Chattel Mortgage/Plant Equipment
Are you looking for Chattel Mortgage/Plant Equipment?
A chattel mortgage provides a financial solution that is typically used to purchase goods such as motor vehicles, trucks, industrial plant and other professional equipment.
The financier will take a ‘mortgage’ or ‘charge’ over the financed goods, which is released after the final payment is made.
What are the key features of chattel mortgage/plant equipment?
- You hold the title of the goods
- 100% finance can be provided
- Repayment schedules are flexible and can be structured to suit your needs
- Balloon payments at the end of the term can be arranged
- A chattel mortgage may provide benefits if the financed goods produced taxable income
- The term of the chattel mortgage is flexible (maximum term 60 months)
What are the major benefits of chattel mortgage/plant equipment?
- You own the goods from the beginning of the contract
- You can obtain the goods for a minimal capital outlay
- You can match repayments to cash flow
- You can pay lower instalments during the term of the contract with a balloon payment at the end
Repayments may either be in advance or in arrears