Medical Equipment Chattel Mortgage
What is a chattel mortgage?
It’s a finance loan where you take ownership of the medical or dental equipment at the time of purchase. It’s sometimes called an equipment loan, national commercial loan or commercial loan.
How do they work?
It’s ideal for acquiring equipment large assets that have a service life of several years or more.
Who do chattel mortgages best suit?
Both small and large practices.
What are the benefits of chattel mortgages?
- Lower interest rates – as the equipment is secured by mortgage
- Deposit option – if it suits, you can get underway with a big payment at the start of your contract
- Balloon payment on residual – you can make a large final payment at the end
- Short or long term contracts – from 1 to 5 years
- Easy budgeting – your repayments and interest rates are fixed so you always know what you’re up for
- Tax advantages – deductions for depreciation of the asset and interest paid
- Claim 100% of GST – as a credit on your BAS statement
Like to discuss a chattel mortgage for your medical equipment?
Contact us in Sydney on 1300 288 874 or apply online today
Or learn more about the different medical and dental finance packages you can choose from: