Want a ‘hire purchase’ arrangement that means you own your car from the day you buy it? Chattel Mortgages may fit the bill!
Money Warehouse know that financial arrangements need to suit you. That’s why you should look at Chattel Mortgages if you are buying a vehicle. Similar to Hire Purchasing, they have some differences that might suit your situation:
- You are a small business or sole trader using the cash method of accounting – recording income and expenses as and when they occur.
- Your business is just getting started and you want to maximize cash availability advantages.
- You want to claim immediate GST benefits – as well seeking out the possibilities of lower interest rates and repayments.
Any of these apply to you? Then you should talk to Money Warehouse about Chattel Mortgages.
The financial arrangements means that the lender advances you the funds to buy the vehicle and you take the title of ownership at the time of purchase. You own the vehicle from day one! The loan is secured by the lender taking a ‘lien’ or mortgage over the car which is removed when the final payment is made.
Talk to Money Warehouse and we can let you know whether a Chattel Mortgage is the right choice for you. With fixed rates and monthly repayments, the purchase is made in the name of your business. Interest repayments and depreciation are tax deductible, with contracts flexible enough to range from one to five years. You can discuss whether you want to pay a deposit or no deposit on the purchase and look at what you can do for lower rate options … the possibilities are there for you.
- Call Money Warehouse on 1300 38 39 40 and talk to us
- Or email us now.