Chattel Mortgages
What is a Chattel Mortgage?
A Chattel mortgage is a commercial finance arrangement for purchasing vehicles, plant and equipment.
Under a Chattel mortgage, the financier releases funding to the customer to purchase the vehicle, meaning the customer takes ownership of the vehicle. The financier then takes out a mortgage over the vehicle as security for the loan they have made to you.
Once the repayments and balloon payment (if any) is met then clear title is given and security over the vehicle is removed. If you are registered for GST then you may be entitled to tax deductions and GST credits.
How it works
Here’s the 3 step process to save time and money with a chattel mortgage from Leasexpress.
01.
Choose your car
We can arrange a new car at National fleet discount pricing and pass the savings onto you.
02.
Let us do the work
We arrange your finance, do the paperwork and coordinate delivery of your new car.
03.
Save & relax
Take advantage of our national buying power. The overall out of pocket cost of the vehicle will be lower with our national fleet discounts.
Finance Benefits
- Single monthly fixed payment
- Choice of residual value (balloon payment) or not at the end of the term
- Terms range from 1 to 5 years for vehicles
- Terms 1 to 5 years for plant & equipment
- Choice of deposit
- Fixed interest rate
- Costs are known in advance
- Tax deductions can be claimed for depreciation of the vehicle
- Customers registered for GST can claim the GST in the vehicle’s purchase price
The Leasexpress Difference
Leasexpress can source a new vehicle for you while taking advantage of our National fleet discounts, available through our Fleet buying power. Finance only options are available if preferred. GST registered customers may be entitled to tax deductions and GST credits
Our fully maintained option includes fuel, servicing, insurance, roadside assistance, registration, and there’s no need to hold onto your receipts for tax time.
Our panel of financiers are here to determine and implement the right solution for your situation. Our team at Leasexpress will do all the work while keeping you involved in all decision making.