Chattel Mortgage

Chattel mortgage also referred to as specific security agreement is a facility whereby businesses can finance motor vehicles or equipments which are then held as security. This is a popular option amongst sole traders. It is similar to a traditional car loan whereby the asset being purchased is held as security. The purchaser owns the vehicle unlike hire purchase agreements where the bank retains ownership of the asset until it is paid in full.

Benefits of a chattel mortgage

• Fixed interest rate over the term of the loan
• lower interest rates
• you own the, not the financier
• You might be entitled to input tax credits since the purchase price being financed includes GST
• Interest and depreciation may be tax deductible depending on how much the car is used for business purposes
• Can be arranged under a low doc facility

Chattel mortgage can be used to purchase cars, trucks, tractors, prime movers, trailers, bus and other vehicle or equipment finance. Talk to our finance specialist today to see how we can help you get the right secured loan for your business. We can tailor a product to meet your individual business requirements and objectives.

Why chose Centreline finance for your chattel mortgage

• Low interest rate
• Flexible terms
• Tailored finance solution
• Best advise
• Wide range of lenders
• No financials required