A Chattel Mortgage involves you taking ownership of the vehicle or equipment (chattel) at the time of purchase. Aussie Asset Finance then take a “mortgage” over the asset, using it as security for the loan.
What are the benefits of a Chattel Mortgage?
There are a number of benefits to using a Chattel Mortgage to finance your next business vehicle or equipment purchase, including:
- Flexible contract terms (up to five years)
- A larger upfront deposit or final instalment can be tailored to your needs
- Seasonal payments available
- GST refunds may be paid into the loan to reduce monthly instalments and interest charges
- Interest charges and depreciation may be deductible for tax purposes if the asset is used for income generating purposes
- If your business is registered for GST, you may be entitled to an input tax for credit on the GST component of the vehicle or equipment purchase price
Why get a Chattel Mortgage from Aussie?
Apart from the benefits listed above, getting your Chattel Mortgage from Aussie Asset Finance means a hassle-free, highly personalised service. We can even arrange pre-approved finance for your next vehicle or equipment purchase, giving you total peace of mind and greater bargaining power.
Are there other options that I should consider?
A Chattel Mortgage is a good option if you’re looking to finance a motor vehicle or business equipment purchase for your business, but there may be other options worth considering. Check out the information on Novated Leasing, Commercial Hire Purchase and Finance Lease to compare.
Want to know more?
Call us now on 1800 097 234 or contact us online for a quote or to discuss how a Chattel Mortgage from Aussie can assist your business to find the best possible financing solution for your needs.
There are a number of potential tax benefits that may be available using Chattel Mortgage, including the ability to claim interest and depreciation on tax, as well as input tax credit benefits on the GST component of the vehicle or equipment purchase price. Seek appropriate advice from someone familiar with your business situation to fully understand how these tax implications impact your business.
The definition of chattel can vary based on the context, but it is generally used in reference to something that can be considered a possession. Therefore, the term Chattel Mortgage means a mortgage on a possession like a motor vehicle etc.
All applications to Aussie Asset Finance are subject to satisfaction of approval criteria, and terms and conditions apply. No part of this document is to be construed as an offer by anyone capable of acceptance or as a solicitation to obtain a financial product. The information is not an expression of opinion or recommendation and does not constitute financial, accounting, taxation, general or personal advice and should not be relied upon as such. The recipient should make its own assessment of any product or service referred to on this website and seek appropriate advice.
Aussie Asset Finance is a registered business name of Macquarie Leasing Pty Ltd ABN 38 002 674 982 (Australian Credit Licence 394925) and is used under licence.
The "Aussie" trademark is a trademark of AHL Investments Pty Ltd ABN 27 105 265 861. Credit assistance services are provided by AHL Investments Pty Ltd (Australian Credit Licence 246786) and its credit representatives. The credit provider is Macquarie Leasing Pty Ltd.