Chattel Mortgage - DOC by ozr23200

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									Chattel Mortgage

A Chattel Mortgage Agreement allows you to take full ownership of the asset once the finance has
settled. The financier involved registers a charge over the asset. You make regular repayments for this
asset and once final payment is received this charge is removed

Available to individual business professionals, partnerships or companies.

The type of asset you can purchase is endless: Motor vehicles, buses, trucks, trailers, plant, equipment,
earthmoving machinery, tractors and so on.

Benefits:

  No deposit is required, but you may still contribute to reduce amount financed
  The asset being financed is in most cases sufficient enough security for the financier
  For taxation purposes you can claim interest and depreciation as a tax deduction depending on
    the amount of business usage from the asset, plus you can also claim the GST upfront on the
    purchase price of the asset depending on your tax setup (As each individual’s or company’s set up
    is different please see your accountant for further clarification and guidance about the tax
    benefits).
  You can tailor your repayments to suit your cash flow for example put a balloon payment at the
    end to reduce your repayments
  The interest rate is fixed for the term of the loan which means your repayments don’t alter
  Pay the loan out in full at anytime

Features:

  You can finance the asset from 1 year to 5 years
  Finance amounts start from $10,000 and upwards
  Choose your own repayment frequency to suit your business. Monthly, quarterly, semi – annually,
     annually, or irregular
  And make your repayments via D-debit, BPAY, coupon book and periodically.

								
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