Are you looking for the lowest interest rate on financing a commercial vehicle? Do you want to take ownership of the car from the outset? Perhaps you like the idea of claiming the GST on the purchase upfront. If any of these scenarios apply to you, a Chattel Mortgage might be the most suitable finance option for you.
Chattel Mortgages In Detail
A Chattel Mortgage uses your vehicle or some other non-real estate property as the security on the loan. This means you can access a low interest rate.
Chattel Mortgages are ideal for businesses that use the cash method of accounting as they are able to claim the GST associated with the vehicle’s purchase upfront.
Benefit With A QLD Money Chattel Mortgage
- Flexible car loan terms from 24-60 months
- Residual/balloon payment can be used to decrease payments
- Lower interest rate due to the secured nature of the loan
- Fixed interest rates
- Fixed payment schedule to suit your budget
- Associated costs are known in advance
- Deposit can be used to decrease repayments
- Tax deductible on interest and depreciation
- GST charged only on the residual value and GST may be claimed on the vehicle purchase price
- Ability to buy a new car
- Hands on personalised service giving you access to specialist financial help and information
- A range of loan types to suit your budget and situation
- The flexibility to use some of your own cash towards the purchase.
