Low-doc car loans for the self-employed
If you’re self-employed and your latest tax returns aren’t done, a low-doc loan lets you finance a vehicle for the business without them. You declare your income instead, and the lender checks the basics.
Who it suits
Sole traders, partnerships and companies buying a vehicle used mainly for the business, whose financials or tax returns aren’t up to date: a newer accountant, a late lodgement, or a growing business whose latest year looks different.
What lenders usually look for
Criteria differ between lenders, and limits on the amount or the age of the vehicle are common.
- An active ABN, usually for two years or more.
- GST registration.
- A declaration of your income, and that you can meet the repayments.
- A declaration that the vehicle is used mainly for the business.
- Sometimes recent bank statements or business activity statements.
Low-doc or full-doc?
If your financials or tax returns for the last two years are ready, a full-doc loan may have more lenders to choose from. If they aren’t, low-doc avoids waiting for them.
Navo checks your ABN on the Australian Business Register and shows which path applies, before anything is lodged.
Mainly personal use?
A business loan is for a vehicle used mainly for the business. If most of the use is personal, a car loan or a novated lease is the right comparison, and Navo prices those too.
Worked examples
Open an example in the Navo engine, add your own income, and see the figures for every way to pay.
An electrician buying a used ute
Sole trader, trading for years, GST registered, ute used mostly for work.
A company director buying a new van
Company, trading for years, GST registered, van for the business.
Questions
Do I need tax returns for a low-doc car loan?
No. You declare your income instead. Some lenders ask for bank statements or business activity statements.
How long do I need to have had my ABN?
Usually two years or more, with GST registration. Some lenders accept less with a larger deposit or other conditions.
Is a low-doc loan more expensive?
Often a little, as the lender takes more on trust. Compare the total cost, not only the rate.
Can I use a low-doc loan for a car I mostly drive privately?
No. Business loans are for vehicles used mainly for the business. For mostly private use, compare a car loan or a novated lease.
Reviewed 7 October 2026. General information only. Lender criteria vary and are subject to credit assessment.