Chattel Mortgage is the most popular form of business finance for many goods and assets including cars, trucks and a wide range equipment. It is suited to a cash accounting method which is the preferred method of many Australian businesses.
A Chattel Mortgage calculator enables you to calculate an estimate of monthly repayments on a Chattel Mortgage regardless of what you are purchasing. These resources are available on many finance provider websites and are easily accessed on most computers, laptops, smart phones and tablets. They do have limitations, so users must read the disclaimers, terms and conditions for the calculator they are using to ensure they are fully informed.
The calculators can be a very helpful resource for business:-
· Assist planning cash flow projections to allow for a Chattel Mortgage acquisition.
· Compare repayments on different makes and models of equipment at different price points.
· Easily see how varying aspects of a Chattel Mortgage, eg the loan term or balloon, changes the repayment amount.
· Clarify how you would like your Chattel Mortgage structured in relation to balloon amount and loan term.
· Can be used for wide range of equipment and car purchases
· Applicable to both new and used equipment and car purchases
Most calculators follow a similar format with the value fields and essential information required by individual calculator providers clearly indicated.
With these values entered, the device will calculate a monthly repayment estimate for your Chattel Mortgage. If the result is more or less than you anticipated, you can change the values entered, ie loan term or balloon, and see how that changes the repayment level.
The result displayed is only an indicator and the Chattel Mortgage you may be offered may be higher or lower than this result. It is also not an indication of any loan approval or offer, but it may be a significant step forward to achieving your financial objectives.
If you would like to be directed to a Chattel Mortgage Finance Calculator, please contact us. We know where you can access such a resource.