Low Doc Truck Finance
Owner-operator or contractor? Don't have full tax returns? Low doc truck finance is designed for you. We work with lenders who assess your business on BAS statements and bank statements - not complex financials. Fast approvals for transport professionals.
No tax returns required. BAS statements and bank statements usually enough.
Truck Finance Without the Paperwork Hassle
As an owner-operator or transport contractor, you know your business is profitable. Your truck is on the road earning money. But getting finance through traditional channels can be frustrating when they want two years of tax returns and detailed financials.
Low doc truck finance cuts through the red tape. Specialist lenders understand that your BAS statements and bank statements tell the real story of your business. They can see your GST turnover, your regular income, and your ability to make repayments.
At Your Lending Friend, we connect you with low doc specialists who understand the transport industry. Fast approvals, minimal paperwork, competitive rates.
Who Qualifies for Low Doc Truck Finance?
Low doc is designed for self-employed transport professionals
Owner-Operators
Running your own truck business? Low doc finance is designed for operators like you who have the income but not always the paperwork.
Sub-Contractors
Contracted to transport companies? Your BAS and bank statements can demonstrate your income without complex financials.
Sole Traders
Operating as a sole trader in transport? We work with lenders who understand simple business structures.
Small Fleet Operators
Running a small fleet? Low doc options exist for businesses with straightforward operations.
New ABN Holders
Just started your ABN? Some lenders consider new operators with industry experience and solid deposits.
Seasonal Operators
Income varies throughout the year? Low doc lenders often understand seasonal transport patterns.
Benefits of Low Doc Truck Finance
Less Paperwork
No need to chase up tax returns or complex financials. BAS statements and bank statements are often enough.
Faster Approval
With less documentation to verify, approvals can often come through within 24-48 hours.
Designed for Self-Employed
Low doc loans were created for business owners whose income doesn't fit traditional lending criteria.
Flexible Assessment
Lenders assess your actual business cash flow rather than just looking at taxable income.
How Low Doc Truck Finance Works
Getting approved with minimal paperwork
Quick Application
Tell us about your truck needs and business. We'll let you know if low doc is right for you or if full doc might get better rates.
Provide Basic Docs
BAS statements, bank statements, ABN details. No tax returns needed. We'll tell you exactly what each lender requires.
Fast Assessment
With less documentation to verify, lenders can often assess your application within hours, not days.
Get Approved
Many low doc applications are approved within 24-48 hours. Get your truck and start earning sooner.
Checking your options won't affect your credit score
What Documents Do You Need?
Low doc means less paperwork - here's what's typically required
| Document | Details | Required? |
|---|---|---|
| BAS Statements | Usually the last 4-6 quarterly BAS statements showing your GST turnover. | Usually Yes |
| Bank Statements | Last 3-6 months of business bank statements showing regular income. | Usually Yes |
| ABN Registration | Proof of your ABN registration, usually 6+ months (some accept new ABN). | Usually Yes |
| GST Registration | Most commercial lenders require GST registration for low doc loans. | Usually Yes |
| Driver Licence | Current Australian driver licence with appropriate class. | Usually Yes |
| Tax Returns | Usually NOT required - that's the point of low doc finance. | Usually No |
| Accountant Letter | Some lenders may request a letter from your accountant, but often not needed. | Usually No |
Requirements vary by lender. Contact us to discuss your specific situation.
Low Doc Truck Finance Details
Competitive finance with minimal documentation
Low Doc vs Full Doc: Which is Right for You?
Low Doc Finance
- BAS statements instead of tax returns
- Faster approval (24-48 hours typical)
- Less paperwork hassle
- Slightly higher rates (1-2%)
- Higher deposits usually required
- Ideal for self-employed operators
Full Doc Finance
- Tax returns and full financials required
- Longer approval process
- More paperwork to gather
- Lower interest rates
- Lower deposits possible
- Best if you have current tax returns
Not sure which option suits you best? We'll compare both and recommend the right path for your situation.
Low Doc Truck Finance FAQs
Common questions about low documentation truck loans
Low doc (low documentation) truck finance allows you to get approved with minimal paperwork. Instead of providing full tax returns and complex financials, lenders assess your loan based on BAS statements, bank statements, and ABN registration. It's designed for self-employed owner-operators and small business owners.
No, that's the main benefit of low doc finance. Most low doc...
No, that's the main benefit of low doc finance. Most low doc lenders don't require tax returns at all. They assess your application using your BAS statements (showing GST turnover) and bank statements (showing actual cash flow). This is ideal for operators whose tax returns don't reflect their true earning capacity.
Low doc rates are typically slightly higher than full doc lo...
Low doc rates are typically slightly higher than full doc loans - usually 1-2% more. This reflects the additional risk lenders take with less verification. However, for many owner-operators, the convenience and speed of low doc outweighs the small rate difference. We'll always compare both options for you.
Most low doc lenders prefer at least 6-12 months of ABN hist...
Most low doc lenders prefer at least 6-12 months of ABN history with GST registration. However, some lenders will consider newer ABN holders (even from day one) if you have industry experience, a solid deposit, or other factors in your favour. We'll match you with the right lender.
Typically, lenders want to see your last 4-6 quarterly BAS s...
Typically, lenders want to see your last 4-6 quarterly BAS statements. These show your GST turnover and give lenders a clear picture of your business revenue. If you're on monthly BAS reporting, the last 6-12 monthly statements are usually required.
Yes, low doc finance is available for both new and used truc...
Yes, low doc finance is available for both new and used trucks. Used trucks may require a larger deposit (typically 10-20%) compared to new trucks, but low doc options are still available for quality used prime movers and trailers.
Deposit requirements for low doc are typically 10-20%, sligh...
Deposit requirements for low doc are typically 10-20%, slightly higher than full doc loans. A larger deposit can help you secure better rates and improve approval chances. Some lenders offer lower deposit options for strong applications.
No. Low doc still requires documentation - just less than tr...
No. Low doc still requires documentation - just less than traditional loans. You'll need BAS statements, bank statements, and ABN details. True "no doc" loans are rare and typically have much higher rates. Low doc strikes a balance between reduced paperwork and reasonable rates.
Still have questions? Contact our friendly team