Under a Chattel Mortgage the financier lends funds to the customer to purchase a vehicle, plant or machinery and the customer owns the goods from the time of purchase.
The financier then mortgages the vehicle as security for the loan, by registering a Charge with ASIC.
Once the finance contract is finalised, the charge is removed giving the customer clear title to the vehicle.
Why Choose Chattel Mortgage
Flexible term.A Minimum of 1 and Max of 5 Year Terms available. A residual or balloon option can be taken to tailor payments and control cash-flow. Fixed interest rates and monthly payments ( no surprises ) Choose your deposit either cash or trade-in. Tax deductions available when the vehicle is used for business purposes A GST registered customer can claim the GST component of the vehicle price as an input credit on their next Business Activity Statement (BAS) No GST is charged on the monthly repayment or the contract balloon amount The vehicle provides the security of the loan, allowing lower, secured interest rates To find out more about a Chattel Mortgage, please send us an enquiry and one of our finance professionals will contact you shortly.
Need Help figuring out which finance package is right for your business?
Sorting through all the various business loans can be a daunting prospect. With so many loan types available, with each offering different advantages to your business, why not let Hunter Loans help you through the process and explain all the features of each loan package to you. Contact us and one of our friendly and professional staff will help guide you in the right direction and make the process easy.