| Chattel
Mortgage: For business use |
| Purpose |
- Provides finance for companies and business
professionals to purchase goods such as motor vehicles,
trucks, earthmoving, industrial plant and professional
equipment, which are for business use more than 50% of the
time.
|
| How it works |
- You take ownership of the goods upon delivery and the
financier secures the loan by registering a charge over the
goods.
|
| Product Benefits |
| Minimal capital
outlay |
- You own the goods your business needs without paying for
them up-front with a chattel mortgage. So you can put your
day-to-day cash flow to better use.
|
| Tax deductible |
- A chattel mortgage may provide tax benefits if the
financed goods are used to produce assessable income. Speak
to your accountant for further information about tax
benefits.
|
| No deposit |
- 100 per cent finance is available to approved customers,
so you don’t have to tie up your day-to-day cash flow.
|
| Match your cash
flow |
- Repayments can be tailored to suit seasonal cash flow.
You can also arrange to make a balloon payment at the end of
the loan to reduce repayments throughout the term.
|
| Early
repayment |
- You have the flexibility to repay the contract in full
before the term ends
|
| Interest rates |
- Your new equipment acts as the security for the loan, so
we can offer you a competitive interest rate, which will be
fixed throughout the life of the loan.
|
| Product Features |
| Term |
|
| Loan amount |
|
| Repayment
frequency |
- Monthly, quarterly, semi-annually, annually, seasonally
or irregularly.
|
| Repayment methods |
- Direct debit and periodical payment from a nominated
bank account, BPAY® and cash/cheque deposits via a cash
booklet.
|
