If you have an ABN and are a company owner in the market for a Commercial Vehicle, you have access to special financing options. Get extended Tax Breaks, Lower Monthly Payments, and more with Business Car Loans.
Whether you need a new or current ABN auto loan or a Low-doc alternative, Business Financr Loans will help you discover the right lender. Invest in a Car, Van, Truck, Ute, Trailer, or anything else your company needs. See your best alternatives for financing a Commercial Vehicle quickly and easily without affecting your credit rating.
Facts About Business Car Loans
Some additional facts to know when applying for business finance loans include the following:
- Most lenders will accept an ABN (company number) as collateral when financing a car or other vehicle. The primary requirement for getting a Company Loan is showing the lender that you will put the money to good use.
- Full doc/low doc/half doc ABN financing options are available from various lenders.
- To qualify for a Full-doc Financing Loan, borrowers may need to provide documents such as Tax Returns, Bank Records, Company Activity Statements, and Current Financial Statements. Low-doc loans typically have higher interest rates than Full-doc loans.
- With less documentation needed and some leeway in approvals, Low-doc financing has become more popular. Recent or prior year BAS, a summary of company accounts, and potentially a deposit or asset backing are all examples of general lender criteria for minimal doc financing.
- The requirements for Half-doc financing fall in the centre of the other available choices.
- The higher your credit score, the better your interest rate and the likelihood of acceptance.
We have a broad panel of lenders, and a conversation with the Business Finance Loans team will swiftly show your alternatives across all of them.
Apply To Compare Business Car Finance
Get an online quote in less than 60 seconds. Our system will ask about:
- The business car loan amount
- The vehicle you want to finance
- The preferred loan structure & repayment plan
- You will get a quote within minutes (typically valid for seven days).
- You will receive the prompts for the next steps
100% Online Application
Once you get a quote, you can apply online to receive a conditional decision if:
- You have access to internet banking
- You have a current ABN
- Your business has been trading for 12 months or more
- You’re a sole trader or a single director
- Your business has a good credit rating
- Your business hasn’t filed for bankruptcy
The lender might ask you to contact them if:
- You don’t have online banking
- You’re looking to apply for energy-efficient vehicle finance (some discounts might be applicable)
Next Steps To Follow:
Once you apply to compare business car finance options, the lender’s decision will be communicated to you electronically once you submit your application. If you’ve been provisionally accepted, the company will contact you to complete the approval process and necessary paperwork.
Options For Business Car Loans Repayment
After being authorised, you can electronically sign your financing agreement, and the lender will promptly pay your supplier. Depending on the lender, their terms and conditions, your credit history and other factors, some things that might apply include the following:
Flexible Loan Structure
Depending on the context, you have the following options for how to format your quote:
- Choose a repayment plan with manageable monthly instalments
- Pick up the loan term that best fits your needs
- Put a balloon payment towards the end to change the monthly payback amount
- Consider the whole cost of the loan
Optional Balloon Payments
- One kind of loan repayment is a large, one-time payment called a balloon payment, due when the loan matures.
- Paying off your loan early with a balloon payment can reduce your monthly payments but increase your interest costs.
Customised For Your Business
- Talk to the lender about adjusting your payments up or down depending on the season. They might accommodate your financial flow.
- Quarterly prepayment is another option.
Many variables are involved, and you can decide which lender’s terms and requirements are best suited for your business.
Business Finance Loans – Gain Access To Over 60 Lenders
There is no lack of websites that can help you locate a line of Credit Loan, but as a company owner, you value speed and safety above all else. We provide quick and straightforward access to over 60 lenders, making us the go-to website for finding loans online. You can choose from these several options to get the one that best suits your requirements. We’ll help you find the most suitable lender for your commercial car loans needs.
