Can I Get a Low Doc Car Loan With an ABN but No Tax Returns?
Can I Get a Low Doc Car Loan With an ABN but No Tax Returns?
Can I Get a Low Doc Car Loan With an ABN But No Tax Returns?
Got an ABN but no tax returns yet? You might still qualify for a low doc car loan. Here’s how self-employed Aussies are getting approved for vehicle finance — fast.
The Short Answer — Yes, You Can
If you’ve been trading under your ABN for at least 6–12 months, some lenders can approve a low doc car loan without needing your full tax returns. Instead, they’ll look at things like:
- Business bank statements
- BAS summaries or invoices
- Evidence of consistent income flow
As long as you can prove your business is active and earning, you’ve got a shot. Many self-employed drivers and tradies use this route when they can’t wait for EOFY paperwork.
Why Lenders Offer Low Doc Car Loans
Lenders know not every business has tidy books — especially new ones. Low doc loans help ABN holders access vehicles quickly, without waiting on accountants or ATO lodgements.
They’re designed for:
- Tradies, couriers, and contractors
- New small business owners
- Operators upgrading or replacing vehicles
How It Works
Instead of tax returns, lenders use your trading data to assess risk. You might only need:
- 3–6 months of business bank statements
- ABN registered for at least 6 months
- Good personal credit score
Most approvals happen within 24–48 hours — much faster than traditional car loans. According to Money.com.au’s car finance insights, low doc vehicle loans are one of the most flexible options for self-employed Australians.
Tips to Improve Your Chances
- Keep business and personal expenses separate.
- Ensure your ABN and GST registration are active.
- Maintain consistent deposits in your business account.
And if you’re not sure which lender fits your profile, that’s where we come in.
Related Reads
- Are Low Doc Equipment Loans Worth It?
- Top 5 Mistakes Business Owners Make When Applying for Equipment Finance
Frequently Asked Questions
Can I get approved without tax returns?
Yes — if you have an active ABN and can show consistent business income through bank statements or invoices, many lenders will still consider your application.
How long should my ABN be active?
Typically at least 6–12 months, though some lenders may consider newer ABNs with strong turnover and credit history.
Are low doc car loans more expensive?
Rates can be slightly higher due to reduced documentation, but approvals are faster. Compare rates before committing to ensure you’re getting the best deal.
