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No Docs Car Loans for Business Vehicles

Looking for a No Docs Car Loan? Compare Finance Products With Jade

Sourcing a No Docs Car Loan can come with its challenges. We’ve removed at least some of the hard work by compiling this comparison of major loan product so you can quickly see how each compares based on their advertised interest rates. With the understanding that low docs loans attract different interest rate, enter the details of your loan for comparison purposes.

Loan Amount $ Loan Term
Lender Loan Product Interest Rates From: Monthly Repayment
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*The purpose of the interest rate comparison table is to provide a guide only and for comparing the interest rates on different commercial loan products. Quoted repayments are based on advertised rates and do not include lender fees and charges. An offer made to you by a lender may be at a different interest rate and have a different repayment. Using this device is not an application, any indication of an offer, and is not a loan approval.

In the financial sector, ‘no docs’ refers to not having the financial documentation usually required to apply for a car loan. It can mean having none or only some of the some of the ‘docs’. No docs can apply to both personal car loans and business vehicle finance. Here we’re focussing on no docs car finance for businesses, which includes sole traders and other self-employed operators with an ABN.

With many people opting for self-employment either as a full-time occupation or possibly as a side-hack or for extra income, it is quite not unusual for our Jade Car Loans consultant to be contacted by someone seeking no docs car finance.

You could be starting up a new business and want to purchase a vehicle as a first step but have only been trading for a short time or are yet to ‘open the doors’ of your new venture. A tradie who has recently qualified and completed time with an employer and feels it’s time to branch out with their own business.

Just because you do not have all the financial information, ie docs, required by say the bank, doesn’t mean you do not have a chance to secure motor vehicle finance. What it does mean is that using Jade Car Loans as your professional finance broker to handle your car loan becomes even importance and beneficial to the process compared to handling it on your own.

Our consultants are highly experienced and knowledgeable to know what lenders require what information in an application and which will offer the best car loan to suit your individual requirements.

What is and isn’t Required

While complete financial information is not required for a no docs car loan, there are some essentials and certain conditions will apply.

  • An ABN is required. You must have a registered ABN.
  • New ABN holders: If you have only received acquired your ABN, lenders may require you to pay a deposit on the vehicle. Usually no deposit is required with commercial vehicle finance products for established businesses.
  • GST registration: if your business is or is not registered for GST may affect the car loan options available to you. Different lenders take varying approaches to this aspect and your Jade consultant will work hard to sort the best outcome for you.
  • Loan security: if you do not own assets/property, separate from the vehicle you intend to purchase, the lender may require you to pay a deposit on the vehicle. Usually no deposit is required with commercial vehicle finance products.
  • Full financial records such as company accounts not required.
  • Proof of identification is required.

Depending on the lender and your business set-up, accounting method and financial objectives, no docs car finance is available for the full range of commercial finance products including:-

  • Chattel Mortgage
  • Car Leasing
  • Commercial Hire Purchase (CHP)

Refer to our web pages for all the details on these types of finance.

No docs loans will most likely be rated as a higher risk for some applicants than a fully documented loan application and as such may attract a higher interest rate.

The Jade Benefit

Using Jade as your finance broker for no docs car finance is an astute move. We have the network of banks and lenders to know which ones will offer you the best deal, we have the negotiating skills to achieve a better outcome for you and we will handle the paperwork to streamline the process.

So if you’ve been rejected by a lender on the basis of insufficient documentation when you applied yourself, or if you feel unsure if you would be approved and have been hesitant to contact the bank, just call Jade Car Loans and see how we can assist you.

Give us a call and discuss your no docs car finance options with one of our Jade Car Loans consultants. Call 1300 000 003

28 Nov Today's
best rates
Today's Business Rate
From {{Advertised Rate Only}} %*

*The Interest Rate is calculated on a Secured Loan for business use, effective 28/11/2023 and subject to change. WARNING: The interest rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different interest rate.

