A low doc car loan is a car finance option available to business car loan applicants and for self employed customers. Essentially, you do not need to provide payslips or financial statements to obtain a low doc car loan.
Benefits of a Low Doc Car Loan
- Quick approval
- Do not have to provide financial statements or pay slips
- No need to disclose financial data
- Able to protect your financial position
Who can apply for a low doc car loan?
Low doc car loans are available for business client subject to meeting the following conditions:
- Passenger cars or commercial vehicles up to 3 tonnes
- Maximum loan amount of $70000
- New and used vehicles up to 4 years old
- Must be from a licensed dealership
- ABN for a minimum of 2 years
- Must have equity in real estate property or have a deposit of 30% towards purchase
- Clear CRAA report and sound repayment history