LOW DOC CHECKLIST

  • NO GST REGISTRATION REQUIRED

  • NO TAX RETURNS NEEDED (LOW DOCS ACCEPTED)

  • FAST APPROVAL FOR CARS, UTES, TRUCKS & EQUIPMENT

  • FLEXIBLE TERMS TAILORED FOR SMALL BUSINESS CASHFLOW
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How to Use an Accountant’s Letter for Low Doc Equipment Loans

🚜 Introduction

When applying for a low doc equipment loan, you might be asked to provide an accountant’s letter — especially if your bank statements or BAS are limited or if you’re a newer business. While not always required, this simple document can give your application a big boost.

In this article, we explain what an accountant’s letter is, why lenders value it, and how to use it effectively to secure your equipment finance.

💡 What Is an Accountant’s Letter?

An accountant’s letter is a document written and signed by your registered accountant that:

  • ✅ Confirms your business income or turnover
  • ✅ Confirms your ABN and GST registration
  • ✅ Supports your ability to service the loan
  • ✅ Gives the lender confidence in your financial position

👉 To explore low doc finance options, visit: Equipment Finance Australia.

⚙️ When Is It Helpful?

  • If you have a new ABN or short trading history
  • When your bank statements show seasonal income
  • If you lack recent BAS statements
  • To support a larger loan amount or older equipment purchase
  • When applying for no-deposit finance

📋 What Should the Accountant’s Letter Include?

  • Your business name, ABN, and GST status
  • Length of time you’ve been trading
  • Average annual income or turnover
  • Confirmation the equipment will be used for business purposes
  • Statement that you can meet loan repayments
  • Accountant’s signature, name, and contact details

💬 Tips for Getting a Strong Accountant’s Letter

  • Use a licensed or registered accountant (not a bookkeeper)
  • Give your accountant plenty of notice to prepare it
  • Make sure the details match your loan application
  • Ask your broker or lender if they have a preferred letter template

💥 Why Lenders Value It

An accountant’s letter gives lenders extra reassurance that:

  • You have real and verified business income
  • You understand your financial obligations
  • A professional is backing your application

🚀 Final Thoughts

An accountant’s letter can be a powerful tool for securing a low doc equipment loan — especially when other documents are limited. By working closely with your accountant and lender, you can strengthen your application and access the equipment your business needs to grow.

 

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.