Low doc car loans for sole traders and ABN holders.

A low doc (low documentation) car loan lets you apply with bank statements instead of tax returns. At Ume Loans it's a secured loan from $5,000 to $50,000 for self-employed Australians, including sole traders, contractors and ABN holders.

Apply online in about 2 minutes, then share your bank statements through the secure link we text and email you. A Lending Specialist will call to talk through your options. The sooner we have your application and bank statements, the sooner we can move. If you apply after hours, you can still complete your application and bank statements straight away, so we can get started the next business day.

You qualify if your ABN has been active for at least 6 months (or less if you've worked in the same industry before), your business is generating income, and your bank statements show you can afford the repayments. Credit issues don't automatically rule you out.

You need an active ABN, ID and your last 3 months of bank statements showing your business income, and you need to be an Australian citizen or permanent resident. Visa holders can apply, with additional conditions that a Lending Specialist will explain. ID is your current Australian driver's licence plus your Medicare card or other government-issued ID.

Yes, it tells you what you can borrow before you choose a car, and it's obligation free. How quickly you get one depends on how quickly we receive your information.

No. A no doc car loan would mean no documents. Low doc means we accept bank statements instead of tax returns and financial statements, and we still verify your identity, your income and what you can afford.

Yes. We assess your income from your bank statements, so you don't need tax returns, a notice of assessment or financial statements.

Your ABN needs to have been active for at least 6 months, or sooner if you've previously worked in the same industry.

No. You don't need to be registered for GST to apply.

You can, but it must be mostly for business use. If the car is mainly for personal use, see our bad credit car loans.

Yes. Defaults or missed payments don't automatically rule you out. We assess your income and what you can afford as well as your credit history.

Yes. For a low doc car loan, the minimum comprehensive credit score is 300. If your score is lower than that, we can consider you for our full doc bad credit business car loans. We look at your income, your expenses and your ability to repay as well as your credit history.

Your rate depends on a variety of factors, including your credit history, how you manage your current commitments, how long you've had your ABN and the loan term. Your Lending Specialist will explain why your rate is what it is before you decide. There are no upfront costs, and any fees are included in your loan and disclosed before you proceed. You can make extra repayments or pay your loan off early with no extra or hidden fees. Our Interest Rate Statement explains how we set rates.

You can borrow $5,000 to $50,000 over 12 to 84 months (1 to 7 years). Our minimum loan is $5,000, so we may not be the right lender if you need less.

Yes. We finance new and used cars, utes and vans from a licensed dealer or a private seller. For private sales, we confirm the seller has a clear title and put together a sales contract to help protect you, free of charge.

Yes. We require an appropriate car insurance policy noting Ume Loans as the financier. As an authorised agent for Suncorp, we can quote and include the premium in your loan, or you can use any insurer.

Starting an application doesn't affect your credit score. Ume Loans will protect your credit file by only completing credit checks when it's likely we can get you approved.

These are different concepts. Low doc describes how your income is assessed. A chattel mortgage is when the car is used as security. Ume Loans low doc loans do require a car as security.

It's a not now, not a no. If we can't approve your application today, we'll explain why and how we can work towards a future approval. You can also call us on 07 5443 3863, Monday to Friday, 8:30am to 5pm.