Key highlights
- Some lenders consider ABN holders without GST
- Suits newer or smaller operations below the threshold
- Personal credit, deposit and vehicle weighed instead
- A decline from one lender may fit another's policy
- Simon Kendrick compares 80+ lenders for you
Plenty of small businesses operate below the GST registration threshold and still need a work vehicle. The absence of GST registration does not automatically prevent finance, though it may influence which lenders suit your application.
Can you get finance without GST registration?
Some lenders may consider ABN holders who are not GST registered, subject to lender criteria. This can suit newer or smaller operations that have not reached the registration threshold. Whether you are required to register for GST is a matter to confirm with your accountant or registered tax adviser.
What do lenders focus on instead?
Without GST registration, lenders may place more weight on your personal credit history, deposit, the vehicle type and how long your ABN has been active. Recent bank statements can help demonstrate income for eligible applicants where fuller documentation is not available.
How do you find the right lender?
Because lender appetite differs, an application that one lender declines may fit another's policy. Comparing across a wide panel helps identify lenders comfortable with non-GST-registered businesses.
Simon Kendrick at Overdrive Business Vehicle Finance compares 80+ lenders to find options that do not hinge on GST registration. Request an indicative, obligation-free quote today.
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