A Chattel Mortgage is a finance product where the client
retains the ownership of the asset and the financier takes a
mortgage of a lien over the assets. The mortgage is removed at
the end of the contract, thus giving the client full ownership
of the asset.
Under a chattel mortgage, the client has the option of
having a residual. The residual results in reducing the
monthly payments. Clients can claim a full input tax credit
for any GST paid relating to the purchase under the cash
method of accounting in their most recent BAS statement.
Want to know more?
Call us on (03) 9888 9292 and we will be happy to discuss your options with you.