Chattel Mortgage is the appropriate product for companies or business people needing to purchase a motor vehicle or other equipment whilst retaining ownership. The financier secures the loan by registering a charge over the goods.
- Anyone wishing to purchase goods that are for mostly business use.
- Motor vehicles, trucks, industrial plant and equipment, earthmoving machinery, professional equipment.
- No initial cash outlay necessary.
- The goods themselves act as security, so your other assets are not tied up.
- A balloon payment at the end of the term can be arranged to reduce the regular repayment amounts.
- Flexible terms are available.
- Depreciation and interest may be tax deductible.
- Normally input tax credit on the total cost of the goods is claimed back on the first BAS Statement
- Term 1 – 7 years
- $25,000 +
- Fixed interest rates
- Flexible repayments and methods available