What does this Chattel Mortgage Calculator do?

Use this Chattel Mortgage Calculator to calculate monthly, fortnightly or weekly repayments on Chattel Mortgage agreement for a car or other passenger vehicle.

You can structure your Chattel Mortgage repayment calculation with a loan term (length) in years or month, amount borrowed (financed), interest rate and residual value (balloon value).

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How we can help you with your chattel mortgage search?

We’ve been helping Australian’s for over 20 years find the right car finance solutions including chattel mortgages for their next purchase. Whether it’s explaining various products including loans and leases, or organising a mechanical inspection to give you peace of mind; over 70,000 customers have let us help them get into their new car quicker with car finance sourced via our national team and wide range of lending partners.


Common questions about our car finance calculator

If you’re using a vehicle for business purposes more than 50% of the time but you’re unable or don’t want a chattel mortgage or commercial hire purchase, a car lease may be right for you.

A car lease may also be a good option for employees who are able to include their vehicle as part of a salary sacrifice scheme via a novated lease.

A chattel mortgage involves a finance company lending you the money to purchase a vehicle that will be primarily used for business purposes. Set repayments are then made on a monthly basis.

You’ll own the vehicle outright, however, the finance company will place a “mortgage” over the vehicle, as security against the loan.

Once the loan and any Residual Value (the final balance on the vehicle) has been repaid, the finance company will remove the mortgage. Alternatively, you can choose to re-finance the Residual Value or trade the vehicle in.

Both businesses and individuals are eligible for a chattel mortgage, as long as the car is being used predominantly for business purposes.

A chattel mortgage is a good choice for those who are registered for GST on a cash accounting basis, as you should be able to claim the GST from the vehicle’s purchase price as an Input Tax Credit on your next Business Activity Statement.

Benefits of a chattel mortgage include flexible loan repayment periods, the option to reduce the monthly repayments by setting a final balance (residual value or balloon), the potential to claim tax deductions if the car is being used for business purposes* and the potential to claim Input Tax Credits if you are registered for GST*

A chattel mortgage can also have additional benefits (subject to lender selection) including a fixed interest rate and monthly repayments for the duration of the loan as well as repayments that can be aligned with your or your business' cash flow.

*Please check with your accountant for eligibility.

A comparison rate is an interest rate that lenders are required by law to display next to any advertised interest rate. A comparison rate calculates the loan interest rate and fees you may have to pay, including application fees and ongoing loan fees. This allows you to find out the true cost of the loan.

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