How to Use Low Doc Loans for Freight and Transport Vehicles

🚚 Introduction

If your business relies on transporting goods or providing freight services, having the right vehicles is crucial. Whether you’re purchasing a new or used freight truck, or expanding your fleet, low doc loans can help you get the vehicles you need without the hassle of providing full financials.

In this article, we explain how to use low doc loans to finance freight and transport vehicles, what you need to apply, and tips to improve your chances of approval.

💡 Why Use Low Doc Loans for Freight and Transport Vehicles?

  • ✅ Fast approval without the need for full financial statements
  • ✅ Flexible repayment options tailored to your business cash flow
  • ✅ Finance new and used freight trucks and transport vehicles
  • ✅ Keep working capital for day-to-day operations while upgrading your fleet

👉 For more information on freight and transport vehicle finance, visit: Truck and Prime Mover Finance.

⚙️ What Types of Freight and Transport Vehicles Can You Finance?

  • Freight trucks and semi-trailers
  • Refrigerated trucks
  • Delivery vans and trucks
  • Flatbed trucks and tippers
  • Specialized transport vehicles (e.g., moving trucks, cement mixers)

📋 What You Need to Apply

  • Active ABN – Lenders typically require an ABN that’s been active for 6–12 months.
  • Business bank statements – Provide 3–6 months of business bank statements to demonstrate stable income.
  • BAS or accountant’s letter – Optional, but helpful to support your application.
  • Supplier quote or purchase agreement – A document showing the price of the vehicle.
  • Proof of business use – Ensure the vehicle will be used for commercial purposes at least 50% of the time.

💬 Tips to Improve Approval Odds

  • Offer a deposit – A 10–20% deposit can improve approval chances and may reduce interest rates.
  • Choose reputable vehicle dealers – Work with well-established dealers or auction houses.
  • Provide a clear business plan – Show how the vehicle will help your business grow and increase profits.
  • Clean, consistent bank statements – Lenders will want to see steady income from your business.

💥 Benefits of Financing Freight and Transport Vehicles

  • Expand your fleet quickly – Get the vehicles you need to take on more work and serve more clients.
  • Flexible repayment terms – Tailor your loan to match your business’s cash flow, especially if freight income fluctuates.
  • Preserve your working capital – Financing allows you to keep cash flow intact while investing in equipment.
  • Upgrade your fleet – Stay competitive by acquiring modern, more efficient vehicles without draining your business capital.

🚀 Final Thoughts

Low doc loans offer a fast, flexible way to finance freight and transport vehicles for your business. Whether you’re looking to buy a new vehicle or expand your fleet, low doc finance allows you to access the necessary capital without the need for extensive paperwork. By following best practices and working with the right lender, you can streamline the process and get your fleet on the road quickly.

 

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.

Back to blog

Get Matched With a Low Doc Finance Specialist

- No tax returns required

- For ABN holders, sole traders and contractors

- Just straight answers - no pushy sales calls

Start My Application

Other Blogs

  • Do Low Doc Car Loans Require a Deposit?

    Introduction Low doc car loans help small business owners and sole traders access vehicle finance without full tax returns — but one common question is: Do I need a deposit...

    Do Low Doc Car Loans Require a Deposit?

    Introduction Low doc car loans help small business owners and sole traders access vehicle finance without full tax returns — but one common question is: Do I need a deposit...

  • Low Doc Car Loans for Sole Traders

    Introduction As a sole trader, getting vehicle finance can feel tricky — especially if you don’t have up-to-date tax returns or complete financial statements. But that’s where low doc car...

    Low Doc Car Loans for Sole Traders

    Introduction As a sole trader, getting vehicle finance can feel tricky — especially if you don’t have up-to-date tax returns or complete financial statements. But that’s where low doc car...

  • Can Casual Government Workers Get Car Finance? ...

    If you work in a government role but don’t have a permanent contract — maybe you're casual, part-time, or on a rolling contract — you might be wondering: “Can I...

    Can Casual Government Workers Get Car Finance? ...

    If you work in a government role but don’t have a permanent contract — maybe you're casual, part-time, or on a rolling contract — you might be wondering: “Can I...

1 3

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.