Chattel Mortgage

Chattel Mortgage from Discoverloans

By: Discoverloans  17-Feb-2015
Keywords: Chattle Mortgage

Chattel Mortgage is a commercial car loan where by the the borrower takes ownership of the vehicle or chattel at time of purchase. The lender in turn takes security or “mortgage” over the chattel for the duration of the loan. Once the contract is completed security interest is removed and clear title is given to the customer. Benfits of Chattel Mortgage Flexible loan terms from 1 to 7 years. Residual Values or balloon options available Deposit by way of cash or trade-in can be used GST paid on Car Purchase price can be claimed at time of purchase Interest rates are fixed for the term of the contract Fixed Monthly Repayments so costs are known in advance Tax deductions where applicable can be made on the interest charges

Keywords: Chattle Mortgage

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