CHATTEL MORTGAGE
A Chattel Mortgage loan is where you own the chattel from the start which are then mortgaged or gripped by a bill of sale to the financier to support the loan.
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For further details please complete the Enquiry Form on this page or Contact Us at Broadlink. |
A chattel can be any tangible equipment that is used for business purposes. As such the equipment becomes the security for the financier during the course of the loan and once finalised the mortgage or bill of sale over the equipment is released. As the equipment is used for business purposes then depreciation & interest charges that relate to the business use are tax deductible however your accountant will be able to advise you in this regard.
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Leasing
A Finance Lease can be an effective way for a company to acquire goods.
The financier purchases the asset on your behalf with the financing costs calculated on the purchase price of the goods. The goods are then leased from the financier at an agreed rental for the period of the lease.
The lease rentals are generally paid either monthly, quarterly, semi-annually or annually. If you a have a business that has seasonal income, you can elect to make your repayments on a seasonal or irregular basis.
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The rentals are generally a tax deduction based on business use. A residual value is required for a finance lease, however, this can be negotiated within an approved range at the commencement of the lease.
For further details please complete the Enquiry Form below or Contact Us at Broadlink. |
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