Key highlights
- Low-doc finance may not require lodged tax returns
- Bank statements or GST registration can replace returns
- Available to eligible applicants, subject to lender criteria
- Terms may differ from full-documentation applications
- Soft check to quote, no credit-score impact
Not every business has up-to-date tax returns ready when it needs a vehicle. The reassuring news is that some lenders offer low-documentation car finance that does not rely on lodged returns. Here is how these options generally work.
Can you get car finance without tax returns?
Several lenders on Overdrive's panel provide low-documentation products for eligible applicants who cannot supply tax returns. Instead of returns, they may rely on other evidence to gauge that your business can meet the repayments, subject to their criteria.
What can replace tax returns?
Depending on the lender, alternative evidence can include bank statements, GST registration, a clean personal credit file, a deposit or property ownership. The stronger these supporting factors, the more comfortable a lender tends to be without returns.
Is low-doc car finance right for you?
Low-doc finance may involve different terms compared with a full-documentation application. Whether it is the right choice depends on your circumstances, and any tax implications should be checked with your accountant or registered tax adviser.
Need a vehicle but do not have tax returns handy? Ask Overdrive for an obligation-free quote. It is a soft check that won't affect your credit score, and Simon will explain your low-doc options.
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