Overdrive Funding arranges competitive business vehicle finance for Australian businesses. We compare 80+ banks and specialist lenders, negotiate the deal and manage everything from start to finish.
Low doc — sometimes called no financials — means the lender assesses your application on your ABN, GST registration, credit profile and the vehicle rather than tax returns and financial statements. For a great many business owners it is the only practical route.
Who low doc suits
Businesses whose returns are not lodged yet, whose financials understate current trading, or who simply do not want to hand over three years of paperwork to buy a $50,000 ute. It is not a last resort or a lesser product — it is the standard route for a large share of Australian business vehicle purchases.
What you actually need
Generally your ABN and GST registration (commonly 12+ months), driver licence, details of the vehicle, and in some cases recent bank statements. You avoid full tax returns and financial statements. Requirements vary between lenders, which is part of why comparing them matters.
What it costs and the $300k cap
Low doc business vehicle finance is available up to $300k for the right profiles. That is a lower cap than trucks and machinery, which run to $500k on low doc — worth knowing if you are financing a vehicle and a machine together.
Expect around 7% to 10% for an established business buying used on low doc, versus from about 6.1% for the strongest full doc applications. The lender has less information so prices for it. For most operators the speed and simplicity are worth the difference, but if your financials are strong and lodged it is worth pricing full doc as well.
Rates and deposits
Established ABN (2+ years), new vehicle, full doc
Established ABN, used vehicle, low doc (no financials)
Newer ABN (under 12 months)
Prior credit issues or specialist lending
| Borrower profile | Indicative rate | Typical deposit |
|---|---|---|
| Established ABN (2+ years), new vehicle, full doc | From 6.1% | $0 – 10% |
| Established ABN, used vehicle, low doc (no financials) | 7% – 10% | 10% – 20% |
| Newer ABN (under 12 months) | 9% – 12% | 10% – 30% |
| Prior credit issues or specialist lending | 12% – 15% | 20% – 30% |
Rates are indicative only and subject to lender assessment, the vehicle, term and your individual circumstances. Low doc (no financials) business vehicle finance is available up to $300k for the right profiles.
Get a quote
Looking for the best rate on business vehicle finance? You're in the right place. Speak directly with Simon and our team for a free, no-obligation quote, or get a free quote online. Our service is completely free. We're paid by the lender only after a deal settles, so there's no cost to you—even if you choose not to proceed.