Chattel Mortgage

Chattel Mortgage is a sensible approach for any business or individual that needs to either upgrade or acquire a new or used asset. This is a fixed loan that provides for the purchase of an asset in exchange for a series of payments. The asset is used for security.

Flexibility is an attractive feature of a chattel mortgage. You can choose to finance the total purchase price, use a deposit or trade-in or add a final lump sum balloon payment to reduce the loan repayments. You can even use the GST refund to contribute towards paying off the loan, thereby reducing the amount financed and the interest paid over the term of the loan.

By choosing a chattel mortgage, you become owner of the asset while the financier secures a charge over the asset. As you are the owner you may claim a tax deduction for the depreciation on the asset as well as the interest component of the loan repayments

Consider these benefits:

Minimum capital outlay
Title is always with client
Repayments are flexible
Balloon payments available
The repayments are exempt from GST
Flexible terms from 12 months to 60 months to match your individual requirements

What can you finance with Chattel Mortgage?

You can finance any new or used vehicle, plant and equipment of reasonable age and condition. The amount financed can also include your on-road charges and Insurance.

What next?

If you are happy to proceed with Asset Leasing and Finance, or you may have some questions, the first steps are to organise your quotes and finance pre-approval. Simply, this is done over the telephone taking as little as ten minutes, or alternatively we have supplied links on this website to send your enquiry directly to us.

Once we have established the best finance solution, and you want to proceed, the standard finance process usually follows:

Application
Asset procurement / sourcing / ordering
Documentation preparation
Settlement
Asset Delivery

To give yourself the best chance of getting finance approval, we recommend that you deal with one finance company at a time to avoid unnecessary hits on your credit file. Our quotes and pre- approval service is obligation free and you are not committed to us in any way until you decide to proceed.

To find out more, call 1300 ASK ALF (1300 275 253) now!