Low Doc Car Finance

 

If you are a sole trader, partnership or company that cannot produce documentation such as financials requested by other financiers, please do not stress. At Quantum Finance Solutions we may be able to assist through our flexible Low-Doc product.

We are able to assist clients with a Low-Doc car loan if the client has either good credit or bad credit. Bad credit applications will receive a higher interest rate because of the added risks involved and will also need to show more strength through employment and residence in order to get the application approved.

The two products that we offer are:

Low-Doc consumer (minimum 2 years ABN). In this case the vehicle purchased will be predominately for private use. The loan will be set up as a consumer car loan.

Low-Doc commercial (minimum 2 years ABN). In this case the vehicle will be predominately for business use. The loan will either be set up as a chattel mortgage or Hire purchase.

With a Low-Doc car loan the finance provider will request 3 months worth of bank statements to verify income. Using this information they will project an annual income and use 70% of that figure when calculating serviceability. This is how income is established with a Low-Doc facility.

Benefits of a Low-doc car loan?

Low documentation required to finalise application
Fixed interest rate for the term of the loan
Be able to set a facility when most financial institution will decline the application because of lack of income verification.
Balloon (residual) can be set up to reduce monthly repayments
Tax benefits will apply because the transaction will either be set up as chattel mortgage or Hire purchase.

Why choose Quantum?

Quantum finance solutions is a company that “will work for you” from start to finish in order to provide you with the best possible solution. We guarantee the best rates and lowest repayments on the market and you can feel comfortable knowing that you are dealing with an expert in the field of car finance.

 

If you require further Low-Doc assistants, either call 1300 974 066 to speak with an experienced car finance consultant or complete a quick enquiry form

 

What is the best car finance solution for you?

At Quantum Finance Solutions we have a diverse list of car finance products for you to choose from. Whether it is a Hire purchase,Chattel mortgage,Car lease,Novated lease,Secured car loan,Unsecured car loan,Low-doc loan,No –doc loan or Start- up application we have the right solution for you.

To work out which solution best suits you please either call 1300 974 066 to speak with an experienced car finance consultant or complete a quick enquiry form