What is the difference between a Lease, Commercial Hire Purchase (CHP) and a Chattel Mortgage?
A lease is a financial arrangement between the financier (the owner) and either you or your employer whereby fixed payments are made to the financier with a residual payment at the end of the arrangement. Your employer or you do not own the vehicle until such time as you pay out the financier. If you are registered for GST you will be able to claim back your business % entitlement which will be the same for each period for example in a payment of $550, $50 will be the GST component. is a financial arrangement between the financier (the owner) and either you or your employer whereby fixed payments are made to the financier with a residual payment at the end of the arrangement. Your employer or you do not own the vehicle until such time as you pay out the financier. If you are registered for GST you will be able to claim back your business % entitlement which will be the same for each period for example in a payment of $550, $50 will be the GST component. Commercial Hire Purchase (CHP) a
