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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.


Replacement vehicle

Finance can be obtained without financials where a vehicle already under finance is being replaced. The following conditions apply:


  • The existing finance is being paid out
  • The existing account must have run at least 18 months
  • The conduct on the existing account must be unblemished
  • The new amount financed is no more than 20% higher than the original amount financed on the account being paid out
  • The vehicles must be sourced from reputable, well known, licensed dealers
  • The business must have an ABN registered for 2 years
  • Applicants are in a sound financial position


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.



Other options

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