What are a Chattel Mortgages features & benefits?
A Chattel Mortgage for financing a car or other vehicles has a number of main benefits: • Choice of terms (loan lengths) ranging from 24 to 60 months (two to five years) • Wide variety of residual value (balloon value) options, generally ranging from 0% to 60% depending on the type and age of the vehicle • A deposit may optionally be used to reduce the size of the loan • Tax deductions may be available when the car is used for business purposes • Input Tax Credits may be available when the purchaser is registered for GST • A Chattel Mortgage is secured against the vehicle, which allows lower interest rates A Chattel Mortgage through Stratton Finance has the following extra benefits (subject to lender selection): • No ongoing fees • Fixed interest rate, so monthly repayments are fixed for the life of the loan • Repayments can be structured, matching payment to your or your business’ cash flow • Online quotes and online approvals available Please note that this information is of a genera
