Frequently asked questions

Welcome to Quick Choice, your dedicated partner in asset finance for self-employed individuals in Melbourne, Australia. We understand the unique challenges you face and are here to provide tailored solutions. Explore our frequently asked questions to learn how we can help you secure the assets your business needs.

Common questions about asset finance

We've compiled answers to the most common queries self-employed individuals have when seeking asset finance. Our goal is to make the process as transparent and straightforward as possible.

Can I get approved if I’m self-employed or don’t show much taxable income?
Yes, many self-employed individuals who don't show significant taxable income can still be approved for asset finance. We specialise in understanding non-traditional income streams and can work with you to present your financial situation effectively to lenders. Providing evidence like business activity statements (BAS) and demonstrating consistent revenue can be beneficial.

What documents do I need to apply?
Typically, you’ll need proof of identity, your ABN, business bank statements, recent tax returns or notices of assessment, and business activity statements (BAS). For specific assets, we may also require quotes or invoices. The exact documentation can vary depending on your individual circumstances and the type of asset you wish to finance.

What's the best way for a self-employed person to get started with Quick Choice to finance an asset?
Be upfront with all the information and let the specialist find the best solution. Sometimes, it's just about getting more information than expected to mitigate any underlying risk to the lender, which can then be supported by document evidence. Sharing details about your business, income, and the asset you're interested in will help us tailor the best financing option for you.

They worry about interest rates. How does Quick Choice help with this?
We understand that interest rates are a major concern. We explain the base rate at the time of your first call, before submitting any application forms, to avoid any last-minute surprises. Our aim is to provide clear and honest information from the outset.

How much deposit do I need (or can I get no deposit finance)?
The deposit requirement can vary depending on the lender, the asset type, and your financial profile. While some clients may be eligible for no-deposit finance, others might require a deposit. We'll assess your situation and explore options that best suit your needs.

How fast can I get approved and settled?
While approval times can vary, we work efficiently to expedite the process. Factors like the completeness of your application and lender turnaround times influence the speed. We aim to keep you informed at every step.

What type of assets can you finance (cars, trucks, machinery, equipment)?
We specialise in financing all kinds of assets for self-employed individuals. This includes cars, trucks, trailers, heavy machinery, agricultural equipment, IT equipment, and much more. If it's an asset that helps your business, we'll do our best to finance it.

What are the common confusions regarding Balloon payments and deposits?
Customers are often confused about balloon payments and why they might need to pay a deposit if the asset isn't property-backed. A balloon payment is a lump sum payable at the end of the loan term, which can reduce your regular repayments. We can explain how these work and their impact on your cash flow.

What if I’ve been declined elsewhere — can you still help?
Absolutely. We have access to a wide panel of lenders, including those who specialise in supporting self-employed individuals or those with unique financial situations. Don’t let a previous decline deter you; let us explore alternative options for you.

Ready to finance your next asset?

If you're self-employed in Melbourne and looking for asset finance, Quick Choice is here to simplify the process. Let us help you find the right solution for your business needs.