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Secure Lower Rates, Cost-effective Truck Chattel Mortgage

A secured, versatile credit facility, Chattel Mortgage or Heavy Vehicle Loan, is one of the most widely used form of funding for all types of commercial vehicles. The popularity means a vast and competitive lending market. Using our expert broker services, operators can efficiently and easily cut through to secure the lowest rates and most workable terms and conditions. We have extensive heavy vehicle market coverage and more significantly, the leverage with key lenders to source and negotiate the most cost-effective heavy vehicle funding.

Business Finance Secure Lower Rates, Cost-effective Truck Chattel Mortgage
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Compare Business Finance Truck Chattel Mortgage Rates

Interest rates vary with the specifics of each application and with the selection of credit facilities. Using our rate calculator, operators can easily compare the variations across the credit options and compare repayments on specific vehicles. Our current rates can be used as a guide and a specific quote can be quickly obtained with a call to one of our brokers or by submitting an online request.

Loan Amount Loan Term
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Disclaimer: * The comparison rate displayed is calculated for a loan of $30,000 over 5 years. The results from this calculator should be used as an indication only. Quoted repayments are based on advertised rates and do not include lender fees and charges. Results do not represent either quotes or pre-qualifications for a loan. The specific details of your loan will be provided to you in your loan contract. It is advised that you speak with us so that we can provide you with advice that is tailored to your situation.

30 September

Today's best rate

Finance Equipment From

4.99 % Fixed

* The interest rate is calculated on a secured loan for commercial use, effective 30/09/2023 and subject to change. Warning: the interest rate is only true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different interest rate.

30 September

Today's best rate

Finance Equipment From

4.99 % Fixed

* The interest rate is calculated on a secured loan for commercial use, effective 30/09/2023 and subject to change. Warning: the interest rate is only true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different interest rate.


How to Get Fast Truck Chattel Mortgage Estimates & Approvals

To prepare to purchase a vehicle with this credit facility, simply use our online calculator to obtain repayment estimates and plan preferences for funding – terms, balloon, total amount. For confirmed quotes contact us and one of our brokers will source a quote specific to your requirements.

We provide a fast approval process to enable operators to move quickly to secure their vehicles and get them working in their operation.

  • 25 hour Truck Chattel Mortgage approvals.
  • Apply by phone or online for Chattel Mortgage Truck Financing.
  • Lower rates on Chattel Mortgage Truck Loans form 80+ lenders.

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What is Truck Chattel Mortgage?

The name of this credit product can be confusing. But the format and features are extremely straightforward and easy to understand. The chattel is the vehicle and the mortgage is the funding itself. This is a secured format credit product where the vehicle is accepted as the security against the credit. For many operators, additional collateral is not requested. A key feature of this type of credit is its compatibility with the cash method of accounting. A method used by many enterprises in Australia.

When the credit is settled, the operator takes ownership of the vehicle and as such, the asset is entered into their books/balance sheet. We secure this type of funding with a fixed interest rate over a fixed credit term to provide a fixed monthly repayment schedule. A balloon is an optional inclusion.

The secured nature of this facility makes it suitable to a wide range of enterprise set-ups and all types of commercial vehicles – heavy duty, medium duty and light duty. Both new and used vehicles may be funded with this credit facility.

  • Secured truck financing products.
  • Truck Chattel Mortgage suits cash method of accounting.
  • Lower fixed rates, fixed terms, fixed repayments.
  • Optional balloon component.
  • Suits many business set-ups.
  • Suitable for heavy, medium and light duty trucks.


Get Truck Chattel Mortgage Tax Benefits

The major tax benefit or deduction with this type of credit facility is realised when the vehicle is depreciated each year when the annual accounts and income tax return is prepared. The amount of the depreciation is determined by the relevant ATO schedule at the time. When accelerated asset depreciation measures are in place, they can be used.

  • GST on the truck can be claimed in full on the next corresponding BAS after purchase.
  • GST is not applied to repayments or to the balloon.
  • Deductible interest payments.
  • Monthly repayments (ex interest) not deductible.
  • Depreciation of the truck delivers a tax deduction.


Truck Chattel Mortgage Solution Compared with Truck Leasing

Leasing is significantly different from this type of credit. Lease is compatible with the accruals accounting method not the cash method. Leasing is described as an ‘off balance sheet’ facility as the lender retains ownership so the vehicle is not entered into the buyer’s accounts.

This feature leads to differences in tax deductions. As the vehicle is not on the balance sheet, it cannot be depreciated. The tax deduction is realised with fully tax deductible lease payments. GST is also treated differently. GST applies to the monthly lease payments and claimed accordingly.

Interest rates on leasing are typically slightly above the lower rated secured credit facility. While there are differences, both facilities offer extremely affordable and workable funding options especially with our lower across the board interest rates.

  • Lease higher rates than Truck Chattel Mortgage
  • Competitive rates, versatile options.
  • Differences in accounting method, tax and balance sheet approach.
Truck Chattel Mortgage for a Variety of Enterprises and Truck Models


Truck Chattel Mortgage Suits Many Enterprise & Truck Types

The versatility of this credit facility makes it a very popular choice with a large number of enterprises to fund a wide range of heavy vehicles. An ABN is required, but GST registration is not essential. For operators that do not meet the lender criteria of some banks and lenders, we provide specialist options through our selected non-bank lenders.

  • Competitive Sole Trader, Self-employed ABN Truck Chattel Mortgage
  • SME and Large Company Truck Chattel Mortgage.
  • Low Doc and No Doc Truck Chattel Mortgage options.
  • Single truck and entire fleet Chattel Mortgage agreements.
  • New and used trucks – heavy, medium, light duty.
  • Individually sourced, negotiated and structured Truck Chattel Mortgage.

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FAQs
Truck Chattel Mortgage

Yes. The lender accepts the vehicle as security against the funds being borrowed.

The interest portion of repayments is deductible only. A deduction is realised in the annual accounts through depreciating the vehicle.

No. GST registration is not a pre-requisite for approval for commercial credit.

No. The full amount of GST applicable to the purchase price is claimed in full on the next corresponding BAS after settlement. No further GST is applicable.

Yes. All types of commercial vehicles – heavy, medium and light duty, may be financed with this secured credit facility.

Yes. Vehicles powered by all fuel systems including electric power can be financed with this credit facility.

Leasing repayments can be compared with a Mortgage option by using an online credit calculator. The results are estimates only and to be used as a guide.

A balloon is an optional inclusion. It is a percentage of the total amount borrowed, not including interest, which is due for full payment at the end of the credit term.

Results obtained using a credit calculator are estimates only as they do not include charges and fees or take account of differences in credit profiles of users.

Yes. New and used vehicles can financed with a secured credit facility.

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Our Lenders

Trusted by 60+ lenders Australia-wide

Westpac
Liberty
Automotive Financial Services
Macquarie
Finance One
Commonwealth Bank
Pepper Money
Morris
National Australia Bank
RACV
Get Capital
Prospa
Grow
Selfco Leasing
Scottish Pacific