Car Loan
All You Need to Know about a Chattel Mortgage
For Australian businesses, a Chattel Mortgage can make the difference between having a revenue-producing vehicle or not. A chattel mortgage is simply a mortgage taken out against a “movable” item of property, i.e. a car, van, or another vehicle. However, this vehicle must be used for business purposes at least 50% of the time. The term “chattel” refers to property. In this case, the property is the vehicle you plan to buy. Lenders must register their financial interest in the vehicle on the Personal Property Securities Register (PPSR) until you pay off the loan. Learn How a Chattel Mortgage Works Even though you take…
Which is Better for Asset Finance or Car Loan?
You’re looking for a new car, but you can’t decide where to go for your loan. Should you opt for the dealer’s standard finance, or should you apply to a finance broker? Here’s how the options stack up. Finance Broker A finance broker arranges loans between you and your lender. They don’t work for the lender. The broker works for you. They are typically paid a fee for their services by you, or they receive a commission from the lender for introducing them to you. Dealer Finance Dealer finance is a loan between a retailer, such as a car dealership, and…
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