Are you a business owner? Self-employed? Maybe your employment situation means your income fluctuates, or you’ve been unable to submit tax returns for valid reasons?
If you’re looking for car finance, but you have limited or no documentation to use to prove your income level, we may be able to help you get the car you need.
Because you won’t have regular payslips to prove your income, we’ll need to verify your income for low doc car finance using alternative methods such as conduct of bank accounts, and other acceptable documents.
However, to feel confident that you’ll be able to pay the loan back, lenders may also require information about your previous employment history and a credit check.
Obviously the main benefit with low doc loans is needing very little documentation. However, there are additional benefits such as:
Building up a good repayment history
Improving your chances of success for future loans
Helping to kick start a new business, or grow an existing business
Of course, due to the nature of low doc car loans, lenders tend to charge slightly higher interest rates than for other types of car loans. As such, you need to weigh up whether you will be able to service the loan given your current income levels.
Our team of low doc car finance experts will think outside the square to get you a loan with the best repayment terms possible.