Chattel Mortgage
With FinCar motor finance, we’ll get you motoring! With hassle free car finance, we can help with your vehicle.
Chattel Mortgage
With FinCar motor finance, we’ll get you motoring! With hassle free car finance, we can help with your vehicle.
About Chattel Mortgage
A Chattel Mortgage is a particular type of finance used by businesses for the purpose of purchasing a new or used vehicle or other business equipment.
Chattel Mortgage is essentially a Mortgage over goods to be financed. Chattel Mortgage is classed as a cash sale in that the goods automatically become yours on purchase and the finance company takes a mortgage over the chattels. However for tax purposes you can claim depreciation, running costs and interest paid, against your business income. The Chattel Mortgage allows businesses to claim the full input tax credit from GST incurred expenses immediately (next BAS statement).
Always seek advice from your accountant in regard to this.
The Chattel Mortgage is a very flexible finance option, in that, you have the ability to either finance the full purchase price or alternatively, you can include an upfront deposit or trade-in to reduce your rental commitment, while a Residual payment may also be placed at the end of the term (much like a lease residual) to represent the vehicles end value. Alternatively, you may choose to structure your rentals to clear the debt in full over the term of your agreement (fully amortised). You should make use of a chattel mortgage calculator to decide what method is best for you.
Applying for a Chattel Mortgage
Applying for a chattel mortgage agreement with Fincar is easy. We do all the hard work for you – can assist with selection of the right product for your requirements, prepare the all paperwork and submit it to the appropriate lender. As a broker we are not limited to any particular finance company – we can shop around for the lowest interest rate, help you avoid ‘hidden’ fees and charges and most of all prepare the paperwork with the minimum of fuss and maximum of professionalism. Ask us about our chattel mortgage calculator when you are speaking with a consultant.
Benefits of a Chattel Mortgage
Interest charged and depreciation of the vehicle are tax deductible
No capital outlay is required and cashflow protected
Terms can be flexible and pre-calculated fixed repayments make for easy future budgeting
After full payment of the chattel mortgage agreement, ownership of the goods is transferred to you.
You have the option to make payments with or without a balloon payment at the end of the term.
Testimonials
Here’s what just some of our clients have said
Darrell Cross
Gemma and Heathe
Am extremely appreciative to both you girls for all your hard work, never say die attitude and professional manner in which my purchase of 09 Holden SS Ute was carried out.
Wayne Willis-Davis
Customer
I would like to extend my thanks to both Gemma and Heather for all their effort in helping us with our new car purchase, finance and all round effort and excellent service turnaround.
Nicole & Mark Bateman
Customer
Thank you to all the team at Fincar for all the support and professional help with novated lease on our new car. The process was very fast and the staff were exceptional always on hand to help.
Tony
Customer
Thank you. I found FINCAR service to be prompt and accurate, I appreciated the velocity at which this loan was dealt with. I will be in touch should I need you again in the future
Darrell Cross
Gemma and Heathe
Am extremely appreciative to both you girls for all your hard work, never say die attitude and professional manner in which my purchase of 09 Holden SS Ute was carried out.
Wayne Willis-Davis
Customer
I would like to extend my thanks to both Gemma and Heather for all their effort in helping us with our new car purchase, finance and all round effort and excellent service turnaround.
Nicole & Mark Bateman
Customer
Thank you to all the team at Fincar for all the support and professional help with novated lease on our new car. The process was very fast and the staff were exceptional always on hand to help.
Tony
Customer
Thank you. I found FINCAR service to be prompt and accurate, I appreciated the velocity at which this loan was dealt with. I will be in touch should I need you again in the future
Frequently Asked Questions
Who is Fincar?
Fincar has been offering novated car leases to Australians since 2008 and rather than just punch out the numbers like the big guys, we explain how it works, what the benefits are, the advantages and disadvantages and whether it’s worth it in your particular situation. So whether you’re just trying to find out what is a novated lease, or you’d have a specific question about ATO prescribed residual values, one of our friendly consultants can answer that straight away. And, if it looks like it’s going to work, we’ll get you the best novated lease interest rates from Australia’s top lenders.
How does a novated lease work?
Watch our video to see how a novated lease works and how it saves money for Australian employees!
What’s the interest rate for a novated lease?
Novated lease interest rates vary depending on the applicant and whether the car is a new or used car. Fincar has a relationship with car finance companies across Australia so we can tender to our panel of lenders to get you the very best deal
Where is Fincar based and how can I contact you?
We are a privately owned company with offices in Sydney NSW. You’re welcome to call us at any time on 1300 346 227 or better still visit us in person at Level 13, 465 Victoria Avenue Chatswood