• The lender takes a security charge over the assets to be financed for chattel mortgage
  
• The assets must be “owned” by the client at settlement
• Supplier/dealer must therefore invoice the client for the goods
• The Chattel Mortgage may be registered with ASIC and/or the Land Title Office under a Bill of Sale
• Loan term of 12 – 60 months available for chattel mortgage
  
• The GST-inclusive amount is financed
• Deposits and /or trade-ins can be used to reduce the loan amount
• Loan can be fully amortised (nil residual balloon) or a residual balloon payment can be factored in to reduce the monthly payments.
• Other payment structures such as seasonal payments or GST going back in as a rental are available
• Customer interest rate is fixed for the loan term for chattel mortgage
  
• The repayments and residual balloon payments do not include a GST component.
• For chattel mortgage Fees and stamp duty may be included in the loan amount if desired.
• For asset depreciation and interest deductibility purposes, the asset is “owned” by the client.
• Clients on  either an accrual or a cash accounting basis for GST can claim the full GST component when lodging next BAS.
• Therefore a Chattel Mortgage is suitable for clients on a cash accounting basis for GST*
  

Benefits of Chattel Mortgage:

• Client get the ownership of the asset from the time of purchase.
• Client will get the benefit to claim GST impute credit.
• Client will get tax deductions for interest payment and depreciation as per tax table.
  

Simply send us the details of your desired purchase and a brief of your financial situation to get a free quote for your for chattel mortgage application.

We are offering No Doc ,   Full Doc Leasing and Low Doc Leasing options for Chattel mortgage applications.

Click here to submit a query for free assessment for chattel mortgage.