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Self-employed finance

Low doc car loans for the self-employed

A low doc car loan lets a self-employed borrower or ABN holder prove income with BAS or bank statements instead of tax returns, usually at a higher rate than a full doc loan. Liberty, for example, publishes its low doc car loan from 8.29% p.a., for $5,000 to $100,000 over 2 to 7 years, for start-ups as well as established businesses. On $40,000 over five years at 8.29%, the repayment is about $817 a month.

What are the repayments on a $40,000 low doc car loan?

Monthly principal and interest repayments over 5 years, by loan amount and interest rate
Loan amountMonthly repayment at
8.29%p.a.10%p.a.12%p.a.14%p.a.
$20,000$408$425$445$465
$30,000$612$637$667$698
$40,000$817$850$890$931
$60,000$1,225$1,275$1,335$1,396
$80,000$1,633$1,700$1,780$1,861

Scroll the table sideways for more rates

Illustrative monthly principal and interest repayments over 5 years, before fees and charges. Rates are examples, not offers; your rate depends on the lender and your circumstances. 8.29% is Liberty's published low doc starting rate; your rate depends on your documents, the car and your credit file. Run your own numbers.

Calculator

Low doc car loan calculator

Repayments for self-employed borrowers

Loan amount$35,000
$5,000$100,000
Interest rate8.29% p.a.
6.00% p.a.15.00% p.a.
Loan term5 years
2 years7 years
Monthly repayment
$714.54
Total interest
$7,872
Total repayment
$42,872
Principal 81.6%Interest 18.4%
Get a personalised quote

Estimates only. Actual rate and repayment depend on your lender, loan structure and credit assessment.

Car loan lenders a broker can check for a low doc application

The car lenders in our directory. Only some accept low doc applications, and each asks for different documents; the broker matches what you have to a lender that accepts it.

Car loan lenders a broker can check for a low doc application: each lender's type, the products it offers and its current rate
Commonwealth Bank of AustraliaMajor bankProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
Current rate:
6.79%p.a.
8.20% p.a. comparison rate*
Personal Loan Secured (New Vehicle) · Secured Fixed Rate Car Loan, secured by the car being bought: from rate for excellent credit (rates up to 11.29% p.a.); comparison on a $30,000 loan over 5 years.
Westpac Banking CorporationMajor bankProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
  • EV / Green
Current rate:
6.49%p.a.
7.90% p.a. comparison rate*
Car Loan Secured · Car Loan for petrol, diesel or LPG cars, fixed rate, secured by the car: from rate; the rate offered depends on your credit assessment.
Bank AustraliaCustomer-ownedProducts:
  • EV / Green
  • Secured (used vehicle)
Current rate:
6.29%p.a.
6.29% p.a. comparison rate*
Clean Energy Car Loan · Electric Vehicle Loan, fixed rate, secured, new electric vehicles; establishment fee waived for fully electric vehicles; comparison on a $30,000 secured loan over 5 years.
Liberty FinancialNon-bankProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
Current rate:
8.99%p.a.
10.65% p.a. comparison rate*
Liberty Drive Secured · Flexible car loan, secured, new and used cars: from rate; comparison on a $30,000 new-car loan over 5 years with no balloon.
MoneyMeSpecialistProducts:
  • Secured (new vehicle)
Current rate:
6.24%p.a.
7.13% p.a. comparison rate*
MoneyMe Secured Car Loan · Secured car loan, variable rate, new or used vehicles: from rate for excellent credit history (maximum 26.10% p.a.); $12.50 monthly fee.
Now FinanceSpecialistProducts:
  • Secured (new vehicle)
Current rate:
7.59%p.a.
8.43% p.a. comparison rate*
NF Secured Car Loan (Tier 1) · Vehicle Loan secured by the vehicle, new or used: from rate (rates up to 15.39% p.a.); establishment fee up to $595.
PlentiSpecialistProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
  • EV / Green
Current rate:
7.99%p.a.
9.78% p.a. comparison rate*
Plenti Car Loan (Tier 1) · Secured car loan, new or demo vehicle, homeowner with exceptional credit: from rate (rates up to 12.99% p.a.); comparison on $30,000 over 60 months including a $14.90 monthly fee.
Australia and New Zealand Banking GroupMajor bankProducts:
  • Unsecured
Current rate: ANZ rate card (opens in a new tab)
National Australia BankMajor bankProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
Current rate: NAB rate card (opens in a new tab)
BankSAMajor-bank brandProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
Current rate: BankSA rate card (opens in a new tab)
Show all 16 lenders
Car loan lenders a broker can check for a low doc application, continued
ING AustraliaTier-2 bankProducts:
  • Unsecured
Current rate: ING rate card (opens in a new tab)
IMB BankCustomer-ownedProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
Current rate: IMB rate card (opens in a new tab)
Newcastle Permanent (Newcastle Greater Mutual Group)Customer-ownedProducts:
  • Secured (new vehicle)
Current rate: Newcastle Permanent rate card (opens in a new tab)
Teachers Mutual BankCustomer-ownedProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
Current rate: Teachers Mutual rate card (opens in a new tab)
Pepper MoneyNon-bankProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
  • Unsecured
Current rate: Pepper Money rate card (opens in a new tab)
Angle FinanceSpecialistProducts:
  • Secured (new vehicle)
Current rate: Angle Finance rate card (opens in a new tab)

