A chattel mortgage is a financial product which allows you to own the car while the lender or the financier is taking a mortgage over the car as security for the loan. This also means that the lender or financier has the right to repossess the car in the case of a loan default.
Do You Need a Chattel Mortgage?
Get tax benefits and be able to claim GST along with your chattel mortgage on your next car.
Finding the Perfect Chattel Mortgage and Car Dealer in Sydney
If you are considering buying a car, it is time to get in touch with Vehicle Connect where we offer services that ensure you get the exact model that you want. Plus, we also offer a wide range of car loan options for you to choose from.
What is a Chattel Mortgage for?
A chattel mortgage is a finance product that allows a customer to own the car (or vehicle) at the time of purchase, whilst the financier takes a mortgage over the car as a security for the loan. The title of the car will only fully belong to the customer once the payments are completed.
This financial product is suitable for companies, sole traders, trusts, ABN holders or partnerships. We can connect you with a reliable car dealer in Sydney who has the car model of your choice available for finance under a chattel mortgage.
A Car Loan for Business
There are many lenders and car finance companies in Australia, so choosing the right people to work with can be confusing. Vehicle Connect takes the pressure off you by dealing with the time-consuming and tedious tasks. On top of that, we have a large network of trusted lenders and financiers that we can recommend; this means that you can avoid shady deals and confusing terms when choosing the people you want to buy your car with.
Whether you need the flexibility of residual value payments or seasonal repayments, Vehicle Connect can help you make an informed decision.
Get your Chattel Mortgage Approved with Vehicle Connect
With Vehicle Connect you have the added benefit of being to able to compare lenders. We can present you with the best offers to suit your needs, then you can decide which one you want to accept. Get your dream car while still saving money in the long run!
You can have fixed loan terms.
You can choose to have a fixed loan term anywhere between one to five years under a chattel mortgage agreement. Vehicle Connect will find you the best lender or financier for this kind of financial product AND a reliable car dealer in Sydney.
Effective cashflow solutions.
You will have the flexibility to make a balloon payment at the end of the term, which can significantly reduce your monthly repayments.
Guaranteed no hidden charges.
Your interest rate is fixed for the duration of the agreement. Vehicle Connect will see to it that the terms are understandable, clear and transparent. Rest assured that there are no hidden charges with Vehicle Connect.
You do not need to make a deposit.
You do not need to make a deposit under a chattel mortgage agreement—Vehicle Connect has a variety of car financing options for you to choose from.
Chattel Mortgage Agreements are flexible
Vehicle Connect will open up opportunities for you; once we have helped you get approved, you will have several options such as borrowing more than the car’s value, opting for balloon or extra repayments.
Chattel Mortgage FAQS
Who is eligible for a chattel mortgage?
To apply for a chattel mortgage, you must be a registered Australian business (an ABN holder) intending to use the car for over 50% business use.
How does a chattel mortgage work?
A chattel mortgage is suitable for businesses or anyone who plans to use the car for business at least 50% of the time. The business will take ownership of the vehicle while the financier or the lender ties the loan to the value of the vehicle. You can pay the loan in instalments until the end of the term, wherein the mortgage is removed.
How long can you depend on a chattel mortgage?
This kind of financial product is flexible to the needs of its clients. The duration of the agreement can range from anywhere between 12 months to 7 years, or beyond.
