Chattel Mortgage

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MOTOR VEHICLE MACHINERY PLANT AND EQUIPMENT

A chattel mortgage allows businesses ranging from sole traders to large corporations to secure a loan against a vehicle or machinery plant and equipment. The goods financed must be used for a minimum of 50% business use to qualify for such a loan.

A chattel mortgage enables you to claim the interest content of your loan against your taxable income.
As well you can claim depreciation on the item financed this also comes off your taxable income.
The running cost and expenses for repairs and maintenance are also able to be claimed as business expenses.
You can claim the GST content of the purchase price.
(Please contact your accountant or financial advisor to check if this option is best for you)

• A Business (contractors, companies and sole traders) looking to renew or replace an existing vehicle or plant and equipment.
. • Sole traders with an ABN looking to purchase a vehicle.
• For applicants with a good credit history, such a loan is able to be obtained with minimal documentation (i.e. a low doc loan)

• Own the vehicle from the start of the agreement •
• Access to tax benefits benefits.
• Pay no deposit for approved customers and get 100% finance.
• New, Used and Privately sold vehicles can be financed.
• Loans from $5000-$1,500,000+
Payments can be structured to suit cash flow.

GST can be claimed on the purchase price and credited back to you or your business.
Depreciation can be claimed on the purchase price of the vehicle, machinery or plant and equipment.
The interest content of the loan may be tax deductible.
Running costs and maintenance are also able to be claimed

* Please contact your accountant or financial advisor to see if this loan is appropriate to your circumstances.