Car Loans for Contractors and Freelancers
Contract work, variable income or work through an agency. We compare eligible options from our panel of 50+ lenders, including lenders that may assess contract income, and explain how they differ.
Australian Credit Licence 509582. Lender fees may apply. Lender criteria apply.
Can contractors get a car loan without two years of tax returns?
Contractors and freelancers can apply for a car loan in Australia without two years of tax returns. Some lenders on our panel may assess a current contract, recent invoices or bank statements instead. Approval, rate and loan amount depend on the lender's assessment.
- Fixed term, rolling and labour hire contract income may be assessed by some lenders on our panel
- Some lenders may accept bank statements and a current contract in place of two years of tax returns
- Labour hire and agency workers are often asked for several months of consistent payslips
- Gaps between engagements are assessed case by case, and a steady contracting history helps
- Rates are set by the lender and depend on your circumstances
- No upfront assessment fee. Lender fees may apply, and we may receive commission if your loan settles
Reviewed by Simple Loans Editorial Team · Last reviewed
The Simple Loans Editorial Team researches and reviews every car finance guide published on simpleloans.au. Simple Loans holds Australian Credit Licence 509582 and is a member of AFCA.
Why choose Simple Loans.
Contract Income Considered
Some panel lenders may assess contractor, freelance and agency income.
Low Doc Options
Some lenders may consider bank statements or BAS instead of two years of tax returns.
Many Contract Types
IT, construction, mining, labour hire and freelance professionals can apply.
ABN or Agency
Options may exist whether you operate with an ABN or work through an agency.
Rates Set by the Lender
Your rate depends on the lender's assessment of your circumstances.
No Upfront Fee
No upfront assessment fee. Lender fees may apply.
How lenders may assess contractor income
Contract income is assessed differently from a permanent salary, and lender policies differ. This is what lenders often look at:
- Income consistency: regular deposits into your account over a period of time
- Contract history: a pattern of renewals or engagements that follow one another
- The current contract: how long it runs and what it pays
- Your expenses and commitments: what is left after your living costs and existing debts
No occupation guarantees an outcome. Approval, rate and loan amount depend on the lender's assessment. We compare eligible options from our panel of 50+ lenders and explain how they differ.
Types of contractor finance
Depending on your situation, you may be able to consider several finance structures:
- Full doc car loan: uses tax returns to verify income
- Low doc car loan: uses bank statements or BAS for contractors with fewer returns, often with different pricing
- Chattel mortgage: a business finance option for ABN holders; ask your accountant about the tax treatment
- Agency or PAYG contractor loan: a standard car loan using agency payslips as proof of income
Each option has different rate structures and documentation requirements. Our job is to compare the eligible options for the documentation you have and explain how they differ.
If you run your own business rather than working on contract, see self employed car loans. If you are a casual employee paid through a labour hire agency rather than your own ABN, see car loans for casual workers.
Contractors across different industries
Contractors in IT, construction, mining, healthcare, professional services and creative work can all apply. Contract patterns differ by industry, and lenders look at your actual contract and income history rather than your industry alone. A rolling short contract can be assessed differently from a longer fixed term engagement.
Simple Loans holds Australian Credit Licence 509582 and is a member of AFCA. This page is general information and does not take your personal circumstances into account.
How it works.
Apply Online in Minutes
Fill out our simple online form, no paperwork, no obligations, and zero upfront fees. Lender fees may apply.
We Compare 50+ Lenders
We search our panel of banks and specialist lenders to compare eligible options for your situation.
Drive Away Happy
Once approved, we arrange settlement with the lender and the seller. You drive away with finance sorted.
Frequently asked questions.
Can I get a car loan as a contractor?
You can apply. Some lenders on our panel may assess contractor income, whether you are on a fixed term contract, a rolling contract or working through an agency. Approval, rate and loan amount depend on the lender's assessment.
What documents do contractors need?
Usually your current contract, recent invoices or payslips, recent bank statements, and your ABN details if you have one. Some lenders may also consider a letter from your accountant confirming your income.
Do I need 2 years of tax returns?
Not always. Some lenders ask for two years of returns, while some low doc lenders on our panel may consider recent bank statements and your current contract instead. Low doc options can come with different pricing and conditions.
Can labour hire workers get car loans?
Labour hire and agency workers can apply. Lenders usually assess your regular income from the labour hire company and often want to see several months of consistent payslips.
What if there are gaps between contracts?
Gaps between contracts are common, and lenders look at them case by case. A steady history of contract work over time can help show that your income continues. How much a lender allows for gaps depends on the lender.
Do I get better rates with an ABN?
Not necessarily. An ABN can open up business finance options such as a chattel mortgage, but that does not mean a lower rate. We compare consumer and business options from our panel and show you the total cost of each, fees included. Ask your accountant how each option affects your tax.
Does applying affect my credit score?
Submitting this enquiry does not itself create a hard credit enquiry. If you choose to proceed with a lender, a credit check may be required. We will explain that step before a formal application is submitted.
Ready to get started.
No upfront assessment fee. Lender fees may apply. We compare eligible options from a panel of 50+ lenders.
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Simple Loans is a finance comparison tool. Holder of Australian Credit Licence No. 509582. All applications are subject to lender approval. Terms, conditions, fees and charges apply. This information is general in nature.