Lack the necessary bank-approved proof for your truck loan application? Do you need to add another rig to your fleet without providing financial information or tax returns? We can help you get no-doc truck loans from several different lenders in Australia. If you’re self-employed and need financing for a truck, this might be the perfect solution for you.
Businesses need ready access to reliable and adaptable lenders to capitalise on opportunities as they arise. This is when Business Finance Loans lender-finder services prove helpful. Transport and logistics businesses and independent drivers must always be prepared for the unexpected, including a rise in business.
When this occurs, it’s common for the numbers on your latest financial accounts to misrepresent how things are going at the company, which is why low-doc truck loans might be helpful. Businesses may qualify for financing via Business Finance Loans based on their estimates of their revenue and assets rather than their reported income.
Low-Doc Loans For Used Trucks
Low-doc truck loans may be utilised to acquire new and pre-owned trucks, prime movers, and trailers, satisfying the needs of businesses for both types of assets. Chattel mortgages may be used to acquire previously owned trucks, general freight trailers, and furniture removalist vehicles without requiring you to provide your most recent financial statements. The key is having the option to get money when you need it, along with some degree of flexibility.
Apply For Low-Doc Truck Finance
Many Australian financial institutions offer low-doc business loans. Since such a wide variety of products are available, it may be challenging to decide between them, especially since each lender has their own set of requirements and preferences, and interest rates can range from 4% to 16%. Most low-doc truck loan providers have the same basic criteria for a customer:
- An ABN that’s been in use for at least two years and has been registered for GST
- Real estate serving as collateral
- Either the property itself or a 20% down payment is needed
- Credit rating- “A.”
Alternative Documentation For Low-Doc Truck Loans
Still, you may acquire truck financing even if your tax returns don’t accurately reflect the current state of your business or if you haven’t filed for the latest year. You’ll need to prove that you have an ABN, and some financiers may insist that you’ve had it for some time.
When you apply for low-doc truck finance, lenders will want to view your company’s bank accounts and activity statements for the last six months. A statement of your financial situation is required, and some lenders may additionally want proof of GST registration. These are lender-specific requirements, and you can get information regarding this when they connect with you after you submit your application online.
Apply For Low Doc Truck Finance
We want to help you out immediately, so we have an online loan calculator that can swiftly generate payback amounts based on current interest rates from various financing products. Although the rate you are given may be higher, this gives you an overview of how different loans stack up against each other.
Your time, energy, and resources are all conserved when you quickly compare Australian lenders through our website. You can rest confident that engaging the services of a lender-finder service like Business Finance Loans is not limited to enterprises and wealthy individuals.
We can connect you with over 60 reputable Australian lenders providing various financial products, including low-doc truck loans. That way, you can concentrate on the financiers with the requisite flexibility to provide low-doc loans rather than the numerous banks and financial institutions that do not.
Our user-friendly website works like a dream, and you can complete your application online within minutes. You will get responses from vetted lenders that provide low-doc truck loan options, and you can negotiate with them and give the pre-requisite documentation to get the loan you need for your next rig/s.
Calculate Your Eligibility For No-Doc Truck Loans
When it comes to commercial loans, Business Finance Loans cover them all. A company owner’s time is valuable, therefore we prioritised its importance and built a website that loads quickly and is easy to navigate. If you’re looking for a No Docs Loan, you’re undoubtedly aware that applying for one on your own might be difficult.
Using our lender-finder service, you can compare no-doc truck loans from 60+ reliable Australian lenders. Check out the online loan calculator and see what your financing possibilities are. Feel free to consult with our skilled staff if you have more questions about the platform’s functionality or the range of available loans.
