Low doc loans are ideal for ABN holders - Approval with low documentation.

Rapid Finance on 1 December 2016

ABN Holder's Guide to Low Doc Car Loans

Being self-employed often means having a different set of documents than company employees. You might not have regular payslips or certain tax documentation, but that doesn't mean getting a car loan should be difficult. At Rapid Finance, we understand this and offer solutions tailored for ABN holders.

Enter the world of low doc car loans. These loans are specifically designed to cater to the unique requirements of ABN holders. They allow you to secure a car loan without the typical volume of documentation.

In rare instances, no doc car loans, which require zero documentation, might be available. However, low doc loans are the more prevalent choice.

Understanding ABN Car FinanceMaking Sense of ABN Car Finance Options

For self-employed individuals with an ABN, business car loans can be a game-changer. Not only can they offer potential tax benefits, but they might even come with a reduced interest rate. Here's a look at the different types of business car loans available:

  1. Commercial hire-purchase
  2. Chattel mortgage
  3. Finance lease

If you've not yet filed a business tax return, don't stress! Low doc car loans or self-employed car loans might be just the solution for you.

For tailored advice and answers, don't hesitate to reach out to us online or give us a call at 1300 467 274.

commercial vehicleCommercial Hire Purchase

A commercial hire-purchase is like a rental agreement. The lender buys the car you want, and then you pay them back over time. It's great if you're self-employed or run a small business. Once you've paid it all off, the car's yours.

Key Benefits:

  • Locked-in rates mean no surprises on your monthly payments.
  • We can tailor the loan to suit your needs.
  • Potential tax benefits - but it's always a good idea to chat with a tax expert about this.

With Rapid Finance, you're not just getting a loan. You're getting over 20 years of experience in helping Australians like you. Contact Us to see if a commercial hire-purchase is right for you.

looking over the numbersChattel Mortgage

Ever heard of a chattel mortgage? It's where the lender gives you money to buy a car, and you pay them back with interest. The car acts as security. Once you're done with repayments, there's no more strings attached.

Key Benefits:

  • Choose a term that works for you, usually between 2-7 years.
  • Option for a balloon payment, which can reduce your monthly costs.
  • If you're registered for GST, you might get some Input Tax Credits. Best to check with a tax expert on this.

Rapid Finance is here to make the process smooth and simple. With us, you get personalised support every step of the way. Find out more about our chattel mortgage options.

people meetingFinance Lease

A finance lease works a bit differently. The lender buys the car and you lease it from them. Once you've paid off the lease amount and interest, you get some options: own the car, sell it, or refinance it.

Key Benefits:

  • You get flexibility, especially with balloon payments at the end of the lease.
  • Perfect for businesses with varying cash flows - you can make advance payments if you wish.
  • Potential tax deductions on the lease payments, but always double-check with a tax pro.

At Rapid Finance, we're more than just finance. We're your partner in getting you the right deal. Reach out to learn more about finance lease options suitable for you.

Why Choose Rapid Finance?

With over 20 years of experience in the industry, Rapid Finance has established itself as a trusted finance broker in Australia. We understand that each person's financial situation is unique, which is why we offer a personal and tailored service to each of our clients.

Need to understand your credit status? We provide a free credit check, ensuring it leaves no mark on your credit file. And if there are any issues, we'll guide you on improving your credit profile over time. Don't just take our word for it; our positive reviews on Google speak for themselves. With a rating of 4.8 out of 5 from over 600 reviews, we pride ourselves on our commitment to excellent customer service.

If you're looking to find a car for your business, let us do the heavy lifting. Not only do we assist with finding finance solutions, but we also offer a vehicle finding service through our Wholesale Car Network option, ensuring you get the best deals nationwide.

Ready to get started? Explore our car loan options or give us a call at 1300 467 274.