Business Vehicle Finance Calculator
No Financials? Get Affordable Low Docs Car Loans from Easy Car Finance.
This calculator comparison chart is provided for general reference purposes only. It is not in any way intended as a loan application, it is not a quote for finance or any indication that an application has been received or approved. The repayments quoted may not include all the fees and charges that may be applicable. The interest rates and the repayments displayed do not account for any conditions pertaining to your individual loan application. Therefore the interest rate and repayment you may be offered may vary from the amount shown.
What are Low Docs Car Loans?
Low doc or low documentation financing is credit for business operators that do not have all the financial records which most banks and commercial lenders request as part of their application process. This type of credit may also suit businesses that do not meet other standard approval criteria such as a minimum trading periods, asset base, and minimum turnover requirements.
To be eligible, businesses must have an ABN and ID, and it is highly recommended that they prepare what financial records they can on their operation. These may include current accounts, bank statements, cash flow, turnover, business plans, and similar. The credit profile and financial position of the owner of the business is typically assessed as part of the application process. To discuss if you meet eligibility requirements, connect with one of our brokers.
At Easy, we provide business owners with the opportunity to secure workable motor vehicle finance without financials, through our extensive lender connections. Not all lenders approve loans with no financials. We have specialist non-bank lenders that do approve these applications and with affordable interest rates. We handle individual requirements with personal attention and service. Identifying which of our 80+ lenders is the best match, negotiating the most competitive interest rates and workable terms, and structuring solutions to optimise tax benefits. Submit your details for a quick quote.
- Secure affordable car finance with no financials.
- Best Rates Low Docs Car Loans from 80+ lenders.
- Without financials finance for new, start-up businesses.
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Setting up a new business and need finance for vehicles? Been trading for 6 months but can’t get bank approval for a car loan? Need vehicle finance but don’t have complete financial documentation? Our affordable Low Doc Motor Vehicle Finance for business operators could be your solution. Get approved for finance without financials through our connections with specialist non-bank lenders.
Our experts handle the process for you, sourcing the best rates, negotiating on terms and conditions to deliver workable financing on all types of vehicles. A full selection of credit facilities is available with our highly competitive rates. Use our latest rates for fully documented applications as a guide to calculate estimates and see how competitive we are in motor vehicle financing.
Request a quote online or speak with one of our brokers for your specific rate and start generating estimates.
Full Selection of Low Docs Car Loans Credit Facilities
The terms ‘no documents’ and ‘low documents’ are references to the business that is applying for the financing. These are not specific finance products. On approval of their ‘without financials’ application, business operators can select the asset acquisition credit facility that best suits their structure and objectives. As a specialist in commercial lending, Easy offers the full range of credit facilities including the highly popular Chattel Mortgage finance and Commercial Hire Purchase. Both offer the most affordable interest rates on asset acquisition finance. Compare rates with Lease using our calculator.
Leasing a motor vehicle can be an extremely attractive credit facility for new businesses as the asset is not posted to the balance sheet. A feature which can improve the appearance of the balance sheet and may support new operators better achieve their objectives. Leasing has attractive interest rates and can be used to finance all types of vehicles purchased by a business for use in that business.
We secure all commercial car loans, including for ‘without financials’ applications, with the best fixed interest rates, over fixed terms, and with fixed repayment schedules. Providing operators with certainty over the term that their rates and repayment will remain unchanged. Your Easy expert will handle sourcing you the best rates to suit your profile.
All features of the chosen credit facility are available to low doc applicants, including an optional balloon with Chattel Mortgage and Hire Purchase and a residual with Leasing. These end-of-term payments are a percentage of the total loan set aside for finalising at the end of the term. Balloons can be negotiated with lenders while the ATO has guidelines for business vehicle residuals. Use the balloon field in the calculator to see how these features can be used to effectively change repayments to workable amounts.
Businesses approved for vehicle financing with no financials, can realise the relevant tax benefits for their choice of credit. With Chattel Mortgage and Hire Purchase, the deduction is made when the vehicle is depreciated in line with ATO guidelines. Interest on repayments is also deductible. Leasing features repayments which can be fully deducted. Tax benefits are not allowed for when using a financing calculator. They are included in the business accounts when the annual tax return is prepared.
Tailored Car Loans
Smooth, simple and stress-free financing is a dream. Make it reality by talking to our expert brokers for your new or used car loan. Gone are the days of spending hours analysing the vast lending market to find a quote that kind-of matches your financial wants and needs. Get a perfectly tailored car loan with the best possible interest rate, terms and conditions by coming to Easy.
Expert Brokers
Car loan brokers are not banks or lenders. Instead, brokers have what is called ‘accreditation’ with banks and lenders, meaning we are approved to source financing through a range of financiers for our customers. Our panel of financiers is extremely widespread and enviable within the finance sector with 80+ banks and lenders on our database.
