Chattel Mortgage

A Chattel Mortgage is a commercial finance product where the customer takes ownership of the asset (chattel) at the time of purchase.
Under a Chattel Mortgage the financier advances funds to the customer to purchase an asset, and the customer takes ownership of the asset (chattel) at the time of purchase.
With Chattel Mortgage the customer can claim the interest charges on the contract and depreciation (in the case of vehicles up to the depreciation limit*) as a tax deduction.

The benefits:

  • You can finance 100% of the vehicle purchase price, or place a deposit.
  • You are protected from interest rate fluctuations during the term of the loan.
  • You can repay the loan at any time during the term of the agreement.
  • You don't pay GST on the loan or the repayments.
  • If you use your car to generate assessable income, the interest component of the repayments and the depreciation on the car may be tax deductible.
Laurie O'Brien
Managing Director / Finance Broker
lobrien@bridgecoastfinance.com.au
Ph: 0419 231 975
Marie O'Brien
Accredited Mortgage Consultant
mobrien@bridgecoastfinance.com.au
Ph: 0418 493 288