Hilux financed via Finance Connections - Chattel Mortgage used
A Chattel Mortgage is a loan secured over the equipment financed.
Using a Chattel Mortgage product, the purchaser takes title (ownership) of the equipment being purchased from the time of acquisition rather than on final payment.
- The interest paid and depreciation are generally tax-deductible.
- Ideally suited to businesses which account for GST on a cash basis, allowing you to claim the GST portion of the total purchase price back (up to Luxury Car Tax (LCT) limit) as an input tax credit.
Please note that you should seek independent taxation advice, as this may not be applicable to your situation.
Key features & benefits:
- The only security taken is on the equipment itself, leaving your personal assets unaffected.
- The borrower is entitled to the interest paid and depreciation on the goods.
- Repayment structures may be designed to suit individual needs.
- Balloon payments at term end can be utilised to reduce the monthly instalments.
- Fixed rate and term allow for budgeting to be controlled.