This month we're offering a free report on how to negotiate the best deal on a car with the dealership. Email info@fatfinance.com.au to request a copy of this report today.

Having your own ABN means you're eligible for some excellent tax concessions on purchasing a new vehicle. If you're self employed and need to finance a new car or equipment for your growing business, a Chattel Mortgage may be for you. We finance motor vehicles, equipment, fit-outs and trucks. For a quick quote use the button on the left, and complete the form or contact the team now on 1300 780 826.

So what is a Chattel Mortgage?

• A Chattel Mortgage facility is a product where ownership of the goods rests with the purchaser entity. i.e. your company.
• The financier takes a charge (mortgage) over the goods until the loan is repaid.
• Depreciation and interest are tax deductible. For tax purposes, the client claims the interest content of the repayments and can depreciate the asset according to ATO guidelines. 
• An input tax credit for GST if you are registered is generally claimable straight away.
• Goods purchased automatically become yours, however after the final payment the title of the goods is transferred to you
• The options of fully amortizing (paying down) the debt over the term OR including a balloon payment are both open to you.
• This balloon payment is usually between 10% - 40% of the cost price, but may be as low as one dollar, dependent upon the equipment.

A chattel mortgage is a popular financing option and available with most lenders. For more information contact us today.

Please Note: As with all financing options, clients should consult their accountant or financial adviser to determine which product is most suitable for their individual circumstances. Information on this website should not be construed as financial advice.