Low-Doc Car Loans with Money Matchmaker™

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“Super quick, I got lots of offers. All I had to do was choose which one! I went with Wisr because they were the cheapest. Thanks” - Angela

What is a Low Doc Car Loan?

Low doc (low documentation) and no doc (no documentation) car loans are generally used by people who are self-employed.

These are also commonly referred to as “car loans for ABN holders”.

The main difference between a normal car loan and a low doc car loan is what information you’re able to give a lender when applying (usually your income).

Instead of your bank statements or tax returns (which you won’t have), lenders will often ask you to sign a declaration of income to verify your income.

This guide will tell you everything you need to know about getting a low doc car loan and how to make sure you get a good deal.

Getting a Car Loan without your bank statements

Usually, when you apply for a loan, lenders will look at your bank statements and/or payslips.

They see how much you earn and how you spend your money. This lets them know whether you’ll be able to make repayments on the loan.

The more proof (i.e. documents) you can give to show you’re able to repay the loan, the easier it is to assess your application.

If you don’t have bank statements and other standard documents, you’ll need to sign a declaration stating how much you earn.

What else you can do to get approved without bank statements

There are a few things you can do if you want to improve your chances of getting approved:

  • Buy a new car from a dealership - the older the vehicle, the higher the risk.
  • Offer a deposit on the vehicle - this lowers your loan-to-value ratio. Learn more about LVR.
  • Know your income and expenses and sign an income declaration.

Find the best deal on Low Doc car loans


Who uses Low Doc Car Loans?

Depending on your personal situation - such as whether you are using the car predominantly for personal or business use - there are a few alternatives worth considering, including:

Low-doc loans are great if you’re self-employed, a new business owner, or a seasonal worker and can’t provide verification of your income.

They’re also a really popular option if you’re an Australian tradie.

Is your job listed below? You might need to consider a low-doc application.

  • App Developers
  • Bakers
  • Bloggers
  • Life Coaches
  • Caregivers
  • Comedians
  • Dieticians
  • Event Planners
  • Farmworker
  • Fashion Designers
  • Graphic Designers
  • Hair Stylists and Personal Stylists
  • Home Stagers
  • Photographers
  • Real Estate Agents
  • Tutors
  • Web Designers
  • Writers

If you’re planning on using the car for your business (at least half of the time) you might be able to qualify for a special type of car loan call a Chattel Mortgage.

Used Car Loans with Money Matchmaker

Meet your Potential Car Loan matches

Meet Plenti
  • No Early Repayment Fees
  • No Monthly Fees
  • Get Funds 24 Hours From Approval
Meet Wisr
  • Same day decisioning
  • No admin, early repayment or "risk" fees
  • Support from real people
Meet Society One
  • No ongoing fees
  • No monthly fees
  • No Deposit Required
Meet Fair Go
  • Build your credit score by making timely repayments
  • Once approved, loans are funded in minutes
  • Flexible repayments; weekly, fortnightly, monthly options
Meet Finance 1
  • Pay your loan out early with no fees
  • Change payment dates and frequency at any time
  • Make extra repayments at any time
Meet Greenlight
  • No risk fees
  • Flexible Weekly, Fortnightly & Monthly payment frequency,
  • Make extra repayments at any time
Meet Jacaranda
  • Apply in under 8 minutes
  • Once approved, cash transferred in 60 seconds
  • No early termination fees
Meet Loans.com.au
  • Approval in 24 hours
  • Balloon options to reduce repayments
  • No ongoing or discharge fees
Meet Money3
  • Pay your loan out early with no fees
  • Increase regular payments to suit your situation
  • Make extra repayments at any time
Meet Now Finance
  • Get a guaranteed, personalised rate in 2 minutes
  • Apply online in under 10 minutes
  • Weekly and fortnightly repayments
Meet Alex
  • $0 establishment fee: offer expires 3NOV21
  • $0 ongoing fees, early repayment fees, exit fees
  • Multi Award winning and 100% digital

Differences between a Low Doc Car Loan and a No Doc Car Loan

Low doc loans are used when you are unable to meet qualifying criteria for a standard car loan and cannot provide income and tax returns for the past two years.

Low doc loans will have higher interest rates than standard car loans

No doc loans are used when you are unable to provide any evidence of your income or supporting documents.

No doc loans will have higher interest rates than low doc loans.

What you need for a low-doc car loan

Applying for a low doc or no doc car loan will be easiest through non-bank or specialist lenders. You may be asked to sign an income declaration*, and you’ll still need to meet basic lender criteria and have:

  • An ABN
  • Permanent Citizenship or Residency

The most important aspect of your application is **proving your ability to meet your repayment obligations. **

You’ll also need to provide as much information as possible about:

  • Your finances
  • Your business and how you generate income
  • Any assets you own
  • Any current loans or debts

An income declaration is a signed statement verifying how much you earn.

Basically - the more documentation you can provide to your lender as proof that you’re able to repay the loan, the more likely it is you’ll get approved, and the better your repayments will be.

The benefits of using Money Matchmaker™ to find your Car Loan

Money Matchmaker saves you time looking for your loan
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Get matched with your perfect Low Doc car loan


How Money Matchmaker™ works

Just like when you use a dating app or go to a broker, we use your answers to show you real lenders, real rates and actual repayments across all our lenders that you’re eligible for; without any broker fees or marked up interest rates.

  • You tell us about you and we scan your profile through our Money Matchmaker ™ engine.
  • We give you all the results that you match with, without any advertising or promoted offers, these are the real rates and fees, just like you’d receive when applying directly with a lender.
  • You can then choose the lender you wish to match with.

The right car loan can save you $1,000s



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Money Pty Ltd (trading as Money.com.au) provides information about credit products and is authorised to do so as the holder of Australian Credit Licence 528698. Money.com.au does not compare every Lender in Australia. We are not a broker or credit provider and when we provide information via this website, we are not providing you with a recommendation or suggestion about a particular credit product. When you apply for a credit product via the Money.com.au website, you are not applying with us, you are applying directly with a Lender Partner. Before entering into any credit product from one of our Lender Partners, you should confirm the rates and product information with the Lender. All information on this website is general advice only and does not take into account your objectives, financial situation or needs. You should consider whether this advice is right for you and we encourage you to seek independent financial advice.