CHATTEL MORTGAGE

LOW RATE
CHATTEL MORTGAGE LOANS FOR TRUCKS AND CARS

WHAT IS A CHATTEL MORTGAGE?

Chattel Mortgages are a business loan facility, available to the Self Employed including Sole Traders, Parternships, Company and Trust borrowers.

The Lender will pay the Supplier the funds, and you will take possession of the goods. The Lender will take security over the goods you are purchasing, and when the loan is repaid you will own them.

They are a facility commonly used by business, for funding their purchases.

  • Fixed Interest Rates

  • Tax Benefits associated to the purchase*

  • Depreciation and Interest deductions*

  • Balloon Values

  • 7 year loan terms

  • Low Doc Loans are available.

  • ABN holders using the asset they are purchasing predominantly for business purposes

  • Sole Traders

  • Partnerships

  • Companies

  • Trusts.

  • PAYG Applicants receiving a Car Allowance.

Check out some of our blogs before you buy and apply.

COMMON QUESTIONS

Yes, unless you are an employee of a business receving a car allowance.

No, if your turnover is below the thresholds required to register for GST.

Yes it is, if you meet the other lender requirements.

Yes. these can be substantial if you repay the loan prior to the expiry. The quantity is unknown at inception of the loan, and varies between lenders. It can equate to the full interest charges initially agreed in the Chattel Mortgage contract.

Yes, if you are GST registered.

No, if you qualify; a deposit is not required for a Chattel Mortgage.

*discuss any tax related issues with your tax advisor/accountant.

What our customers say

5/5
yesapproved.com.au
5.0
Based on 41 reviews
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Michael HancockMichael Hancock
04:45 20 Jul 22
Steve was very professional in his approach and the turnaround for trransaction was beyond my expectations.Definitley recommended.
Tina DonaldTina Donald
06:06 18 Jul 22
The best decision you can ever make is to deal with Steve. His professionalism,knowledge, feedback,access to market leading products and overall outstanding service make him the only choice for your finance needs. Steve made me feel at ease from the start & followed this up with integrity & friendliness. He is second to none & I cannot recommend him highly enough. Totally exceeded my expectations with finance package & rate. When you find the best, stick with them 👍
Ken ReadKen Read
06:57 14 Jul 22
I was referred to Steve from yesapproved for a recent loan for a motor vehicle purchase. I was overseas at the time the vehicle arrived and paperwork needed to be completed. I was very impressed with the ease the transaction was approved and completed. The vehicle was ready for delivery when I returned.
Anshul KapaniaAnshul Kapania
08:40 30 Jun 22
Steve is best. Beautiful service and very helpful. Thank u so much will do business again soon.
Denise QuathamerDenise Quathamer
16:42 04 Apr 22
We were very happy with the thorough, helpful, and efficient service we received from Steve. He kept us up to date throughout the lending process through to post settlement. We highly recommend Steve and would definitely use his services again.
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chattel mortgage

What is a chattel mortgage?

Chattel Mortgages are a business loan facility, available to the Self Employed including Sole Traders, Parternships, Company and Trust borrowers.

The Lender will pay the Supplier the funds, and you will take possession of the goods. The Lender will take security over the goods you are purchasing, and when the loan is repaid you will own them.

They are a facility commonly used by business, for funding their purchases.

The benefits of a chattel mortgage

  • Fixed Interest Rates

  • Tax Benefits associated to the purchase*

  • Depreciation and Interest deductions*

  • Balloon Values

  • 7 year loan terms

  • Low Doc Loans are available.

Who is eligible for a chattel mortgage?

  • ABN holders using the asset they are purchasing predominantly for business purposes

  • Sole Traders

  • Partnerships

  • Companies

  • Trusts.

  • PAYG Applicants receiving a Car Allowance.

*discuss any tax related issues with your tax advisor/accountant.

Common Questions:

Do you need an ABN?

Yes, unless you are an employee of a business receving a car allowance.

Is GST Registration required?

No, if your turnover is below the thresholds required to register for GST.

Is Low Doc Available?

Yes it is, if you meet the other lender requirements.

Is a 7 year loan term available with a Residual Value?

No, you can choose a 7 year loan term or a max term of 5 years with a residual value.

Are there early repayment penalties?

Yes. these can be substantial if you repay the loan prior to the expiry. The quantity is unknown at inception of the loan, and varies between lenders. It can equate to the full interest charges initially agreed in the Chattel Mortgage contract.

Do i own the Goods at the end of the contract?

Yes.

Can i claim the Input Tax Credit on the Goods*?

Yes, if you are GST registered.

Do i need a deposit?

No, if you qualify; a deposit is not required for a Chattel Mortgage.

*discuss any tax related issues with your tax advisor/accountant.

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