Suite 4, Level 1, 140 Keilor Rd,
Essendon North Vic 3041
03 9377 7000

Chattel Mortgage

Is a Chattel Mortgage suitable for me?

The asset is owned by the client at settlement with the lender taking a security charge over that particular asset.

Generally terms range from 12 months to 60 months or out to 84 months with certain assets, with the ability to finance the whole purchase price of the asset, but also with the ability to put in a deposit to minimize interest repayable, and the ability to have a residual/balloon payment at the end of the term to reduce monthly payments.

For asset depreciation and interest deductability 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 their next BAS.

Chattel mortgage is for all intents and purposes the new hire purchase since GST came in, and accounts for probably 90% of vehicle & equipment financing.

Corporate Finance & Leasing is an authorised credit representative (CR 396988) of BLSSA Pty Ltd (Australian Credit Licence 391237).