If you’re looking for a chattel mortgage (aka a business loan) to purchase a vehicle, plant/equipment or even machinery for business use, Best Loans can evaluate your requirements and find the best finance that suits YOUR circumstances.
Unlike a lease or HP, a chattel mortgage gives you upfront ownership of the item purchased and security interest is passed to you by the lender once the finance is paid in full. This has tax advantages for some businesses, although you’ll need to discuss those with your accountant.
- Fixed monthly repayments.
- A cash or trade-in deposit may be used, if appropriate.
- When the chattel is used for business, a tax deduction is available.
- A balloon (residual) can be added to the contract, if required.
- GST is not charged on the monthly payment or balloon amount.
- Because the finance is secured, the interest rates tend to be lower
To qualify for a chattel mortgage the equipment financed must be used for at least 50 per cent business purposes.
Just 5 mins on the phone with one of our loan analysts will allow them to collect all the information they need to find the best Chattel Mortgage for YOUR circumstances.
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