Inclusion is editorial reference, not a recommendation. Rates change often, so we only show a rate we captured from the lender's own page in the last 60 days, with a link to that page; otherwise we link to the lender's rate card where it publishes one. The broker you are matched with compares the lenders on their own panel.

See all 20 car loan lenders

* WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate. Car loan comparison rates are based on a secured loan of $30,000 over 5 years.

Low doc car loans at a glance
  • For self-employed borrowers, sole traders, contractors and ABN holders
  • BAS or bank statements instead of tax returns; some lenders accept an accountant’s letter
  • Liberty publishes from 8.29% p.a., $5,000 to $100,000 over 2 to 7 years, start-ups included
  • Full doc secured car loans at the major lenders start lower, at 5.94% to 6.79%
  • New, used and electric vehicles can be financed

What documents do low doc lenders accept?

Different lenders accept different combinations of documents, which is why matching what you have to the right lender matters. The common ones:

DocumentWhat it shows
BAS statementsBusiness turnover and GST activity
Business bank statementsCash flow and income patterns
Accountant's letterProfessional confirmation of income
Income declarationYour stated income, signed
ABN and GST registrationThat the business exists and is trading

Who low doc car loans are for

Sole traders and the self-employed

Your income runs through your business rather than a payslip, and your tax returns may be a year or more behind because your accountant lodges them annually.

Contractors

You work under an ABN for several clients; the income is steady but documented differently to PAYG employment.

New business owners

You have an ABN and income but no completed financial year to show. Some lenders, such as Liberty, publish low doc solutions for start-ups.

Seasonal businesses

Your income rises and falls through the year, and bank statements show the full picture better than one tax return.

Low doc vs full doc: what the rate difference costs

Published rates as at September 2026: Liberty's low doc car loan from 8.29% p.a.; full doc secured car loans from 5.94% (loans.com.au, new car), 5.99% (NAB, discounted), 6.49% (Westpac) and 6.79% (CommBank). On $40,000 over five years:

LoanRateMonthly repayment
Full doc, bottom of Westpac's range6.49%$782
Low doc, Liberty's starting rate8.29%$817

Computed before fees; your rate depends on your documents, the car and your credit file. If you can produce tax returns, a full doc loan is worth pricing too, and a business car loan may suit if the car is for work.

How a low doc car loan works

1
Describe your situation
ABN details, time in business, an income estimate and the documents you have.
2
Lender matching
A broker finds the lenders whose low doc rules fit your documents.
3
Submit documents
Usually BAS and bank statements; the broker assembles the application.
4
Approval and settlement
The lender pays the seller and you collect the car.
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Full doc ranges by lender

WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate. Comparison rates are calculated on a secured loan of $150,000 over 25 years for home loans, a loan of $30,000 over 5 years for car and personal loans, and $50,000 over 5 years for equipment finance, unless the lender states another basis.

Low doc car loan FAQs

What is a low doc car loan?
A car loan for self-employed borrowers, sole traders and contractors who cannot show income the usual way, with payslips or up-to-date tax returns. Instead the lender accepts alternative evidence such as BAS statements or bank statements, and usually charges a higher rate for the extra risk.
What documents do I need for a low doc car loan?
An active ABN and alternative proof of income. Liberty publishes that, depending on your circumstances, it may ask for BAS statements or bank statements; some lenders also accept an accountant’s letter or a signed declaration of income. Requirements vary by lender, which is why matching the documents you have to the right lender matters.
Are low doc rates higher than full doc?
Usually. Liberty publishes its low doc car loan from 8.29% p.a., while full doc secured car loans at the major lenders started at 5.94% to 6.79% in September 2026. On $40,000 over five years, 8.29% is about $817 a month against $782 at 6.49%. Stronger documents, a deposit and a newer car narrow the gap.
How long does my ABN need to be registered?
It varies by lender. Liberty publishes low doc car loans for start-up as well as established businesses; Pepper Money’s commercial asset finance asks for two years of ABN registration; and Money.com.au reports at least one lender requiring 12 months of GST registration. A newer ABN narrows the field, so it pays to know which lenders accept yours before you apply.
Can I get a low doc loan for a used car?
Yes. Liberty publishes low doc car loans for new, used and electric vehicles, and says older vehicles are okay, subject to its rules. Each lender sets its own vehicle age limits, so check them before you commit to a particular car.
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