FAQ: What are a Chattel Mortgage's features & benefits?

A Chattel Mortgage for financing a car or other vehicles has a number of main benefits:

Choice of terms (loan lengths) ranging from 24 to 60 months (two to five years)
Wide variety of residual value (balloon value) options, generally ranging from 0% to 60% depending on the type and age of the vehicle
A deposit may optionally be used to reduce the size of the loan
Tax deductions may be available when the car is used for business purposes
Input Tax Credits may be available when the purchaser is registered for GST
A Chattel Mortgage is secured against the vehicle, which allows lower interest rates

A Chattel Mortgage through Stratton Finance has the following extra benefits (subject to lender selection):

No ongoing fees
No payout penalties or retained interest, giving you the flexibility to change cars whenever you want without it costing you extra money
Ability to make extra repayments without penalty
Fixed interest rate, so monthly repayments are fixed for the life of the loan
Repayments can be structured, matching payment to your or your business' cash flow
Online quotes and online approvals available

Please note that this information is of a general nature only. You should consult an accountant to obtain information specific to your situation.