How to Get a Low Doc Car Loan With an ABN

Introduction

Running a small business with an ABN but missing full financial documents? Don’t worry — you may still qualify for a low doc car loan designed specifically for business owners like you. Whether you’re a sole trader, contractor, or small business owner, low doc loans can offer flexible options when traditional banks say no.

In this article, we’ll break down how low doc car loans work, what lenders look for, and how you can check your eligibility in just 20 seconds through our Small Business Car Loans hub.

What Is a Low Doc Car Loan?

A low doc car loan is designed for businesses or self-employed applicants who:

  • Don’t have up-to-date tax returns

  • Have fluctuating income

  • Can provide alternative documents (like bank statements or BAS)

Unlike a full doc loan, low doc lenders focus on your overall cash flow, ABN history, and business performance rather than formal financial statements.

Quick Comparison

  • Tax Returns:
    Full doc → Required
    Low doc → Not required

  • Income Proof:
    Full doc → Full financials
    Low doc → Bank statements, BAS, accountant letter

  • Approval Time:
    Full doc → Slower
    Low doc → Faster for eligible profiles

  • Best For:
    Full doc → Salaried borrowers, large businesses
    Low doc → Sole traders, contractors, small businesses

Learn more on our Small Business Car Loans page.

Who Is Eligible?

Low doc car loans are available to:

  • ABN holders with at least 6–12 months active

  • Sole traders and self-employed workers

  • Small businesses with irregular income

  • Businesses needing commercial vehicles

Even if you’re newly self-employed, some lenders will still assess you if you can show BAS or business bank statements.

Case Study: How Sarah, a Sole Trader, Got Approved

Sarah runs a mobile dog grooming business in Brisbane. She didn’t have full financials but provided:

  • 12 months of ABN history

  • 6 months of business bank statements

  • An accountant letter confirming income

Result: Sarah secured a $35,000 low doc car loan to upgrade her van — despite being declined by two major banks.

Tips to Improve Your Approval Odds

  • Keep your business bank account clean (no overdrafts, regular income)

  • Provide BAS or accountant letters where possible

  • Have a strong ABN history (12+ months preferred)

  • Save for a reasonable deposit (10–20%)

If you’re unsure, you can always check your eligibility in 20 seconds through our Small Business Car Loans form.

Common Pitfalls to Avoid

  • Applying without alternative documents: Likely to be declined

  • Applying with a brand-new ABN (under 6 months): Fewer lender options

  • Overstating income without evidence: Loan approval can be revoked

Final Call to Action

Getting approved for a low doc car loan with an ABN doesn’t have to be stressful. With the right preparation and lender, you can secure the finance you need to grow your business.

✅ Check Your Eligibility in 20 Seconds — no commitments, no credit impact.

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.

 

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All Your Questions Answered

What is a car loan and how does it work?

A car loan is a finance product where a lender provides funds for you to purchase a vehicle, which you repay over time with interest.

What’s the difference between secured and unsecured car loans?

Secured loans use the car as collateral, often leading to lower interest rates. Unsecured loans don’t, but usually have higher rates.

What loan terms are available for car finance?

Most car loans offer terms from 3 to 7 years. Find out what term suits you best.

How is interest calculated on a car loan?

Interest is based on the loan amount, term, and rate. Fixed-rate loans have predictable repayments, while variable rates can change.

Can I get a car loan for a private sale?

Yes, many lenders accept private sellers. You’ll need to provide extra documents.

Do government employees get lower interest rates on car loans?

Yes — many lenders offer better rates due to your stable income. Explore finance options for government employees.

Can I apply for a car loan while on probation?

Yes. Many workers are approved during probation.

What credit score do I need as a government employee?

A score of 650+ is ideal, but lower scores may still be considered.

Are corporate professionals eligible for low-rate finance?

Yes, especially if you're full-time with strong income.

Can I get car finance with a novated lease?

Yes, many government departments support novated leasing.

Can I get a car loan with no credit history?

Yes, it's still possible to get a car loan with no credit history.

What if I’ve been declined elsewhere?

A broker can help restructure your application for better results.

How do I check my credit score?

Use Equifax, Experian, or Illion for a free check.

Can I get finance if I have a current personal loan?

Yes, if your income supports both loans. A broker will assess your capacity.

What documents do I need to apply?

Typically: ID, payslips, and bank statements.

Can casual workers get car loans?

Yes, if you’ve worked consistently for 6+ months.

Can I apply if I’m self-employed with an ABN?

Yes. Consider a low-doc loan.

Can Centrelink be used as income?

Yes, when paired with PAYG income.

What’s the minimum income to qualify for car finance?

Most lenders prefer $30,000+ annually, but this varies.

Can I apply on a fixed-term contract?

Yes, especially if it’s government-backed.

Can I finance a used car?

Yes, most lenders allow used cars under 10 years old.

Can I get a loan for an SUV or family car?

Absolutely

Can I finance a caravan or motorbike?

Yes

Can I finance an EV or hybrid car?

Yes. You may even qualify for green car loan discounts.

Can I use my car for both work and personal use?

Yes you can.

What is a balloon payment?

It’s a lump sum due at the end of the loan term.

Can I make extra repayments?

Yes, many lenders allow this without penalty.

Can I pay off the loan early?

Yes — ask if there’s an early payout fee.

Is there a deposit required?

Not always.

What loan terms are available?

1 to 7 years is standard.

How long does approval take?

24–48 hours in most cases

Can I apply online?

Yes — most lenders and brokers accept online applications.

Is a broker better than going direct?

Often, yes. They can compare lenders for you.

Can I get pre-approved?

Yes — and it gives you better negotiating power at the dealership.

What happens after I apply?

Your documents are reviewed, and if approved, the lender issues funds to the seller.

Can I get a loan with a visa?

Yes, in some cases. see finance for visa holders here.

Do I need a driver’s licence to apply?

Yes, but learners may qualify with a co-applicant.

Can I apply with someone else?

Yes, joint applications are allowed.

Can I refinance my current car loan?

Yes — it can lower your repayments or get you a better rate.

Can I trade in my old car as a deposit?

Yes, many lenders accept trade-ins toward the deposit.

Can nurses get car finance?

Yes — see nurse-specific finance tips.

Can teachers apply while on contract?

Yes. Read how to get approved.

Do defence personnel get special car loan rates?

Yes, in some cases. Your job security is a major advantage.

Can FIFO government workers apply?

Yes — consistency in income matters more than job location.

Can I apply if I’m on maternity leave?

Yes, especially if you’re returning to work. Here’s how.

Can I use car finance to buy interstate?

Yes — just make sure the seller provides all required documents.

Can I finance a car from an auction?

Yes, but only through select lenders. Ask your broker first.

Will applying hurt my credit score?

Only if you apply to multiple lenders directly. Brokers help protect your score.

Can I get a car loan if I’ve been bankrupt before?

Yes — see bad credit car loan options.

What if I want to upgrade my car before the loan ends?

You can sell the car, pay off the loan early, or refinance.