Chattel Mortgage Calculator - Repayment Tool

Jade Finance provides this free calculator tool for all businesses to quickly and easily calculate estimated repayments for the acquisition of assets with a Chattel Mortgage.

As the most commonly utilised form of business finance, Chattel Mortgage suits many types of purchases including business vehicles, boats and marine vessels, equipment, trucks and caravans used for business purposes.

The calculator can be used to calculate estimates on all these purchases.

Use our online finance repayment calculator to get an estimate on repayments for your required loan.

Finance Calculator Disclaimer

NO-OBLIGATION. FREE TO USE. SELF-SERVE. USE 24/7.

Finance Amount

  • Enter the amount you need to be financed in this field.
  • The amount may be just the purchase price of the goods or the purchase plus additional expenses related to the acquisition. Delivery, dealer costs, installation and commissioning, extended warranties etc may be included in the total loan, as approved by the lender.
  • No deposit is required by the lender, so the total amount can be included in the Chattel Mortgage

Interest Rate

  • Our Jade interest rate for business purchases varies across the different categories: cars, boats, truck, caravans, and can vary over time and across our lender base.
  • To achieve an estimate today, use our current advertised rate as displayed on the web page for your purchase category.

Loan Term

  • Chattel Mortgage may have terms up to 7 years, depending on the lender, the amount to be financed and the actual assets.
  • Enter the term that best suits your business modelling.

Balloon

  • With a Chattel Mortgage you have the option to include a balloon amount which is payable at the end of the loan term when all repayments are finalised.
  • If you choose to include a balloon, enter the value as a percentage of the total amount to be financed.

With all fields including the essential data completed, you can now instantly calculate a monthly repayment estimate based on those values.

CLICK CALCULATE

A repayment amount will appear in the result field.

To change the repayment estimate, simply vary the values of the entered data: term, total loan and balloon.

Be mindful that the software is generic and does not include functionality to cater for variables such as your unique application details, lender guidelines, the specifics of what you are purchasing and the prowess of your Jade consultant to negotiate a better interest rate and overall better Chattel Mortgage for you.

If the estimate is workable or you would like to discuss an even better deal, contact a Jade Finance consultant.

Click REQUEST A QUOTE for a quick quote or phone a Jade Finance consultant for a firm quote and to discuss your Chattel Mortgage requirements in detail. Call 1300 000 008

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Chattel Mortgage Calculator FAQs

Chattel Mortgage is the most commonly used type of finance for business vehicles and estimates on repayments can easily be calculated with our calculator. Despite the unusual name which can lead to some confusion, Chattel Mortgage has a very straightforward loan structure. This loan structure makes it ideal for using our calculator to get a rough idea of repayments. Using the calculator is relatively simple, just enter the loan amount, balloon and loan term and you’ll see the repayment that relates to. If you still have questions, please read below or contact us to discuss your particular query on 1300 000 008.

What work vehicles is this suitable for?   

The calculator is suited for calculating repayment estimates on all types of business vehicles. This includes passenger vehicles such as sedans, hatchbacks, wagons and SUVs. The calculator can be used for all work style vehicles such as utilities, cab chassis, dual cabs, SUVs and other similar vehicles. Light commercial vans are included in our car finance category but above that size, such as light duty trucks, we refer you to a truck loan calculator. There is no maximum purchase price or vehicle value applicable to the use of the calculator. The criteria for the vehicle to be eligible for business finance is primarily that it is purchased to be used in a business and it is being purchased by a business entity. As long as the work vehicle is being purchased for work and by an entity or person with an ABN, then this calculator and related interest rate is suited to calculating repayment estimates.

Is GST included or added to the repayment shown?   

Under a Chattel Mortgage car finance contract, the total GST applied to the purchase price of the vehicle is claimable by the buyer on the next ensuing BAS return if the buyer is registered for GST. As the full amount of GST relating to that vehicle has then been accounted for, GST is not applicable to the monthly repayments or the balloon. GST is not applied to the interest component of the finance. When entering the loan amount in the calculator, you can enter the full purchase price of the vehicle including the GST component. The repayments will be calculated based on that figure including the GST less any balloon amount if selected. GST is not shown separately or itemised in the calculator functions. If you would like to calculate repayments for the ex-GST price of a vehicle, simply enter that amount in the loan amount field. Some car dealers and manufacturers will advertise a purchase price plus GST.

How do I allow for the value of a trade-in?   

If you are trading in your existing vehicle on the new vehicle it depends on how you plan to use the trade-in money as to how you allow for it when entering the loan amount. If you choose to deduct the trade-in price directly from the purchase price of the car and get a Chattel Mortgage for the balance of what is owing on the new car, you will need to estimate what you think you may get as a trade-in and deduct that from the loan amount you enter. You can refer to valuation guides or request a trade-in offer before using the calculator or simply work on your own guesstimate. Another way of approaching a trade-in is to have the dealer give you the money in cash and borrow 100% of the purchase price of the car. If you choose that option, simply enter 100% of the purchase price of the car into the calculator.

How can I confirm the repayment calculated?   

The calculator estimates repayments as a ballpark to use when comparing a number of vehicles you are considering and to provide assistance when planning how you might like your car finance to be structured in regard to loan term and balloon. The repayment shown when using the calculator is not an offer of a loan, it is an estimate. Due to the limitations of all these types of functions, allowance is not able to be made for fees and charges for individual lenders or aspects of your loan application which may affect the interest rate offered. In order to receive a firm quote for your Chattel Mortgage, you can phone us or click on the request quote button. There is no obligation attached to these steps. To apply for car finance, you will need to contact us or a lender and provide details of your business and your vehicle so a firm quote can be sourced.

What if the repayment shown is higher than I want?   

One of the great benefits of a finance calculator is the ability it provides to quickly change the amounts and values you enter to arrive at a repayment estimate that does meet your requirements. If the repayment estimate is higher than you want, you can vary the balloon, loan term or the loan amount. By increasing the loan term while keeping the balloon and loan amount the same, the repayment will be reduced. But it will take longer to repay the loan and more interest may be payable than for a shorter loan term. By increasing the balloon the repayment will be reduced but be mindful of the value of the vehicle at end of loan time in relation to the amount of the balloon. If you reduce the total loan amount the repayment would reduce. This may be achieved by considering paying a deposit.

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