Motor Vehicle Loans

    Chattel Mortgage is the most common type of vehicle loan for business use

    It is a commercial finance product where the customer takes ownership of the asset (chattel) at the time of purchase.

    Under a Chattel Mortgage, the financier advances funds to the customer to purchase an asset, and the customer takes ownership of the asset at the time of purchase.

    With Chattel Mortgage the customer can claim the interest charges on the contract and depreciation (in the case of vehicles up to the depreciation limit*) as a tax deduction.

    Chattel Mortgage

    This is the most common type of Vehicle loan for business use!

    A Chattel Mortgage is a commercial finance product where the customer takes ownership of the asset (chattel) at the time of purchase.

    Under a Chattel Mortgage the financier advances funds to the customer to purchase an asset, and the customer takes ownership of the asset (chattel) at the time of purchase.

    With Chattel Mortgage the customer can claim the interest charges on the contract and depreciation (in the case of vehicles up to the depreciation limit*) as a tax deduction.

    The Benefits of a Chattel Mortgage

    Flexible Finance

    You can finance 100% of the vehicle purchase price, or place a deposit.

    Protected From Fluctuations

    The interest rate is fixed, therefore you are protected from interest rate fluctuations during the term of the loan.

    Repay Anytime

    You can repay the loan at any time during the term of the agreement (subject to break costs).

    No GST

    You don’t pay GST on the loan repayments or any balloon payment.

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    Potentially Tax Deductible

    If you use your car to generate assessable income, the interest component of the repayments and the depreciation on the car may be tax deductible.

    Bridgecoast Finance has other Vehicle Loan options

    Consumer Loan

    This is the most common loan used for individual finance

     

    Novated Lease

    This type of finance is an arrangement between you, your employer and the financier.

    Commercial Hire Purchase

    This option gives you flexible repayments and you will own the vehicle at the end of the loan term

    Finance Lease

    This type of finance gives you the option to rent a vehicle for an agreed period of time and at the end of the loan term you have the option to upgrade.

    Chattel Mortgage

    The most common type of vehicle or equipment plan.

    Fully Maintained Operating Lease

    A fixed fee to cover your vehicle management, such as maintenance, registration, renewal, tyres etc. At the end of the term, you simply return the vehicles to the financier.

    Accredited Lenders

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    Accredited Lenders

    ANZ logo
    Commonwealth Bank Logo
    BOQ Logo
    Capital Finance Logo
    Macquarie Bank Logo
    Metro Finance Logo
    NAB Logo
    Pepper Money Logo
    St George Bank Logo
    Westlawn Logo
    Westpac Logo