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.
Looking for more information?
We've made it easy for you to find everything you need here.
EXCEPTIONAL, as good as Customer Service gets
I’ll keep this simple, if you want the BEST advice, the BEST service and the BEST product for your c...
Can't Recommend Highly Enough!!
Have purchased two vehicles through Stratton Finance and each time the service has been fantastic. S...
Stratton Finance A++
I've purchased 3 vehicles using Stratton and every time it has been hassle free. Not hidden nasties ...
Meet our network partners
As part of the carsales network, we have an exclusive panel of specialist lenders and industry partners that will protect and treat you right every step of the way.
Ready to get started?
Get an instant quote or apply now online.
