• A Chattel Mortgage is an attractive finance option for sole proprietors, partnerships and companies; A Chattel Mortgage is commercial finance product where the costumer takes ownership of the vehicle (chattel) at the time of the purchase.

• Commercial Hire Purchase (CHP) is generally suitable for organisation using the 'accruals' method of accounting for the Goods and Services Tax (GST) or for individuals who use motor vehicle for business related purposes. A Commercial Hire Purchase (CHP) is commercial finance product where the customer hires the vehicle or equipment from the financier for fixed monthly repayment over a set period of time.

               How that works? 

               The customer has the use of the vehicle or equipment for the term of the contract but is not owner of the

               goods. At the end of the contract term when the total price of the vehicle has been paid in full the customer

               takes ownership of the vehicle. 

   

  • A Consumer Loan is typically used by individuals to purchase a car where there is no business use of vehicle and it does not form part of any salary packaging arrangement.

   

             How that works? 

             The customer has the use of the vehicle or equipment for the term of the contract but is not owner of the

             goods. At the end of the contract term when the total price of the vehicle has been paid in full the customer

             takes ownership of the vehicle. 

• A Consumer Loan is typically used by individuals to purchase a car where there is no business use of vehicle and it does not form part of any salary packaging arrangement.