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Chattel Mortgage

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What is Chattel Mortgage? 

Chattel Mortgage is where the purchaser – a business in most cases – takes out a loan to purchase movable property. The property purchased is referred to as the Chattel.

At the time of purchase, the individual or business owns the Chattel; however the lender secures the loan with a mortgage for it. Once the loan has been repaid the mortgage is removed.

Chattel Mortgages are often used by companies, businesses, partnerships and sole traders to finance business equipment, machinery, tools or work vehicles.

Benefits of Chattel Mortgage

  • Flexible contract terms
  • A residual value or balloon payment can be applied to the contract, tailoring the regular payments to suit your budget
  • Tax Deductions can be made on vehicles and equipment used for business purposes
  • Those who are registered for GST can claim the GST in a vehicle price as an input credit on their next Business Activity Statement (BAS)
  • Interest rates are lower as the loan is financed against the Chattel

Need Equipment Finance? Apply for a Chattel Mortgage

Gold Coast Finance has access to a large number of lenders from the major banks to the non conforming and second tiered lenders. We also offer invoice discounting (or factoring) for small to medium sized businesses.

Speak with our Equipment Finance specialists today and let us arrange a quote on 07 5532 6951 or apply for an equipment loan now.

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*Clients should seek independent advice regarding the most suitable commercial product for them