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Sole Trader Car Loans | Business Finance
We provide access to specialist lenders to assist self-employed operators achieve workable motor vehicle funding at lower rates. While self-employment can offer many advantages, operators can face significant issues when it comes to sourcing funding through traditional channels. Primarily not meeting the criteria for approval when applying to some lenders. Criteria including size, turnover, trading time and not having sufficient financials to support the application.
As specialist brokers in the commercial lending sector, we have the lender connections, the resources, the capabilities and the skills to assist small, self-employed operators overcome these issues. Providing access to the right lenders, negotiating for lower rates and structuring outcomes with terms and conditions that will work with cash flow and towards future goals.
This won't affect your credit score
Find the Best Interest Rates
Compare Business Finance Sole Trader Car Finance Interest Rates
We understand the importance for self-employed operators to keep monthly commitments within budget. Starting with our lower rates, operators have the opportunity to secure vehicle funding at repayments that are in line with their income expectations. We achieve our lower rates through our broad coverage of the lending market and optimising our leverage with key lenders. Our latest rates can be used as a guide for planning purposes or contact us for a quote, specifically sourced to meet your exact requirements.
| Loan Product | Interest Rate | Monthly Repayment |
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Disclaimer: The comparison rate displayed is calculated for a loan of $30,000 over 5 years. The results from this calculator should be used as an indication only. Quoted repayments are based on advertised rates and do not include lender fees and charges. Results do not represent either quotes or pre-qualifications for a loan. The specific details of your loan will be provided to you in your loan contract. It is advised that you speak with us so that we can provide you with advice that is tailored to your situation.
Today's best rate
Finance Equipment From
4.99 % Fixed
* The interest rate is calculated on a secured loan for commercial use, effective 17/02/2024 and subject to change. Warning: the interest rate is only true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different interest rate.
Today's best rate
Finance Equipment From
4.99 % Fixed
* The interest rate is calculated on a secured loan for commercial use, effective 17/02/2024 and subject to change. Warning: the interest rate is only true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different interest rate.
Flexible Car Financing Options for Sole Traders - Expert Solutions
Targeted Solutions for Sole Trader Car Loans Using Our Expert Services
While smaller, one-person operators may face many obstacles, using our expert broker services is not one of them. Operators of all sizes and across all industries can use our services to source and structure their funding requirements through direct contact with no referral required.
As an Australian owned, operated and based company, we understand the Australian commercial operating environment, are across the economic indicators and the latest tax benefits available on vehicle acquisitions. Providing us with the expertise to structure individual solutions that meet the specific needs of each client.
Our services as your broker cover the entire funding process from initial briefing of your requirements; identifying which of our lenders will best meet your profile; negotiating the lowest rates and most workable conditions; structuring the terms, balloon and residual to achieve a targeted repayment schedule; and assisting with settlement to expedite the vehicle purchase.
The service is detailed, thorough and comprehensive to ensure our clients achieve the solution that will work for their individual enterprise.
- 20+ years of commercial lending experience.
- Australian based and owned company.
- Highly skilled, sharp brokers.
- No referral required.
- Sole traders, self-employed, small enterprises welcome.
- FBAA Member, Licensed Credit Provider.
Access the Right Lenders for Your Business Vehicle Needs
Get Access for Car Finance for Sole Trader from Right Lenders
A major challenge for single person enterprises requiring credit is finding lenders that are in a position to offer them affordable, workable solutions. Our services overcome that challenge through our accreditations with in excess of 80 lenders in the commercial lending market. Our lenders include the major banks, a selection of other banks as well as a diverse range of non-bank lenders.
This vast selection provides us with the essential resources to connect clients with the lender that best suits their profile and requirements. Our accreditations include lenders that have lending guidelines and criteria that facilitate affordable vehicle acquisition credit offers for the self-employed.
- Accreditations with 80+ Lenders.
- Specialist lenders for sole trader car finance.
- Extensive lender base, vast market coverage.
Explore Diverse Loan Options
Select Sole Trader Car Finance from Full Range of Loan Types
Commercial operators have a choice of a number of credit products when selecting the option that will work best for their vehicle acquisition and their commercial objectives. Holding a current ABN is an essential requirement for eligibility, being registered for GST is not required but can often be viewed as favourable by some lenders.
