Similar to that of a Home Mortgage, a Chattel Mortgage allows you to buy an asset, which the finance company finances on your behalf. The financier has a mortgage over the asset until you have paid it off. At the end of the term, the asset is yours and there is nothing more to pay.
Traditional form of equipment loan.
Equipment is owned by the client from the outset.
Payments are a Capital expense which include a degree of expendable interest cost.
Is reported on your balance sheet as a debt or loan.
GST is claimed upfront on the entire purchase price.
Finance the equipment cost only.
Ability to set a residual if required to lower the payments, however not required.
*This information is not intended to constitute taxation advice and does not take into account your financial cirucmstances. Refer to your accountant for taxation advice.
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I found Samantha to be highly competent and efficient, she was very resourceful, professional and I would highly recommend her services.
Philippe Mouchel, Deja Vue Melbourne
Carissa has demonstrated an exemplary degree of professionalism, accompanied with superb customer service and proven results. I am extremely impressed with the outcomes reached and highly recommend Carissa and Geared Finance to any business requiring finance and great service. It has been an absolute pleasure dealing with you. Thank you!
Jan Flores, Managing Director LVSA Group
We found your organisation to be professional and personal, it has been a pleasure to deal with you. You have helped us realise our dream in this venture and if you are ever in Hobart please come and visit and make yourself known to us as we would like to return the service back to you.
Ana Zardo-Cox, Cafe Lola Hobart