Equipment Finance , chattel mortgage , Car Finance , Car Lease , Inventory Finance , equipment lease

 Chattel Mortgage

A chattel mortgage is an attractive finance option for sole proprietors, partnerships and companies that use the ‘cash’ method of accounting for the Goods and Services Tax (GST). A chattel mortgage is essentially a mortgage over goods to be financed – providing you with immediate ownership of the equipment.

Leasecorp provides flexible chattel mortgage options – you may either finance the full purchase price, include an initial deposit to reduce your repayment commitment or include a residual at the end of the finance term.

The chattel mortgage allows the GST component of the acquisition price of the motor vehicle (or other asset) to be claimed back on the entity’s next Business Activity Statement, rather than claiming the GST over the term of the finance contract.

Key Benefits:

• No capital outlay required and flexible terms
• Interest charged and depreciation of the equipment are tax deductible
• Immediate ownership of equipment