Locum Vehicle Finance for Doctors: Mixed Income Assessment (2026)

Locum vehicle finance for mixed income doctors – Switchboard Finance

🩺 Locums & mixed income doctors · Whitecoat Hub · 2026

Locum Vehicle Finance for Doctors: Mixed Income Assessment (2026)

Locum income isn’t “bad income” — it’s just harder to summarise quickly. Most slow approvals happen when the lender can’t see the pattern in one read.

If you’re financing a car with locum + clinic income, your file needs one clean story: who earns, who pays, and why the repayments stay stable. Start by keeping your identifiers tidy (including your ABN) so the assessor isn’t guessing.

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1) The assessment lens: “consistency + control”

With mixed income, lenders usually look for the same two signals: consistency of deposits and control of outgoings. Your job is to make that obvious without a long explanation.

Think like an assessor: they want a stable baseline that covers the repayment, even if your best weeks come and go. If you want the car done cleanly, keep it in the vehicle lane: Low Doc Vehicle Finance.

Income stream	What the lender wants to see	How you present it (fast)	Common tripwire
Locum shifts	Repeatable deposits over time and a sensible baseline.	Highlight the baseline weeks in your Bank Statements.	Only sending “best fortnight” evidence.
Practice drawings / distributions	Clear source and regularity (not random transfers).	Short note explaining what the recurring transfer is and when it lands.	Messy account movement that looks like “shuffling”.
Private billings (variable)	Stable average, not perfect months.	Show the stable months and call out one-off spikes.	Big spikes with no context.

Real-life example: A GP locum does heavy shifts in school holidays, then normalises. The file uses the “normal weeks” as the baseline and treats holiday spikes as upside — so affordability doesn’t hinge on rare months.

2) Keep the structure clean (so income complexity doesn’t spread)

The fastest approvals usually have one payer and one repayment path. The more you mix personal and clinic flows, the longer the explanation gets.

If you’re building the broader upgrade ladder (car now, equipment later), keep the lanes separate and use the medical explainer as your map: Why Medical Professionals Are Turning to Asset Finance.

• One repayment source: pick the primary account the repayment comes from.
• One story: what the “baseline month” looks like and why it repeats.
• One lane: keep clinic buffers and cashflow tools out of the car deal.
• One tax anchor: check the general rules at ato.gov.au (don’t invent your own logic).

Real-life example: A dentist works 2 days in-clinic and locums Fridays. Instead of splitting repayments across accounts, they nominate one “repayment account” and treat the other income stream as buffer — simple, assessable, faster.

3) The “clean file pack” for locums (what stops back-and-forth)

The goal isn’t to send more documents — it’s to send the right ones with the right framing. A clean pack reduces follow-up questions and prevents the deal from turning into a long email chain.

Start with a proper Trading History summary (short and factual), then lock the sequence before you shop cars: Pre-Approval.

• Baseline month: one paragraph describing what “normal” looks like.
• Income pattern: what changes across quarters (and why it’s not a red flag).
• Repayment plan: when repayments clear and what “buffer” exists for quiet weeks.
• One decision: keep vs replace at end of term (don’t leave it vague).

Real-life example: A locum anaesthetist packages the file as: baseline month + quiet months + how repayments still clear. The assessor can approve the “normal case” without needing to believe the busiest month forever.

Summary

Mixed income gets approved when it’s readable: baseline first, upside second, one repayment path. Keep the car in the vehicle lane and don’t let clinic cashflow tools bleed into the deal.

Useful next steps: Vehicle Finance · Low Doc Asset Finance · Whitecoat Pack.

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FAQ

Is this still considered low doc if I’m a locum? +

How do lenders think about what I can “afford” with variable weeks? +

What’s the one credit thing that can quietly slow approvals? +

If my accountant helps, what’s the “one-pager” usually called? +

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