Key highlights
- Some lenders assess a van loan on bank statements
- Statements show cash flow and consistency to the lender
- Regular deposits and no dishonours strengthen your case
- Keep business and personal spending separate
- Obligation-free quote via a soft check only
If your trading account tells the real story of your business, some lenders are happy to read it. Bank-statement assessment is a genuine option for eligible ABN holders financing a work van. Overdrive knows which of its 80+ lenders take this approach and how they weigh it.
How does bank-statement lending work?
Instead of tax returns or BAS, a lender reviews a period of business bank statements to understand cash flow and consistency. Regular deposits and steady balances help demonstrate capacity. This suits eligible applicants with active trading but incomplete paperwork, subject to lender criteria.
What do lenders look for in statements?
They typically want to see income coming in reliably, manageable outgoings, and no signs of financial stress like frequent dishonours. A few months of clean statements can go a long way. The van being financed also acts as security, supporting the application.
How to make your bank statements stronger?
Keeping business and personal spending separate, and avoiding overdrawn periods before you apply, presents a clearer picture. Small habits matter here. For advice on structuring your accounts, check with your accountant or registered tax adviser.
Wondering if your statements are enough? Ask Simon for an obligation-free Overdrive quote. It's a soft check that won't affect your credit score, and he'll point you to the lenders that assess this way.
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