Chattel mortgages
Chattel Mortgage is a mortgage over goods to be financed. It is classed as a cash sale in that the goods automatically become yours on purchase and the finance company (Liberty Financial) takes a mortgage over the chattels (vehicle).
The Chattel Mortgage product can allow businesses that are registered for GST to claim an input tax credit from GST on the purchase price of the goods being financed. However, we urge that you seek independent financial advice about which product is most suitable in your situation.
For more information on Liberty's chattel mortgages, please fill out our business loans short form.
