A chattel mortgage is car loan solution for business. Rather than outlaying the full value of the car upfront, your business makes structured payments over the term of the loan.

You take ownership of the vehicle at the time of purchase – but the lender also takes out a ‘mortgage’ over the vehicle as security for the loan.

At the end of the loan term, and any residual value is paid, your business has clear title to the car. Alternatively, you may trade in the vehicle or refinance the residual value.

At MoneyQuest, we have access to many specialist chattel mortgage lenders. We can negotiate on your behalf and help you answer these important questions:

• Does the car need to be used exclusively for business?
• What contract terms will be best suited to you?
• Should you apply a residual value (balloon) to the contract?
• Does your business qualify for a ‘no deposit loan?
• What GST charges apply?
• How much can your business afford to borrow?