No two years of tax returns? You can still get a car loan.
Plenty of self-employed Australians get knocked back for missing tax returns they were never going to have on time. We compare lenders that assess you on bank statements, BAS or an accountant letter, not paperwork you do not have yet.
Can you get a car loan without tax returns in Australia?
Yes. A low doc car loan lets self-employed Australians borrow without two years of tax returns. Lenders assess bank statements, BAS statements, an accountant's letter or an ABN declaration instead. You generally need an ABN and six to twelve months of business activity, and borrowing limits typically run from $10,000 to $150,000.
- Bank statements, BAS, an accountant's letter or an ABN declaration can replace tax returns
- You usually need an ABN and at least six to twelve months of business activity
- Typical low doc borrowing limits run from $10,000 to $150,000 for vehicles
- Low doc pricing now sits close to full doc pricing
- Specialist lenders can consider low doc applications with impaired credit, where a deposit or strong bank statements help
- Free assessment with no credit file enquiry until you choose a lender
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.
No Tax Returns
Finance approved based on bank statements, BAS, or accountant's letter.
Fast Approval
Less paperwork means faster assessment and approval times.
Self-Employed Friendly
Designed for business owners, contractors, and freelancers.
Competitive Rates
Low doc rates have become increasingly competitive across our panel.
All Vehicle Types
Cars, utes, trucks, equipment, all eligible for low doc finance.
Free Assessment
We assess your situation and recommend the best low doc option.
How Low Doc Car Loans Work in Australia
Low documentation car loans were developed specifically for Australia's growing self-employed workforce. Traditional car loans require payslips and tax returns, documents that many business owners, freelancers, and contractors simply don't have in a format that suits standard lender requirements.
Low doc car loans bridge this gap by accepting alternative forms of income verification:
- Bank statements: 3-6 months showing regular business income deposits
- BAS statements: Recent Business Activity Statements showing GST turnover
- Accountant's letter: A certified letter from your accountant confirming your income
- ABN declaration: A self-declared income statement supported by your ABN registration
The lender uses these documents to assess your ability to make repayments, just as they would with traditional documentation, they just accept different evidence.
Who Benefits Most from Low Doc Car Finance?
Low doc car loans are ideal for several groups of Australian workers and business owners:
- Newly self-employed: If you've been in business less than 2 years and don't have 2 years of tax returns yet
- Business owners with complex tax structures: Where taxable income doesn't reflect true earning capacity
- Contractors and freelancers: With variable income across different clients and projects
- Seasonal business owners: Farmers, tourism operators, and others with cyclical income
- Gig economy workers: Uber drivers, delivery partners, and other platform workers
- Cash-heavy businesses: Where bank deposits may differ from formal financial statements
If your income is genuine and demonstrable through bank statements, there's likely a low doc car loan solution for you on our panel of 50+ lenders.
Low Doc vs Full Doc: Which Should You Choose?
If you have the option of applying as either low doc or full doc, here's how to decide:
Choose full doc if:
- You have 2+ years of tax returns showing strong income
- Your taxable income accurately reflects your earning capacity
- You want to access the absolute lowest rates available
Choose low doc if:
- You don't have 2 years of tax returns available
- Your taxable income is significantly lower than your actual earnings (due to legitimate deductions)
- You want a faster, simpler application process
- You're a new business owner with less than 2 years of trading history
At Simple Loans, we assess both options and recommend whichever gives you the best outcome. Sometimes a low doc application actually results in higher borrowing power because it captures your true income rather than your tax-minimised taxable income.
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Once approved, funds are settled fast, often same day. You drive away with finance sorted.
Frequently asked questions.
What is a low doc car loan?
A low doc (low documentation) car loan requires less paperwork than a standard loan. Instead of tax returns and detailed financials, lenders may accept bank statements, BAS statements, an accountant's letter, or an ABN declaration as proof of income.
Who qualifies for low doc car loans?
Low doc loans are primarily designed for self-employed individuals, sole traders, contractors, and business owners who may not have traditional income documentation readily available. You typically need an ABN and at least 6-12 months of business activity.
Are low doc car loan rates higher?
Low doc rates have become much more competitive in recent years. While they may be slightly higher than full-doc rates, the difference is often minimal, especially through specialist lenders on our panel.
What's the difference between low doc and no doc?
Low doc loans require some documentation (usually bank statements and an ABN declaration). True 'no doc' loans require almost no income verification and are very rare in Australia. Most lenders offering streamlined documentation are 'low doc' rather than 'no doc'.
Can I get a low doc car loan with bad credit?
Yes, some specialist lenders offer low doc finance for borrowers with impaired credit. Rates will be higher, but options exist. Having a deposit and a strong recent bank statement history can help offset past credit issues.
How much can I borrow with a low doc car loan?
Low doc borrowing limits depend on your declared income and bank statement evidence. Typical limits range from $10,000 to $150,000 for vehicles. Higher amounts may require additional documentation or a larger deposit.
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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.