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Learn About Chattel Mortgage

A chattel mortgage is when an individual takes out a car loan from a lender. The ownership of the vehicle remains with the borrower. The lender, on the other hand, takes out a mortgage over the vehicle as security for the loan. This is an ideal set up for those who will be using the vehicle for business purposes. To learn more about chattel mortgage, check out this presentation.

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Learn About Chattel Mortgage

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  1. What is a Chattel Mortgage?

  2. A chattel mortgage is pretty much the same as a regular car loan except it's for commercial purposes. It’s for someone who's using their car for work, whether it be a sole trader, through a company or just someone like a real estate agent or a carpenter who uses their vehicle as part of their daily duties at work. The chattel mortgage is probably going to benefit them by allowing them to claim things like interest and depreciation when they do their tax return. Sometimes lenders even make their products a little bit more flexible than others.

  3. IN THIS VIDEO: Senior Asset Finance Broker Francis Valente talks about chattel mortgage and what makes it different.

  4. Want to find out if you qualify for a chattel mortgage? Visit our website today to use our Get Instant Quote online tool, and our expert consultant will review your unique situation. He will then find you the best loan from our panel of over 30 lenders.

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