A chattel mortgage (also known as an Equipment Loan or Commercial Loan ) provides finance for your business to purchase goods such as motor vehicles, trucks, earthmoving, industrial plant and professional equipment.
This type of loan allows you to take ownership of the goods upon delivery and the finance company secures the loan by registering a charge over the goods.
The goods are owned by your business without paying for them up-front, so your day to day cash flow can be put to better use.
Chattel mortgages may provide taxation benefits if the goods are used to generate assessable income. (You should speak to your accountant for information in relation to taxation benefits.)
Features of a Chattel Mortgage:
No deposit finance is available to approved customers.
Loan terms of one to five years are available.
The interest rate and repayments are fixed for the term of your agreement, although you have the flexibility to repay the contract in full before the term ends.
Repayments can be tailored to suit your cash flow. You can also have a balloon payment at the end of the loan to reduce the repayments throughout the term.
If you would like a QUOTE or would like more information about Equipment Finance and Leasing options please make an online enquiry.
Or call us on 1300556246 to talk directly with one of our Business Finance Consultants.
