SUITABLE ASSET FINANCE
Chattel Mortgage
Instant ownership and tax benefits
Take advantage of ownership from the start, the option of a balloon payment at the end of the term, and tax benefits available to your business. Our solutions can help you free up your cash flow so your business can grow.
Deep Industry Expertise
We have deep industry expertise and knowledge gained through actual hands on experience in industry. We build long standing relationships with customers and can understand your business and industry sector.
Broad Industry Experience
Unique to Suitable Loans we have previously worked in industries such as Building and Construction, Manufacturing, Telecommunications, Music, Arts & Entertainment, Retail, Government, Automotive, Education, Information Technology, Healthcare, Financial Services
Your trusted Advisor
You have our Asset Finance team behind you to support you through the asset financing process and beyond. We're paid by the lender, not by you. We negotiate with lenders and look after your best interests.
Chattel Mortgage features
- Amount financed - up to 100% or a lesser amount if there is a deposit or trade in
- Asset suitability - suitable for high value equipment with medium to long term lifespan such as medical equipment, engineering, utilities, assets for professional services, infrastructure, plant, equipment, machinery, passenger vehicles, light and heavy vehicles, retail, office, restaurants, fit-outs
- Ownership from the start - unlike a hire purchase or finance lease a chattel mortgage gives you ownership from the start
- Asset and Liability - the equipment appears as both an asset and a liability (the loan) on your balance sheet
- Fixed term - the length of the loan is a fixed term similar to a home loan or mortgage, but for a shorter period of time usually from 1 to 5 years
- Balloon Payment - choose a balloon payment for the end of the loan term if you want to keep monthly payments down and free up business cashflow
- Secured Loan - the lender uses the equipment as security against the loan
- Flexibility - structure your loan term and repayments in a fixed way so they suit the cashflow of your business such as monthly , quarterly or seasonal cashflow
- Refinance - the asset can be refinanced for a further term
- Upgrade - once you've paid off your loan you can take out a new chattel mortgage to upgrade your equipment
- Tax benefits - claim the GST on the initial purchase price as an input tax credit , and also claim interest and depreciation costs depending on how much you use the equipment for business purposes
