What is Chattel Mortgage and how does it work?
A chattel mortgage is a secured loan designed specifically for business. It works much like a standard car loan. You take ownership of the asset upfront and use it as collateral for the loan. Once you’ve made the final repayment, you’ll own the asset outright.
Chattel mortgages are most commonly used to finance the purchase of vehicles, but they may also be used to finance the purchase of boats, tractors, trucks, motorbikes, and a variety of other movable assets. The lender will provide the funds for you to purchase the vehicle, and you will take ownership at the moment of purchase, similar to a secured car loan. In addition, the lender will take out a mortgage on the vehicle as collateral for the loan. And when the contract is completed, you will be the sole owner of the vehicle.

Features of a Chattel Mortgage
The flexibility of a chattel mortgage is one of its most appealing features. You can adjust almost any of the terms and conditions to suit your business depending on the lender you choose. A customer who is registered for GST may claim the GST contained in the vehicle price as an input credit on their next Business Activity Statement (BAS). Other features of a Chattel Mortgage include:

- Potential tax deductions
- Immediate asset ownership
- Potential tax deductions
- Improved cash flow
- Fixed interest rate
- New or used vehicles/equipment
- Flexible loan terms, from 1-7 years
- Structured repayments to suit your cash flow
- Cash deposit/trade-in or 100% finance
- Residual value or “balloon” payment options
Feel free to contact us via our hotline 1800 010 001 for more information on the suitable Chattel Mortgage packages for you.
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Chattel Mortgage Calculator
Any calculation made using this repayments calculator is intended for illustrative purposes only. The calculator does not take establishment fees, stamp duty, or other government charges into account. Any calculations made should not be relied upon for the purposes of deciding whether to apply for a loan.
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