Vehicle finance without financials
Under normal circumstances a lender will require evidence of 2 years profitable trading to support an application for vehicle finance. There may be occasions where a business is not in a position to provide 2 years financial statements.
There are however a number of situations where the transaction can still be funded.
Finance can be obtained without financials where a vehicle already under finance is being replaced. The following conditions apply:
For example Jim wants to upgrade his existing vehicle originally purchased for $35,000 3 years ago but he can not provide financials to support the application. Under the replacement vehicle policy Jim could finance a new vehicle up to the value of $42,000 without providing financials as long as he met the above criteria.
If Jim was not replacing a vehicle there would still be other options available to him. In fact if Jim had been in business for 3 years and had over $100,000 equity in property he could finance up to $50,000 for a vehicle purchase without the need to provide financials.
This type of funding is available for both new and used vehicles. For further enquiries or to request a quote contact Greg Carroll on 07 36666 0110 or contact us