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Rates current 17-11-2023. National Loans is a Licensed Finance Broker here to assit you when you apply for a business car loan online. Get business car finance today with National Loans.
Business Car Loans
We make both purchasing and financing a car simple. Our finance experts will secure you a low rate from our panel of over 50 lenders, providing you the finance you need for your car purchase.
3 Simple Steps
2. Choose Your Car
3. Sign And Collect
Can you buy a car with a business loan?
Yes you can! As long as you have an Australian business number (ABN), you can afford the loan repayments, and you will be using the vehicle in your business at least 51% of the time. The rest of the time you can drive the car for your personal private use if you want.
Vehicle finance for business use is very common in Australia, just like it is for cars that are solely for personal use. It enables you to get the car you need for your business now, rather than waiting.
What is a business car loan?
A business car loan gives you the finance you need to buy a vehicle to use in your business. It could be any type of car — like a ute, sedan, SUV, hatchback, station wagon, people mover or light commercial vehicle — whatever best suits your business needs
Different types of businesses have different car needs. Buying a vehicle for business purposes makes practical as well as financial sense.
What are the benefits of a business car loan?
What is a business car loan term?
Business car loan terms range from 1 to 7 years to suit different business cash flow needs. If you want to lower your repayments or buy a more expensive business vehicle, it makes sense to take out a business car loan with a longer term.
On the flip side, if you can afford higher repayments or want to buy a less expensive vehicle, you can take out a shorter business car loan term to pay it off faster. You’ll own the car sooner and also save on interest.
Some lenders will only approve business loans for new vehicles, while others will approve finance for both new and used cars. However, used cars usually have shorter finance terms available.
Our business car loan experts know which ones approve business loans for used cars and which ones don’t, so once again it’s best to get in touch for advice. It will save you time and the hassle of researching the market yourself. We do it for our car buying clients for a living.
What are business car loan rates?
Business car loan calculator
Can I get a business car loan if I have a bad credit history?
What are business car loan requirements?
Besides your ABN, the main thing that any lender will assess is that you can afford and will make your business car loan repayments
Information most lenders will require to make this assessment for any business vehicle and equipment loan applications includes the amount you want to borrow, the loan term, and evidence of your business income, cash flow, assets and liabilities. Your cash flow show should demonstrate that you can afford to make your business car loan repayments.
The best evidence of your financial situation is your most recent business tax returns (such as business activity statements) and financial statements prepared by your accountant. Lenders will also require you to provide proof of your identity.
Ideally, you should try and get a pre-approval for your car loan for business purposes. In other words, get your car finance approved before you start looking. That way, you will know the price of the vehicle you can afford.
This will not only save you time looking for a business car that’s within your budget, it will also give you negotiating power with both dealers and private sellers. Some dealers and private sellers will offer discounts for buyers with pre-approved finance.
Low doc business car loans
How to get a business car loan
Business Car Loans Calculator
Why Choose National Loans?
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We work for you, not the lenders, to get you the lowest rate and lowest repayment
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Apply in less than 5 minutes and get your loan pre-approved in as little as 1 hour
Access Lower Rates
25 years of industry experience sees us being able to access the lowest rates possible for each customer
Free Car Finder Service
Get access to new vehicles at fleet prices and a large selection of used cars
What our customers say 1500+ Reviews
Trusted Bank Partners
Yes, we have fantastic relationships with a large number of car dealers , giving us access to fleet pricing on new vehicles and a large selection of used cars
This is dependant on your circumstances. After receiving any supporting documents we may need, in most cases we can have an approval in 1 hour.
That’s absolutely fine, give our friendly team a call on 1300 358 358.