans can simplify the process, saving you from the complexity of full financial documentation.
In this article, we explain how to finance the expansion of your truck fleet using low doc loans, what you’ll need to apply, and how to improve your chances of approval.
💡 Why Finance a Truck Fleet with Low Doc Loans?
- ✅ Minimal paperwork and quick approval
- ✅ Flexible terms to suit your business’s cash flow
- ✅ Finance multiple trucks at once with a single loan
- ✅ Preserve capital for other business operations and expansion
- ✅ Access both new and used trucks
👉 Explore your truck fleet finance options here: Truck and Prime Mover Finance.
⚙️ Types of Trucks You Can Finance for Fleet Expansion
- Light-duty trucks
- Freight trucks
- Refrigerated trucks
- Prime movers
- Delivery vans and trucks
- Specialized vehicles (e.g., dump trucks, flatbeds, etc.)
📋 What You Need to Apply for a Low Doc Loan
- Active ABN – Lenders typically require an ABN that’s been active for 6–12 months.
- Business bank statements – Provide 3–6 months of bank statements showing steady cash flow.
- BAS or accountant’s letter – If available, this document can help strengthen your application.
- Vehicle purchase quote or invoice – Documentation for the trucks you intend to buy, including prices.
- Proof of business use – Trucks should be used for business purposes at least 50% of the time.
💬 Tips to Improve Approval Odds for Fleet Expansion
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Offer a deposit
Providing a deposit (10-20%) shows your commitment and reduces the loan amount, making approval easier. -
Work with a broker
A broker can help you navigate the process of financing multiple trucks and find the best lenders for your fleet expansion needs. -
Prepare a detailed plan
When applying for financing, provide a clear business plan detailing how the expanded fleet will help grow your business and increase revenue. -
Have consistent bank statements
Ensure your business bank statements reflect steady income to show that you can manage multiple loan repayments. -
Consider the size of your loan
Larger fleet purchases may require extra documentation or a larger deposit. Make sure you’re ready to provide any additional paperwork if necessary.
💥 Benefits of Financing Truck Fleet Expansion with Low Doc Loans
- Quick approval – Low doc loans streamline the approval process, so you can expand your fleet without delays.
- Flexible repayment terms – Tailored repayment schedules that suit your business’s cash flow, whether it’s seasonal or consistent.
- Access to more vehicles – Financing allows you to grow your fleet quickly and meet customer demand.
- Preserve your working capital – Low doc loans allow you to invest in other areas of your business, rather than spending all your capital on trucks.
🚀 Final Thoughts
Expanding your truck fleet with low doc loans offers an efficient and flexible way to grow your business. By preparing the right documents, offering a deposit, and working with a broker, you can secure financing to expand your fleet and improve your service capabilities.
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.
