Full Doc Loan - Heavy Vehicle Finance Australia

How does Full Doc Equipment Finance Work?

Full doc loans for the purpose of heavy machinery finance, is when we request a clients company financials and personal tax returns for the last two financial years.

Features of Full Doc Equipment Finance

  • quick turnaround times for the client
  • small amount of paperwork is required for an approval
  • small amount of paperwork is required for settlement
  • clients can source the larger approval limits through full doc equipment loans – loans above $500K cannot be assessed under low doc (unless the transaction can be assessed under replacement policy)
  • clients have more funding options available with full doc equipment loans
  • if servicing is tight, we can prepare a cash flow projection to supplement the financial statements, to ensure the deal gets approved

Benefits of Full Doc Equipment Finance

  • this form of financing means clients can secure the best interest rates, particularly if servicing position is strong
  • gives access to funding for specialist type goods – drilling rigs, tower cranes
  • fast turnaround times for approvals and settlements
  • allows client to borrow for amounts above the low doc maximum of $500K
  • more funding options are available to client, allowing them to spread their financial risk and maximise total borrowings
  • full doc truck finance means clients are more likely to get approved when purchasing trucks older than 5 years old

Example of a Full Doc Equipment Finance used for Truck Finance

  • Purchase Price of 10-year-old Caterpillar Dump Truck – $880,000 (gst inc)
  • Requested last 2 years company financial statements
  • Requested interim profit and loss and balance for current financial year
  • Requested the last 2 years tax returns for directors of the company
  • Loan Amount – $880,000 (gst inc)
  • Facility Type – Chattel Mortgage
  • Term – 48 months
  • Balloon – NIL
  • Payments – monthly in arrears


  • As financial statements were available, client was able to obtain dump truck finance to purchase a truck that was 10 years old
  • Based on the age of the rigid dump truck purchased, we had to shorten the term to 48 months along with removing a balloon payment
  • Client was able to move quickly and secure the truck at short notice. This dump truck was required to satisfy a rapid increase in output on one of their mine sites

Who would use Full Doc Equipment Finance?

Full doc equipment funding would be used for companies that are seeking a finance approval above the $500K low doc limit or in a situation where the goods are older than 5 years old.

Heavy Vehicle Finance specialises in truck and yellow goods finance and often have success in financing the bigger deals that other lenders would not consider. If in the event servicing is tight based on the current figures, we have highly trained analysts that can prepare detailed cash flow projections – to ensure the deal gets approved.

To ask more questions about a Full Doc Equipment Finance

If you are after an obligation free discussion relating to your funding scenario, please call one of our Finance Consultants on 1300 788 740. From this initial phone consultation, we will be in a good position to offer some funding options tailored for your business.