The most common business loan product, a Chattel Mortgage offers an instant way to reduce your GST obligations whilst maximising the amount you can claim on the car. What business couldn’t use a few extra dollars in their activity statement?
Chattel Mortgages sound complicated, however FaradayWest Finance can explain it all in a simple and easy to understand way.
Chattel Mortgage advantages include:
- Low establishment fees and monthly fees, no payout penalties
- Chattel Mortgage terms range from 1 to 5 years
- A tax deduction is available if used for business use
- Chattel Mortgage repayments are fixed for the term
- The Interest Rate is fixed for the term of the Chattel Mortgage agreement
- No GST is charged on the monthly Chattel Mortgage payment
- GST tax benefits to business registered to claim GST
Low doc loans can be achieved in most cases.
With access to Australia’s large panel of lenders that provide chattels, we can offer the best possible solution for your needs.