Using a chattel mortgage to buy a boat

If you intend to use your boat for business more than 50% of the time, then the chattel mortgage is a great option to get you in the water. The great thing about this financial product is that just like you own a house from the moment of purchase, with a chattel mortgage the boat is all yours from the start. 

How it works

Buying a boat with a chattel mortgage is a relatively simple process. Your lender advances the necessary funds, you buy the boat, and they take out a mortgage over the boat as security for the loan. Once you make your final payment, your lender then removes the mortgage and the title of the boat belongs to you.

  • You can choose a term of anything from twelve to sixty months (one to five years)
  • When you use your boat for business purposes you may qualify for a tax deduction*
  • If you’re registered for GST, you may be able to claim the GST in the boat price as an input credit on your next Business Activity Statement (BAS)*
  • Monthly repayments along with your balloon payment are fixed and GST free.
  • Lower interest rates because the loan is secured against the boat

* Please refer to your accountant for eligibility.

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Some of the Benefits of a chattel mortgage via Stratton Finance

Anytime, Anywhere, Anyhow

We're a "real" online business. Get an online quote, electronically sign documents and receive / send funds electronically; there's no need to leave that couch!

Financial Flexibility

Our lenders have a wide range of options that give you flexibility including early termination fees, variable loan terms and the ability to add a residual.

Lifetime Support

Don't get left alone to figure out how much you owe, changing your details, or assessing your changeover options; we're here for you over the life of your loan.

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