What documents do you need for vehicle or equipment finance?

Last updated 6 November 2026 · Reviewed by 360 Asset Finance Compliance

What documents do most applications need?

Whoever is borrowing, it helps to have:

• Identification for each applicant, director or guarantor.
• Asset details: a quote or invoice from the supplier, and whether the asset is new or used.
• The amount you need and when you need it.
• Income or business information: for example payslips for an employee, or bank statements, financial statements or BAS for a business.
• Existing debts: details of your other loans, leases and credit cards.

The lender may ask for more, depending on your situation, the asset and the loan.

What documents does a sole trader need for a work vehicle loan?

If you're a sole trader financing a ute, van or truck for work, you'll generally be asked for:

• your identification
• your ABN and business details
• the quote or invoice for the vehicle, from a dealer or a private seller
• evidence of income or business performance, such as BAS, financial statements, tax returns or business bank statements
• details of your existing debts and other finance.

Lenders differ in what they ask for, so check with your broker before you gather everything. Your broker will assess your income and financial situation and tell you which documents the lender needs.

What does a company or trust need?

When a company or trust is borrowing, the lender also needs to understand who is behind it. You may be asked for:

• the company's ABN and ACN, or the trust's ABN
• identification for each director, and for anyone giving a guarantee
• for a trust, a copy of the trust deed and details of the trustee
• the business's financial statements, BAS or bank statements.

Each lender sets its own criteria for the business structures it accepts. Tell us how your business is set up, and we'll confirm which lenders on our panel may consider it and what they need.

What if I'm an individual buying a car for personal use?

A car, caravan or boat bought mainly for personal or household use is consumer credit, so responsible lending rules apply. We ask about your goals, income and expenses, and check that any loan we suggest meets your needs and that you can afford the repayments. Usually you'll need:

• proof of identity
• proof of income, such as payslips
• details of your expenses and existing debts
• details of the car or other asset.

Which documents suit which borrower?

This is a general guide only. The lender decides what it needs for your application.

What asset details does the lender want?

The lender wants to know what it's financing. Have the supplier's quote or invoice, and whether the asset is new or used. For a used vehicle or machine, details such as the registration, the VIN or the serial number help.

Lenders on our panel can finance cars bought from private sellers, subject to their criteria. The lender may need to check the vehicle and confirm there's no money owing on it, for example through a search of the Personal Property Securities Register (PPSR).

What are the pros and cons of financing a vehicle or equipment?

Possible advantages

• You can spread the cost of the asset instead of paying for it all at once.
• It can leave cash for the business or your household budget.
• You can choose a structure that suits how you'll use the asset.

Possible drawbacks

• Interest, fees and charges add to the total cost.
• Gathering documents takes some effort, and the lender may ask for more.
• The asset is usually security, so you need to keep up the repayments.

How do I apply, step by step?

1. Choose the asset and get a quote or invoice from the dealer, supplier or private seller.
2. Tell your broker who is borrowing (you, your business, a company or a trust) and how the asset will be used.
3. Your broker tells you which documents the lender needs, and you gather clear, current copies.
4. Your broker prepares the application. The lender will assess your application against its criteria.
5. If it's approved, you sign the documents and the lender pays the seller at settlement.

How can I make the application smoother?

• Ask your broker what the lender needs before you start gathering documents.
• Make sure names, addresses and your ABN match across your documents.
• Use your latest statements, and send clear, complete copies.
• Tell your broker early about anything unusual, such as a recent change in your business.

Timing depends on the deal, the documents provided and the lender.

How can 360 Asset Finance help?

We're a broker working with a panel of specialist lenders. We can:

• arrange vehicle and equipment finance for individuals, sole traders, companies and trusts through our lender panel, subject to the lender's criteria;
• compare options across our panel for your deal;
• tell you which documents the lender needs before you start gathering them;
• check that names, addresses and your ABN match across your documents;
• prepare the application, work with the lender and keep you updated through to settlement;
• work alongside your accountant if the lender asks for financial statements or BAS.

FAQs

Sources and further reading:business.gov.au: Apply for a business loan · Australian Business Register: ABN Lookup · Moneysmart: Car loans

General information only. It doesn't take into account your objectives, financial situation or needs, and it isn't credit, tax or legal advice. Finance is provided by the lender you choose and is subject to its lending criteria; fees and charges apply. 360 Asset Finance is a trading name of Kuone Consulting Pty Ltd (ABN 75 647 329 002), Australian Credit Licence 566705.