Chattel Mortgage

A Chattel Mortgage or Bill of Sale Agreement can provide your business with an alternative method of funding for vehicle and plant & equipment acquisitions. This type of loan is designed to optimise cash flow, while minimising the impact of GST.

The Chattel Mortgage enables you to purchase the goods you need and acquire immediate ownership of the asset so that you can get on with your day-to-day business, without significant impact on your working capital.

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Benefits of Chattel Mortgage

  • The full GST amount on the purchase price can be claimed and lodged in the business activity statement.

  • The depreciation and interest can be claimed as a tax deduction at the end of the financial year, reducing the tax payable to the ATO.

  • A Chattel Mortgage term can be from 12 months to 84 months.

  • The interest is set at a fixed rate, principal and interest payments apply.

  • The ownership of the asset is done at time of purchase.

  • Payments can be made weekly, fortnightly, monthly, quarterly, seasonally, yearly, and structured.

  • Residual or balloon payment can be made at the end of the term to the loan to reduce monthly payments.

  • Deposits can be put towards the purchase, this can also be in the form of a trade or cash or even both, or the purchase can be financed 100%.

  • A Chattel Mortgage can help preserve cash flow and working capital.

Learn more about Chattel Mortgages in our article Chattel Mortgages Vs Finance Leasing

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