Chattel Mortgage is an extremely versatile and flexible business finance option which Jade Caravan Finance provides when commercial terms are required. We lend for the purchase of caravans, camper trailers, motorhomes and other types of RVs.
This lending product type suits many businesses that use a cash accounting method and your Jade consultant can specifically structure your Chattel Mortgage to suit your individual business.
The financier lending the funds takes a ‘mortgage’ over the caravan or caravans, referred to as the ‘chattel’ for the term of the loan until all payments are finalised. The mortgage over the asset is registered at the Personal Property Security Register.
While the lender financing the caravan holds a mortgage, the borrower has full use and ownership of the vehicles once the loan is agreed and the sale finalised and is responsible for all maintenance, service and other costs.
Features of a Caravan Chattel Mortgage
- Appropriate for small, medium and large businesses that implement a cash accounting approach.
- Each Caravan Chattel Mortgage is structured on the basis of our Jade signature cheapest interest rates.
- Fixed interest rate for the term of the finance agreement.
- Fixed monthly repayments which can be set to suit your projected cash flow.
- Loan term is fixed when financing is agreed. Your Jade consultant will work with you and negotiate the best term for the loan, from 24 months to 84 months.
- Balloon amount may be included. This is payable when the last monthly repayment on the loan is made.
- GST on the total purchase price of the motorhome/caravan/camper trailer can be claimed on the next BAS which you submit.
- GST does not apply to the monthly repayments or interest. GST is charged on any fees and charges and can be claimed at time of paying that element of the loan.
- Depreciation of the caravan is treated according to ATO guidelines.
- When you have paid all the monthly repayments and any balloon if included, the lender financing your loan will release the mortgage claim on your caravan.
With access to over 40 lenders, including the major Australian banks, Jade Caravan Finance is ideally placed to source you the best deal for your lending requirements. If you have specific reasons for wanting your own bank to loan you the funds for your caravan purchase, your Jade consultant can negotiate the finance for you. With our expert negotiating skills and strong bargaining power, we are extremely successful in achieving better loans for caravans, RV and leisure goods purchasers.
Speak with a Jade Caravan Finance Consultant to discuss a financing solution for your caravan, motorhome, camper or RV. Call 1300 000 003