Chattel Mortgage
A Chattel Mortgage is a type of finance that allows sole proprietors, partnerships and companies using the 'cash' method of accounting for the Goods and Services Tax to claim back the GST on the vehicle's purchase price on their next Business Activity(BAS). There is also a charge lodged by the Finance Provider with ASIC.
Chattel Mortgage Benefits
- Terms from 1 to 5 years fully amortised or with a predetermined balloon payment at the end;
- Fixed interest rates and set monthly repayments;
- No need for a deposit;
- The interest component of the repayments, and the depreciation on the vehicle can be claimed as a tax deductions if the vehicle is used to generate assessable income;
- The repayments are exempt from GST;
- Customers registered for GST can claim the GST that is included in the vehicle purchase price;
- Lower interest rates due to the Chattel Mortgage being secured against the vehicle;
- Receive great hands on personalised service from an experienced Chattel Mortgage consultant.
Need More Information?
Applying for a Chattel Mortgage with Your Car Loan is easy. We do all the hard work for you, can assist with selection of the right product for your requirements, prepare all the paperwork and submit it to the appropriate lender. As a finance broker we are not limited to any particular finance company - we can hunt around for the lowest interest rate, help you avoid 'hidden' fees and charges and most of all prepare the paperwork with the minimum of fuss and maximum of professionalism, we can even have you in your new vehicle within 24 hours.
If you would like more information on a Chattel Mortgage, one of our Car Finance consultants can prepare you a tailored Chattel Mortgage package.
Call the team at Your Car Loan now on 1300 220 880 or complete the online application form and we'll get back to you shortly.