The range of credit options vary in regard to the interest rate; compatibility with the cash and accruals methods of accounting; how GST is applied and claimed; how tax deductions are realised; and the approach to the balance sheet. Due to the accounting nature of these variations, it is highly recommended that clients discuss this matter with an accountant or their financial advisor before briefing our brokers. ATO criteria in regard to vehicle use in a commercial operation also need to be considered.
All options can be used to fund new and used vehicles to be used in a commercial operation. We provide funding for commercial vans, utes, cab chassis, SUVs, passenger cars and other body types. Use our calculator to work up rough repayment estimates, compare makes and models and to assist with budgeting for the new vehicle purchase.
- Sole Trader Car Leasing
- Car Commercial Hire Purchase for Sole Traders
- Sole Trader Car Chattel Mortgage
Secure Competitive Car Finance Solutions with Ease
How to Get Approved for Sole Trader Car Finance with Low Turnover, No Financials
Some of the key issues facing self-employed operators seeking vehicle funding is not meeting bank and lender criteria in regard to turnover levels and documentation. Those recently set-up can be particularly affected by not having acquired sufficient financial information on the operation.
We have access to lenders that approve credit based on lower turnover, to new enterprises and to those without complete financials. It may be expected that the personal financial position and credit profile of the operator may be considered as part of the application assessment process.
- Low Doc Sole Trader Car Loan
- Car Finance Sole Trader No Docs
- Small and New Sole Trader Car Finance
Flexible Financing Options
Sole Trader Car Finance Solutions for All Vehicles, All Industries
In many industries, being a contractor or freelancer comes with the territory. For others, choosing to work for themselves can be an aspirational decision or an opportunity to derive additional or better income. We cater for clients in a wide range of circumstances with their vehicle funding needs.
- Sole trader car finance for contractors, freelancers, consultants.
- Commercial van loans sole trader owner-drivers, couriers.
- Car loans sole trader construction and building traders.
- Sole trader vehicle finance online retailers, personal trainers, therapists.
- Sole trader van finance for growers, producers, florists.
Accelerate Your Car Purchase with Fast Approval
Fast Sole Trader Car Loan Approval
Applications can be approved in 24 hours to assist buyers to finalise their vehicle purchases quickly. Apply today or request a quote.
FAQs
Sole Trader Car Financing
Yes. Self-employed enterprises may select Leasing for a new vehicle, where that product is considered best suited to their set-up. Other options include Commercial Hire Purchase and Chattel Mortgage.
Yes. To be eligible to apply for commercial credit, enterprises must hold a current ABN but GST registration is not an essential requirement.
Interest rates for motor vehicle funding vary with the selection of credit products; with different lenders; and with specifics of individual applicants. The rates shown by banks and lenders will be based on the purchase of new vehicles and for buyers with a good credit profile.
To be eligible for commercial credit, operators must have an ABN. An owner-driver courier with an ABN should be eligible to apply for funding for a commercial van.
The term approved for vehicle funding is subject to lender guidelines. The age and condition of the vehicle, the credit amount requested and credit profile of the applicant would be taken into account when a term offer is made.
Commercial credit products allow for the vehicle being purchased to be the security against the funds. Some lenders may request that small and self-employed operators provide additional security. This may be provided through a personal guarantee, property or other assets.
The tax benefits on commercial funding vary with the type of credit product. With Leasing the monthly payments are tax deductible. With CHP and with Chattel Mortgage, the vehicle is subject to depreciation based on the applicable ATO schedule. The depreciation determines the amount that can be claimed as a tax deduction each year.
Used vehicles can be funded with the same credit products as new vehicles. These include Lease, Chattel Mortgage and CHP. Rates, terms and conditions may vary for used vehicles.
Yes. Applications for motor vehicle funding can be submitted and approved prior to purchase.
Yes. A balloon is an optional inclusion with Chattel Mortgage and CHP. A residual is an option with Lease.
Buyers can use an online credit calculator to obtain rough estimates on funding repayments.
Commercial credit products vary in regard to suitability for accounting methods, taxation, balance sheet, GST and other aspects. It is advised that applicants discuss the decision with their accountant.
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Trusted by 60+ lenders Australia-wide
Trusted by 60+ lenders Australia-wide
