Carfund operate in an niche market where we arrange Car Finance for self employed clients who use their vehicle predominately for business purposes. We have many Car and Equipment Finance lenders on our panel who all offer unique products and policies which allow Carfund to arrange car or equipment finance for just about any business owner.
One product that we use every day for clients, allows our self employed customers who are property owners to finance a loan amount up to $100,000 without the need for any paperwork. If you would like a car or equipment loan for more than $100,000 we just need to supply tax returns to support the income declaration on the application.
When the finance amount is over $100,000 we just require tax returns which still makes the process very simple. We also arrange finance for any type of business equipment, not just motor vehicles.
Who is best suited to a Chattel Mortgage?
Both Individuals and Business’s (including companies, trusts, partnerships) are eligible for a Chattel Mortgage as long as the car is predominately used for business purposes (income producing).
In general a Chattel Mortgage is best suited to a business that is registered for GST as the business may be able to claim the full GST component of the purchase price in their next BAS.
Features and Benefits of a Chattel Mortgage?
There are many benefits of a Chattel Mortgage:
- Loans up to $100,000 with no tax returns needed – we do not verify the income stated in your application
- Loan above $100,000 require tax returns
- Purchase from a registered car dealer or via a private sale
- Second hand cars accepted
- Loan terms range from 24 – 60 months
- Wide variety of Balloon values (residual) generally from 0% – 50%
- Claim the GST component of the purchase price in your next BAS
Use our Corporate Car Buying Service and Save $$
Did you know that we have access to Discount New Cars through one of Australia’s biggest investment banks. They buy thousands of cars every year and therefore demand a large discount on the RRP of a brand new car.
All of our clients that are purchasing new cars are encouraged to use this free service as the discounts and other benefits we can achieve for you are simply not achievable when shopping for a new car by yourself – this is an exclusive service that we give you access to only when you finance your new car with us.
Other Benefits include:
- The new car is delivered to your door with a full tank of fuel
- Test drives can be arranged without visiting the dealership
- Trade ins can be arranged without visiting the dealership
- Other benefits are available but these depend on the brand of the car chosen