WHAT IS A CHATTEL MORTGAGE?
A ‘chattel mortgage’ is used to finance vehicles and equipment for business purposes. The financier provides the funds and secures the loan with a mortgage over the asset. This gives the customer direct ownership of the asset at point of sale. At the end of the term, once all obligations have been met and the mortgage has been removed, the customer will have full ownership of the vehicle or asset. It is tax effective for a small to medium business owner.
WHY DO I WANT A CHATTEL MORTGAGE?
A ‘chattel mortgage’ offers various advantages such as:
- Fixed interest rates
- Fixed monthly repayments
- The interest and depreciation are tax-deductible
- Running costs associated are also tax-deductible
WHO WOULD BENEFIT FROM CHATTEL MORTGAGE?
A ‘chattel mortgage’ is ideally suited to small to medium-sized businesses and sole-traders.
A chattel mortgage is ideally suited for small, to medium-sized businesses and sole-traders.
Any further questions on Chattel Mortgages? Contact us here.
A ‘chattel mortgage’ car loan is designed to dovetail perfectly with your business. Great interest rates, fixed payments, and tax deductible interest and depreciation mean you’ll never be too far out of pocket.
When financing a new car it’s always important to weigh your options so you get the best possible outcome. Let our staff help you find out if a ‘chattel mortgage’ is the right thing for you.
Trucks, utes, prime movers, graders, forklifts and a range of other assets are available under a Jim’s Car Loans. A ‘chattel mortgage’ is designed for people that might not have all the money upfront, but need to keep their business ticking over, or want to expand into new areas.