A chattel mortgage is a business loan product used for purchasing a commercial vehicle. It works in the similar way a consumer car loan does with the loan being repaid in regular instalments.
For a vehicle to be eligible for a chattel mortgage its primary use must be for at least 51% business use.
It may be worthwhile speaking to your Accountant in order to see whether a chattel mortgage is suitable. Alternatively we can arrange an introduction to one of our expert partners who can assist with advising you on a chattel mortgage.
You may also find it useful to compare the different vehicle finance options by accessing our loan calculators.
Chattel mortgages could work for your business as you can claim certain tax benefits during the life of the loan.
To see if a chattel mortgage will meet your business needs book a free appointment with one of our Brokers!