Chattel mortgage
Acquire assets with Varlo’s chattel finance solutions
Varlo’s secured chattel finance solutions are a smart way to acquire assets for your business. We know you’re busy growing your business, which is why we’re here to help with your plans to expand and improve. We take the time to understand your business and your expansion plans, tailoring solutions to suit your needs with our range of commercial loans.
Whether you need to get that next car on the road or the next piece of machinery into action, talk to us. Let’s get you moving with a chattel mortgage!
Try our loan calculator below to estimate your repayments and enquire now with Varlo on 08 6383 5485.
How much can I borrow?
Chattel Mortgage Calculator
*All rates and repayments are indicative, and applications are subject to assessment. Fees and charges are applicable.
How does a chattel mortgage work with Varlo?
With a chattel mortgage, you can secure finance to obtain assets that are primarily for business use, like a new car or upgraded equipment. It works like this:
- One of our trusted lenders will advance funds so you can take ownership of the asset at once.
- The lender takes a mortgage over the asset as a security until the loan is repaid.
- Your business makes regular repayments over a flexible loan term of 1-7 years.
- Once fully paid off, including the balloon payment, you own the asset outright.
Why choose a chattel mortgage?
- Save on Tax: You can claim the GST on the purchase price if your business is GST-registered, potentially reducing your overall tax burden. Speak to your accountant or tax advisor for guidance.
- Flexible Loan Terms: Varlo’s chattel mortgages offer terms ranging from 1 to 7 years, allowing you to choose a repayment schedule that best fits your business cash flow.
- Fixed or Variable Interest Rates: You can select either fixed or variable interest rates, providing flexibility based on your financial strategy.
- Ownership Benefits: You take ownership of the asset immediately, allowing you to use it right away while making regular repayments until the loan is fully paid off.
Get a new vehicle or equipment fast with chattel mortgage
We're passionate about helping businesses just like yours secure a new vehicle or equipment upgrade. Choose Varlo for tailored chattel mortgage loan solutions and fast loan approvals. Want to find out if you qualify? Contact our friendly team of brokers in Perth today on 08 6383 5485 or fill out the form below and we’ll get back to you shortly.
For finance that fits better, get in touch today.
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Chattel mortgage FAQs
A chattel mortgage is a term used to describe secured finance provided to a business to obtain an asset.
The financier will advance funds to you and your business to obtain the asset, so that you can take possession of that asset right away. The financier will then place a security on that asset whilst it is being paid off. Once the finance is paid off, the security is removed giving you full and clear ownership of the asset.
A chattel mortgage would suit any business owners looking to purchase an asset, such as a vehicle or equipment, for predominantly business use. Business owners and operators can benefit from a chattel mortgage as it allows immediate ownership of cars and equipment, linking repayments to the income generated by these assets.
The benefits of a chattel mortgage include:
- Flexible terms – usually between 1 and 7 years
- Choice of interest options – fixed or variable
- Options to add a balloon payment to the end of term to lower your repayments
- A tax deduction may be available if the asset is being used for business purposes (check with your accountant for eligibility)
- If you are registered for GST, you can claim the GST on the vehicle price on your next Business Activity Statement.
A balloon payment is a residual payment added to the end of your loan term, which brings your loan repayments down. This may help with cash-flow during the course of your loan.