Low-doc asset finance, answered plainly

Can I get asset finance for a used vehicle or used equipment?

Yes. AssetMX finances used vehicles and equipment from $5,000 to $500,000, provided the asset will be no older than 15 years at the end of the loan term and is used for business purposes. The same low-doc eligibility applies as for new assets.

Can I get equipment finance without financial statements?

Yes. Low-doc asset finance lets an ABN business trading 24+ months and registered for GST borrow $5,000 to $500,000 without tax returns or full financials, provided the deal fits lender low-doc policy.

What are the requirements for low-doc asset finance?

To qualify for low-doc asset finance your ABN must have been active for 24+ months, your business must be registered for GST, you need at least one director or guarantor, the asset must be for business use and no older than 15 years at the end of the term. Business use under 50% may affect the rates available.

What is the minimum and maximum amount I can borrow for asset finance?

AssetMX arranges asset finance from $5,000 to $500,000, over terms of 12 to 84 months, for ABN businesses trading 24 or more months and registered for GST that fit lender low-doc policy.

Why do I need to be GST registered to get low-doc asset finance?

GST registration is one of the hard eligibility rules lenders use for low-doc asset finance policy, alongside an ABN active for 24 or more months, at least one director or guarantor, and business use of the asset. It signals an established, trading business, and it also affects how GST on the asset purchase is claimed back on your BAS.

How does the $800 flat fee on AssetMX work?

AssetMX charges a single $800 flat platform fee per deal, shown separately from the lender's base interest rate, with no hidden commission loaded into the rate. It can either be paid upfront or financed into the loan alongside the lender's typical $500 establishment fee, which also varies by lender.

How much do asset finance brokers charge?

Asset finance brokers typically earn 1-2% commission loaded into the interest rate, worth roughly $3,000 to $6,000 on a $100,000 deal, and some also charge an origination fee (for example, $990). AssetMX instead charges a flat $800 fee shown separately from the lender's base rate, with no commission loaded into the rate.

What are current asset finance interest rates in Australia?

Indicative lender base rates verified on 16 February 2026 are 8.49% for a 12-month term, 7.49% for 24 months, and 6.89% for 36 to 60 month terms. These are indicative rates for in-policy low-doc applications and can vary by lender, asset and applicant. AssetMX shows this base rate separately from its $800 flat fee, with no commission loaded into the rate.

What is a balloon payment in asset finance?

A balloon payment (also called a residual) is a lump sum due at the end of an asset finance term instead of being paid off in regular instalments. It is calculated on the asset's value, not the amount financed, and the maximum allowed reduces as the term gets longer, from 65% over 12 months down to 30% over 5 years or more.

What is low-doc asset finance?

Low-doc asset finance is a loan for a business vehicle, truck or piece of equipment that is approved using bank statements and an ABN/GST check instead of full financials. AssetMX can arrange $5,000 to $500,000 over 12 to 84 months for an ABN business trading 24+ months and registered for GST, subject to lender low-doc policy.

What is the difference between a chattel mortgage and a finance lease?

With a chattel mortgage the business owns the asset from day one and the lender takes security over it; GST on the purchase can usually be claimed upfront and interest and depreciation are deductible to the business-use share. With a finance lease the lender owns the asset, the business rents it, and a residual is paid or refinanced at the end of the term.

Can I get finance to buy a vehicle or equipment from a private seller?

Yes. AssetMX can finance a private-sale vehicle or piece of equipment, provided it meets the usual eligibility rules. A private-sale asset may need an inspection, which carries a $250 fee, and you will need a contract of sale in place of a dealer invoice.

Does getting an asset finance quote affect my credit score?

No. Getting a quote through AssetMX does not touch your credit file. A credit check on the business and its directors only happens once a formal application is submitted to a lender, which is a separate step after you have seen an indicative quote and decided to proceed.

How long does asset finance approval take?

Getting a quote takes about 60 seconds online. If your application fits lender low-doc policy, conditional approval is typically given the same business day. Settlement then follows once the asset invoice and signed documents are in, often within 24-48 hours.

What documents do I need for low-doc asset finance?

Low-doc asset finance typically needs an automated ABN/GST lookup, director photo ID such as a driver licence, 3 to 6 months of business bank statements, and the asset invoice or quote. Full financials such as tax returns or BAS are not required for applications that fit lender low-doc policy.

What is the difference between asset finance and a business loan?

Asset finance is secured against the specific asset being purchased (via a chattel mortgage, finance lease or operating lease), while a general business loan may be unsecured or secured against other business assets. Asset finance on AssetMX covers $5,000 to $500,000 over 12 to 84 months, with the asset itself as security.

Why are advertised 'from' interest rates on asset finance often misleading?

Advertised 'from' rates usually show the lowest tier a lender offers, typically reserved for the shortest loan terms and strongest applications, and they often bury broker commission inside the rate rather than showing it separately. AssetMX's indicative lender rate tiers, verified 16 February 2026, are 8.49% for 12 months, 7.49% for 24 months and 6.89% for 36 to 60 months, shown separately from the $800 flat platform fee so there is no commission loaded into the number you see.

Can my business claim the electric vehicle FBT exemption?

Eligible zero or low-emission electric cars priced under the luxury car tax threshold for fuel-efficient vehicles can be exempt from fringe benefits tax when provided to an employee for private use. Plug-in hybrid vehicles lost this exemption from 1 April 2025 unless a financially binding commitment was already in place. The threshold changes each financial year, so check the current figure on ato.gov.au before assuming a vehicle qualifies.

Is asset finance tax deductible?

For a chattel mortgage, interest and depreciation on the business-use share of the asset are generally deductible, and GST on the purchase can usually be claimed on an upcoming BAS. Instant asset write-off thresholds change each financial year, so check the current threshold on ato.gov.au. This is general information, not tax advice.

What happens at the end of an asset finance term?

At the end of the term you have three options: pay out the balloon or residual in full, refinance the balloon into a new term, or sell or trade the asset and use the proceeds to clear the balance. The maximum balloon allowed depends on the term, from 65% of the asset value on a 1-year loan down to 30% on terms of 5 years or more, and it is calculated on the asset's value rather than the amount financed.