- MOST COMPETITIVE FIXED RATES FROM 4.85%COMPARISON RATE 5.72%*
- tax deductions on interest and depreciation
- flexible terms from 1 to 5 years - residual payment ok
- fixed schedule to suit your budget
Chattel Mortgages at Highly Competitive Interest Rates
Are you looking for the most competitive interest rate on financing a commercial vehicle? Wanting to take ownership of the car from the outset (unlike a lease)? Perhaps you like the idea of claiming the GST on the purchase upfront.
Chattel Mortgages In Detail
A Chattel Mortgage uses your vehicle or some other (non-real estate) property as the security on the loan meaning you can access a low interest rate.
This type of loan is 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.
Here at 360, we are all about making your chattel mortgage easy, fast and convenient.
Benefit with a 360 Finance 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.
Secured – basically your car or some other non-real estate property (i.e., chattel) is used as mortgage security. The car’s ownership is in your name completely. Incidentally, these loans can be used for other purposes such as business equipment. If you have a preference for Chattel Mortgage, ask the team at 360 Finance.
Term / Length of the loan – the life of the loan or the time you have to pay it off. Varying the term of the loan will vary the repayments. Choose a longer term to make your repayments more affordable. We work with a range of lenders who can offer you a term and loan features to suit you.
Always happy to explain, talk through the options and always returned calls!
Balloon or residual payment – that last payment after you have been paying off your regularly scheduled payments. Whilst it is generally larger than the monthly payments, you’ll be happy to pay it at the end of the loan! You can use this to reduce monthly repayments (by having a larger residual payment and borrow that little bit extra to get the vehicle your business needs.
Why get a Chattel Mortgage through 360 Finance?
When it comes to buying cars for business, we know what you want. That’s because we have the experience of working with 100’s of business owners, plus we understand every product from our range of over 20 lenders. We are confident you’ll get the right finance product with competitive rates and realistic terms that are unbeatable. We don’t just promise to beat any written quote you might already have, we work tirelessly to do so.
Start by calling 1300 361 360 or make a quick enquiry. You will be glad you did when you drive away in the perfect new car for your business!
An item of property other than real estate.