Chattel Mortgage - Great deals from ACA!
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Chattel Mortgage by Australian Credit Acceptance.
Does a Chattel Mortgage suit your circumstances?
A Chattel Mortgage is an alternative to leasing or hire purchase, an ACA Chattel Mortgage is a fixed interest rate loan supported by a mortgage over the vehicle or goods. Additionally, it may help you to effectively manage your GST payments.
Chattel Mortgage
Features
- Terms range from 12 to 60 months
- Your repayments and interest rate is fixed for the term of the Chattel Mortgage agreement.
- Other costs associated with the purchase can be financed on the contract of your new vehicle (such as, comprehensive insurance, registration and on-road costs)
- ACA can finance 100% of the purchase price of your new vehicle or goods.
- You can have a larger final payment (balloon) subject to approval guidelines
Benefits
- Payments can be structured to suit your individual needs, with your budget and cash flow taken into consideration.
- With a fixed interest rate you are protected against market fluctuations.
- By financing other costs and insurance you can preserve your cash for other purposes.
- Interest and depreciation are generally tax deductible with chattel mortgages.
- A balloon payment will lower your regular monthly payments. This not only improves your cash flow, but makes your vehicle more affordable.
- Ownership of the vehicle is yours from the beginning of the Chattel Mortgage contract.
GST and Tax implications
- Payments on a Chattel Mortgage agreement are not subject to GST, nor is the balloon payment.
- GST may be payable on the purchase price of the vehicle and other components of the transaction.
- Please refer to your taxation advisor for details on planning an effective tax position for you or your business.
A Chattel Mortgage is not only to purchase a vehicle.
Did you now that you can also use a Chattel Mortgage to purchase new and used Plant & Equipment?
The Chattel Mortgage enables you or your Business to purchase the goods you need, and acquire immediate ownership of the asset so that you can get on with your day to day business, without a significant impact on your working capital.
If you would like to enquire about how a Chattel Mortgage can help you or your Business, please call Australian Credit Acceptance.
Call 1300 360 4500
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As an ongoing service and commitment to our clients we are proud to supply a series of informational articles connected to the goods and types of loans that we are committed to. Our fist in this series is the Horse Float Towing and Safety article which can be accessed from our Horse Float page under that Title. We are also working on several "E" Books on How to borrow which will be available shortly so watch here for further details. more.....
