Chattel Mortgage is an alternative to a Commercial Hire Purchase/Term Purchase contract but with specific GST benefits. The financier takes a mortgage over the vehicle as security. This contract is suitable for those companies, partnerships and sole traders who use the cash method of accounting (they record business income and expenditure as and when they occur) as it allows them to claim the GST in the vehicle’s price up-front.

Product Benefits:

• Flexible contract terms ranging from 24-60 months (2-5 years).
  
• 100 per cent finance is available to approved customers, so you don’t have to tie up your day to day cash flow.
• A balloon payment can be applied to the contract, enabling the monthly repayments to be tailored to a budget.
• Fixed interest rates and monthly repayments.
• A tax deduction is available when the vehicle is used to produce an assessable income. The interest charges on the contract and the depreciation up to the depreciation limit are claimable as a tax deduction.
• Customers can claim a full Income Tax Credit (ITC) on their Business Activity Statement (BAS) following the purchase/acquisition of the vehicle and there is no GST on the monthly payments.

TTo proceed with your car loan or if you require a car loan quote, simply fill out our enquiry form or call us on 1300 104 107, and one of our qualified finance consultants will contact you to complete your application.