Low Doc Truck Loans

Low doc truck finance for when you need to buy an asset now, but you don’t have access to recent tax records.

Low doc truck loans

Flexible low doc truck loans finance without the need to produce up-to-date financial documentation

Low doc truck loans – flexible finance

Business opportunities run on their own schedules, and when you need funding to expand, you also need access to reputable, flexible lenders. That’s where Savvy can help. We know that companies and owner-drivers have to be ready for anything in transport and logistics – and that includes an upturn in activity. Often, when that happens, your most recent financial statements won’t accurately portray what’s going on with your business right now, and that’s where low doc truck loans can be of benefit.


A Savvy way to finance expansion

A low-doc truck loan is a commercial finance product used by many self-employed applicants and companies. It’s not always possible for Savvy’s commercial clients to provide up-to-date financial records when a need for funding occurs. For that reason, we partner with several excellent lenders who offer low doc or self-declaration truck loans. If you need to get truck finance using alternative documentation, Savvy’s expert brokers can match you with the best lenders and products for your situation.


Here’s exactly why Savvy makes perfect truck finance sense

For low doc truck finance, come to the experts. Savvy works with specialist lenders to find suitable products.

Compare lenders, calculate and save on your truck loan

Thinking of buying your truck? Savvy offers a complete range of car loan options to suit all needs. Compare and save with Savvy. Savvy has access to all major banks and lenders in the country. We hold accreditation with all the major lenders in the country and have experienced consultants to tackle any requirement.

LenderProduct NameAdvertised RateComparison RateMonthly Repayment
Savvy Secured Truck Loan 4.99%
6.60% $566.00
BankWest Business FeeSaver Loan - Res Sec 5.80%
5.80% $577.20
BankSA Business Loan Variable 6.78%
6.78% $590.93
ANZ Business Loan Variable - Res Sec 7.10%
7.10% $595.45
Commonwealth Bank BBL Var Non-Res Sec 7.81%
7.81% $605.57

* Commercial loan with the loan amount of $40,000 is looking at a 5 year secured fixed rate of 2.85% p.a. and comparison rate of 3.93% p.a.. WARNING: all fees and charges may not be included on the example above, only the comparison rates, monthly repayment and total cost applies. Therefore, the total cost of the loan might be different. Comparison rate do not include broker fees, redraw fees, early termination fees and fee waivers. Comparison rate may change as a result of the different loan terms, fees and the loan amounts. Establishment fees and monthly fees do not apply to commercial loans, only consumer loans. However, there might be different fees apply.

The tax benefits of a low doc truck loan explained

When you’re weighing up business finance, it pays to weigh up the tax implications too. Here’s the lowdown on low doc truck finance tax.

Learn all about low doc truck loans in Savvy’s FAQs section

Deposits, documentation, buying new or used equipment – everything you need to know about low doc truck loans

What are low doc truck loans used for?

Timing is everything, but bad timing shouldn’t prevent you from moving forward. New business often arrives at the wrong part of the year for tax records and accounts to reflect how healthy trade is – especially when business is booming and things are gathering momentum fast. Low doc truck loans let business owners and companies finance vehicles of all sizes and types as soon as demand occurs. Whether your main busines is grain or hay transport and there’s a bumper harvest, or you need additional trailers to haul palletised freight – we have access to lenders who specialise in that. If your primary earner is oversized loads and you need new pilot vehicles, we have a range of loan and lease options for smaller vehicles like utes and for heavier trucks too. Need a bulk tipper transport loan to upgrade your fleet, or increase your container hauling capacity? No worries, Savvy can help you source cost-efficient finance and we’ll be with you throughout your application to make sure things run smoothly. With low doc truck loans, the same responsible lending principles apply as with any other form of borrowing; you just use alternative documentation to secure funds.

Can I get a low doc truck loan without a deposit?

In order to approve no-deposit low doc truck finance, some lenders will require owner-drivers and companies to be asset-backed. In the event you don’t own property, Savvy will look to connect you with a lending partner that offers an alternative product – and some will specify a deposit (up to 20% of the loan principal) in that case. If you neither own property nor want to pay a deposit, Savvy will try and connect you with a finance provider that considers zero-deposit self-declaration truck loans. A good rule of thumb here is that loan providers charge based on risk, so expect to pay a higher interest rate for a low-doc zero deposit truck loan if you’re not asset-backed. Options vary considerably to its best to speak with a savvy broker to discuss your scenario.

What alternative documentation can I use to qualify for a truck loan?

If your tax returns aren’t representative of where your business is at, or if you’ve not yet filed for the current year, you can still get truck finance. You’ll need to provide evidence of your ABN, and some lenders will require you’ve held that for a specific length of time. Loan providers will ask to see six months’ worth of business bank statements and six months of business activity statements too. You’ll also need to supply a declaration of your financial position, and some lenders may specify GST registration.

How does secured low doc truck finance work?

Low doc truck loans usually get based on the chattel mortgage lending model. The finance provider registers an interest in your vehicle when they approve your loan and then provides the funds for you to purchase the asset. You repay a chattel mortgage like a regular vehicle loan, with terms running between one and seven years. When the agreement is paid in full, you get clear ownership of your truck.

Can I use a low doc truck loan to buy second-hand?

You can. We understand that assets and equipment in the logistics industry get built to last. Businesses need access to refurbished or reconditioned second-hand trucks, prime movers, and trailers, so low doc truck loans can be employed when buying both new and used assets. You can buy second-hand trucks with a chattel mortgage, get a loan for general freight trailers, or finance for furniture removalist vehicles – without the need for up-to-date financials. It’s all about flexibility and convenience, and access to finance right when you need that.

Can I get a low doc truck loan for personal use?

Unfortunately, self-declaration asset loans are strictly for purchasing vehicles and equipment for business use. They’re for self-employed owner-drivers, companies, and even trusts – and you must have an ABN to qualify. Some lenders may also require you to be registered for GST.

Can I use a low doc truck loan if I have Bad Credit?

You can. We understand that sometimes bad things happen to good people or businesses. Unexpected events do take place which can result with a blemish on a credit file. Our bad credit truck loan options provide flexibility when you need it. 

Can Savvy finance trucks in all states?

You we can. Savvy can finance your low doc truck loan in Sydney, Melbourne, Adelaide, Perth, Brisbane and all regional areas.

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