Unbeatable Rates
With so many credit product options available to us, we are able to present the best possible deals to our clients. Not only that, but we can also find the best possible rates currently available on the market and select the lender that is best suited to each customer.
Find the Right Lender
Access to the right lender is a critical factor when it comes to financing a new or used car. Borrowers who focus solely on the interest rate are often caught off guard when they realise how the features of their loan product influence the total cost of the loan. The suitability of certain lenders for borrowers is also often disregarded, as well as the damage to an individual’s credit score that can occur if they individually request multiple car financing quotes.
Expert Loan Matching
As specialists in car finance, we know the lending market and how lenders go about approving applications. Let us analyse the products currently available on the market and determine which lender is going to provide the best rate. We can source multiple quotes for car finance without impacting your credit score. Give us a call now and we’ll match you with your ideal lender and ensure you get the right loan product at the best rate.
Calculate Estimates on Low Docs Car Loans – Online Convenience!
- Quickly calculate estimates for car financing ‘without financials’.
- Online calculating device for use when you choose.
- Plan preferred financing structure – terms, balloons, deposits.
- Select vehicles with pricing to deliver repayments to suit cash flow.
- Suits all business vehicles – utes, cab chassis, SUVs, passenger cars.
Estimate Low Docs Car Finance Repayments, Plan & Prepare with Our Online Financing Calculator
New business operators considering applying for car finance can use our handy calculator to obtain rough estimates to assist with their planning. This device is simple to use and delivers complex computations instantly.
‘Without financials’ applicants will need to obtain an interest rate quote to calculate repayments based on their specifics. But our current rates for fully documented, good credit businesses may be used for general estimation and planning purposes. A great device for comparing interest rates, comparing Lease with Chattel Mortgage, planning preferred terms and balloons, and assisting with selecting a vehicle.
Vehicle pricing can easily be converted to monthly repayment estimates by using the price as the loan total. Start estimating and contact us for a quote based on your specific credentials and requirements.
- Easy use car financing calculator.
- Convert vehicle pricing to repayment estimates.
- Compare rates, credit facilities, vehicles.
Apply for Low Docs Car Loans - Personal Service, Streamlined Process, Fast Approvals
Applying for ‘no financials’ motor vehicle financing with Easy Car Finance is – easy! Details can be uploaded via our online forms or provided to one of our expert brokers over the phone. Your broker will handle all aspects of your application, advising you of the requirements, recommending additional information and documents to support your application, and handling all dealings with lenders.
We know which lenders will make the best offers on applications without financials, allowing us to provide a streamlined service for fast application processing and fast approvals. Upload your details today or phone them through.
The most frequently asked of the questions
What is the eligibility for a low doc car loan?
To be eligible for approval for business vehicle finance without complete financials, operators must have an ABN and ID. This type of financing is for businesses not individuals. Lenders that offer this type of financing will have criteria for minimum requirements. These may include having 6 months of trading figures, a minimum turnover or minimum asset base. The personal credit profile and financial situation of the business owner is typically assessed.
What is a low doc car loan?
A low documentation vehicle loan is finance approved to businesses that do not have the complete set of financial documents which are required in the standard commercial credit application form. These documents include annual accounts, tax returns, minimum 12-24 months of turnover figures, and other financials. Specialist lenders offer no financials loans based on minimum turnover and often based on the owner’s credentials.
Can I lease a van if I don’t have full financials for the credit application?
If approved for financing without complete financials, operators have their choice of loan products from Lease, Chattel Mortgage, Hire Purchase and Rent-to-Own.
What tax benefits will I get with no financials vehicle financing?
If approved for no financials finance, businesses can realise the tax benefits relevant to their chosen credit facility. All commercial credit products offer tax deductions but they are realised in different ways – either through depreciation or deductible repayments.
To get low doc loan estimates on an online calculator, what interest rate do I enter?
No financials applicants will need to request a quote to obtain a specific interest rate to use with an online calculator. To generate rough estimates for planning purposes, they may use the rate displayed by the provider of the calculator.
The bank rejected my van loan application as I’m just opening a new business. How can I get finance?
If a bank rejects an application based on insufficient financial documentation, business owners can seek low and no doc finance through brokers and specialist non-bank lenders.
What is a balloon payment?
A balloon payment is an optional feature with Hire Purchase and Chattel Mortgage. It is a percentage of the loan amount which is due to be finalised in full at the end of the finance term.
What collateral will I need to put up to get approved for a low docs car loan?
Collateral requirements for all commercial credit, including no financials, are subject to individual lender criteria. Asset acquisition financing does allow for the goods being financed to be used as the main source of collateral. Additional collateral requirements are subject to the lender’s assessment of the application.
What types of vehicles can be financed with low doc loans?
All types of vehicles to be used in a business may be financed with no financials loans. This includes utes, vans, cars, SUVs, new and second-hand.
Will the interest rate on my low doc car loan change over the term?
Interest rates on asset acquisition financing are typically at a fixed rate. A fixed rate does not change over the lending term.