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Types of Asset Finance
Chattel Mortgage
A Chattel Mortgage (also known as Bill of Sale, asset purchase or national commercial loan) is a loan agreement where you borrow funds to purchase equipment. You need to provide security for the loan by way of a mortgage to the lender over the equipment you are financing.
Benefits:
- Deposits are optional and generally not required
- Optional balloon payment available at the end of the term to reduce your repayments
- You can repay the loan any time during the term of the agreement
- You don’t pay GST on the loan or the repayments
- Title of the equipment or vehicle financed remains with you
Make an appointment to see an Iden Money Loan Consultant.
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