Today's Consumer Rate
From {{Advertised Rate Only}} %
Comparison Rate
From {{Comparison Rate Only}} %**

**The Comparison Rate is calculated on a Secured Loan of $30,000 fixed for a term of 5 years, new goods, effective 28/11/2023 and subject to change. WARNING: The Comparison Rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate.

Car FinanceRepayment Calculator

Using this free calculator is predicated on the person's understanding as well as acceptance that the outcome/estimate presented does not imply a loans quote; it does not suggest an application for any type of financing has actually been lodged; it is not an indicator that any type of funding application has been approved. The formatting of this device does not enable certain information pertaining to any type of specific personal finance application or any kind of lender fees and costs. It is formatted to supply a basic result based on basic details as well as values only.
After lodging a formal finance application, the quote and also repayment amounts that you may likely be supplied may vary from the estimate accounted by this online calculator.
The device is not ideal for computations on finances that are established on a rate of interest only basis. The format is purely set up to compound interest for a chosen period based on the amounts inputted by the individual.
The calculator is not meant as a device for finance decision-making. Users that call for financial advice must seek out an expert economic advisor in regard to their circumstances. To make an application for finance and acquire a quote based on your personal requirements, the user must contact Jade and also have their specific application considered by among our Jade experts.

Finance Calculator Disclaimer

No Docs Car Loans FAQs

No Docs Car Loans is a specialised area of motor vehicle finance and on which Jade is expert in handling. Each No Docs application has its own unique aspects which require individual assessment by our consultants. The information we provide is quite general in nature but we hope these additional no docs loan FAQs will add to your understanding of what is involved and provide you with the confidence to proceed to contact us for a quote.

What is a no doc car loan?   

The term docs is the reference used by the finance industry for documents, meaning financial documentation. Docs take the form of business accounts, records of income and outgoings, income tax returns, corporate financial statements, annual returns, BAS statements and other such documents that can verify the financial position of a business. This type of documentation is requested by especially banks in order to offer business vehicle finance. A business that does not have this level of documentation can apply for a no docs loan. This type of higher risk loan is offered by banks and non-bank lenders and is subject to individual lender requirements. Most businesses that have been operating for a period of time will have substantial documents so this type of loan is most often sought by businesses that are starting up.

What are the minimum requirements for a no doc car loan?   

No Docs does not technically mean without any material or support for the application entirely. Essential for this type of loan is a current ABN and proof of identity of the business owner who is usually the applicant. From that minimum requirement, the more docs a business can provide, the more attractive the application to lenders. In principle, the stronger the application is supported, the lower the risk assessment and better the loan conditions. A good credit profile is usually required. So it is in a business owner’s best interests to prepare as much financial material as possible to support their loan application. The docs should focus on the ability of the business to repay the debt over the term of the loan.

What is the interest rate on no doc car loans?   

No Docs Car Loans are considered a higher risk than fully documented loans. They can be achieved at an advertised  interest rate but with stricter criteria and additional loan conditions. In some cases a higher interest rate may apply. Interest rates in general vary according to the cost and ability of lenders to acquire funding and in response to other monetary conditions and the wider economic environment. When making any motor loan offer, a lender will assess the risk of the individual application and attach the interest rate they are prepared to offer to that individual business. Interest rates on low doc  loans will vary based on individual lenders. Not all lenders offer no docs loans.

Can I get a car lease with no docs?   

Yes. If we are successful in securing you a No Doc Loan offer which meets your approval that can be utilised with any of the commercial finance facilities. The full range of business vehicle finance products offered by most lenders including Car Leasing. You can request Car Leasing, No Doc Chattel Mortgage, No Doc Commercial Hire Purchase. These loan types differ in the way they treat GST and how and when a tax deduction benefit is realised. They are also suitable for different accounting methods and vary with when the asset is entered in the business balance sheet. This reflects the ownership of the car in title over the loan term.

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