A chattel mortgage, also referred to as a bill of sale or equipment loan, is a financing agreement used to purchase commercial equipment or vehicles. The lender secures the loan by taking a charge over the financed asset, meaning they can repossess it if the borrower fails to make payments.
A chattel mortgage offers a flexible financing solution for businesses seeking to acquire essential equipment or vehicles.
The borrower retains ownership of the equipment.
The loan can be fully financed, or the borrower can contribute equity (e.g., a deposit or trade-in).
A lump sum payment at the end of the loan term can be included.
Interest payments and depreciation on the vehicle are typically tax-deductible.
Registered GST businesses can often claim a refund on the GST paid for the purchase.
Homeownership simplified – Your future, funded.
Ratewise Finance Pty Ltd ABN: 61 679 228 445 trading as Ratewise Finance (Credit Representative no. 561537) is a credit representative of Rymark Industries Pty Ltd ACN: 005 819 607 (Australian Credit Licence Number 495267).
The information provided on this website is for general informational purposes only and does not constitute financial advice. Individual circumstances may vary, and it is recommended that you seek personalised advice from a qualified financial advisor before making any financial decisions. Subject to lenders’ terms and conditions, fees, and eligibility criteria may apply.