Chattel mortgage and equipment
repayments.
A chattel mortgage is the most common loan for a business ute, truck or machine. See what repayments could look like. Example only, not a quote.
Enter a price and the rate you’ve been quoted to see an example.
Monthly repayment
$0
About $0 a week
- Amount financed
- Balloon at the end
- Total you repay
- Interest and fees
Lenders usually limit balloons. Ask me what’s possible.
Example only, not a quote. It assumes a fixed rate for the whole term and may not include all fees and charges. Your actual repayment depends on the lender’s assessment. Credit criteria, fees and charges apply. GST and tax: speak to your accountant.
Three things that change the numbers.
A balloon lowers your monthly repayments, but you’ll need to pay it, refinance it or sell the asset at the end. More on balloons
Some lenders take repayments at the start of each month. That makes each repayment slightly smaller. Lenders usually set this.
Lenders often charge a setup fee and a monthly fee. Add them under “lender fees” to see a fuller picture.
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Questions I get asked.
Can’t see yours? Give me a call. I’m happy to talk it through, with no obligation.
What is a chattel mortgage?
A common way for businesses to finance a vehicle or equipment. You own the asset from the start, and the lender holds it as security until the loan is paid. Read my chattel mortgage guide.
Why isn’t there a rate filled in?
Because your rate depends on you, your business, the asset and the lender. Any number I put in would only be a guess. Use a rate you’ve been quoted, or ask me for a real one.
Is the result a quote?
No. It’s an example only. It assumes a fixed rate for the whole term and may not include all fees and charges. Your actual repayment depends on the lender’s assessment.
Should I choose start or end of month?
Lenders usually set this. Paying at the start of each month (in advance) makes each repayment a little smaller. If you’re not sure, leave it on end of month.
What about GST and tax?
If your business is registered for GST you may be able to claim the GST on the purchase, and some costs may be tax deductible. It depends on your business, so speak to your accountant.
Guides for business buyers.
How the most common business vehicle and equipment loan works: who owns the asset, how balloons work, and how it compares with leasing and hire purchase.
Read the guideWhat a balloon payment is, how it lowers your repayments, what it costs you overall, and your three options when it falls due at the end of the loan.
Read the guideA plain checklist of the documents lenders usually ask for on car, personal, vehicle and equipment loans, for employees, sole traders and companies.
Read the guide