No - Doc Car Finance Explained

 

No – Doc car finance is a boutique product tailor made for a small niche in the market. A No-Doc car finance facility is a product for businesses that cannot provide income verification but are in the market for business equipment.

 

Our No-Doc car finance facilities start at $5,000 and can go up to about $35,000. The average lend for a No-Doc car finance facility is approximately $20,000. A No-Doc facility will just require the applicant to be running a business and have an active ABN number. The No-Doc car finance facility is set up as a lease and has no early exit fees. This is what makes it an attractive product especially when most businesses after this kind of finance generally only need the finance for a short period of time.

 

If the client is asset backed by owning a property then no deposit will be required. If the client has no asset backing then a commitment will need to be shown through a large deposit of 20% –40%.

 

A No-Doc car finance facility provides great flexibility and is a fantastic solution to a common problem among small business.