No Doc Replacement Vehicle Policy



*2012 Low doc car loans for purchases are still available in 2012

 call us on 1300 LOW DOC, 1300 569 362*

No Doc Replacement Vehicle Policy

Where an application is received for a replacement car being supplied by a Licensed Dealer, provision of financial statements will not be required in the following circumstances:-

  • For commercial customers and
  • Where the Purchase Price is for no more than the original cost of car to be replaced, and
  • Where Existing Credit has been in place for a minimum of 18 months and with a good history (i.e. No dishonours, all payments made on time).

Must supply current account number and the name of the finance company so a reference can be obtained.

If an unsatisfactory reference is received customer will be contacted and asked to supply the full financials and reasons as to why payments have been missed.

Does not apply where leasing exposure is greater than $100,000 or for private sales and sale and hire/lease backs.

This replacement policy has also been extended to include:-

  • Utilities and Vans
  • Bobcats,bulldozers, and excavators
  • Low Doc replacement for trucks and commercial vehicles. Low Doc Truck loans do not include Prime Movers
  • Trailers

Remember, the contract to be replaced may be current or recently paid out (no more than one month prior) and been held with a major finance company or bank.

Above are subject to lenders terms and conditions.

and Residual Refinancing

The closing of Suncorp, GE, GMAC, and Ford Credit (retail sector) in the motor vehicle finance market has raised some concerns among their clients wishing to refinance their residual values and balloons.

A number of these exiting financiers are keen to reduce their loan book as quickly as possible and are even offering favourable early payout calculations to clients wishing to terminate their loans.

We would like to assist you get through this transitional period, and are pleased to offer the following streamlined methods of when refinancing passenger vehicles of the mentioned financiers:

Refinance of Residuals/Balloons/Early payouts

  • For commercial customers only
  • Clear history with current lender for a minimum of 18 months
  • Clear Veda report
  • AML/CTF compliant application
  • Signed & Dated Statement of Assets and Liabilities at settlement
  • No financials
  • No Inspection
  • Maximum amount $100,000
  • Maximum Total Exposure in Leasing $150,000

Refinance of Early Payout

  • For commercial customers only
  • Refinance only to be considered if the contract is inside the last 12 months of the original term.
  • Vehicle Pricing to be acceptable (confirmed via Glasses Guide)
  • All other conditions as per above

As always a lender reserves the right to require that a full application with up to date financials
be submitted if requested.

The above is a guide only.

“Helping you choose wisely”