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Chattel Mortgage

If your potential new car is going to be used for business at least 50 per cent of the time, a chattel mortgage may be your best choice. In this scenario, the business takes ownership of the car after it is purchased while the lender ties a loan onto it. The vehicle serves as security in case of missing monthly repayments.

Benefits:

  • Low interest rate possibilities as it is a secured loan.
  • 100% financing options may apply.
  • 12 months to 7-year loan term.
  • Depreciation and interest payments are tax deductible.
  • GST benefits.
  • The business takes ownership of the car.

A chattel mortgage can be used to finance a car, truck and other equipment used in business.

Why choose 1800 Approved?

  • Flexible terms.
  • Lowest interest rate to best suit your circumstances.
  • Compare quotes from over 40 lenders.
  • Expert advice.
  • Customised finance solutions.
  • Satisfaction guaranteed.
  • Obligation-free finance quotes
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