Chattel mortgage calculator: Work out your repayment

loans.com.au - New/Demo - Variable Rate

5.99 % p.a.

variable rate

7.12 % p.a.

comparison rate

Simply enter the purchase price, interest rate, loan term (and any residual payment) in the calculator below to work out your repayments:

If you need more help using the calculator, please click here.

What is a chattel mortgage?

A chattel mortgage is effectively another term for a secured business car loan. This means that your business borrows money from a lender to fund the purchase of a vehicle and you then make regular repayments until the loan is paid off.

Unlike other forms of business vehicle finance, your business takes ownership of the vehicle immediately, and the vehicle is used as collateral against the loan.

How a chattel mortgage works

How to use a chattel mortgage calculator

These are the details you'll need to provide to calculate your repayments:

The purchase price refers to the total amount you need to borrow to cover the cost of the vehicle.
The leasing term refers to how long you have to repay the loan (the loan term).
The interest rate is the rate of interest you'll make on the amount you borrowed.
The residual amount and percentage are optional fields and should only be filled in if you chose to make a residual payment. A residual payment is a lump sum that is paid at the end of the loan term.

Clint gets a chattel mortgage

Clint has decided to purchase a vehicle through a financier. He understands that the vehicle will be used as security for the loan so he wants to make sure he chooses a loan that he can repay easily. In order to make sure he can make the repayments, he turns to the chattel mortgage calculator to get an idea of what his repayments will be.

He is looking to borrow $10,000 and hopes to get a 6% interest rate, a three-year loan term and he wants to make monthly repayments. He doesn’t plan to opt for a residual payment so he leaves those fields empty when using the calculator. Based on this information, Clint will be paying $302.71 each month towards the loan. He can now take that information and decide if he’d like to look for another loan or choose to apply for this one.

Questions you might have about the chattel mortgage calculator

How accurate is the calculator?

A chattel mortgage calculator comes up with a repayment amount based on the information you provide using basic arithmetic. If you use exact amounts based on a current loan or a proposed loan agreement your result will be accurate, but if you use estimates in the calculator your result will only be an approximation.

Can I use the calculations to get that exact loan from a lender?

A chattel mortgage calculator is only supposed to be used as an estimate of what you expect your repayment to be. It doesn’t mean that you’ll be offered that exact loan and repayment amount from a lender. Individual lenders will make up their own terms, including the interest rate, based on their findings during the application process and will offer a loan agreement from there.

Use the chattel mortgage calculator below to help in your comparisons.

Compare car loans

Unless the vehicle is intended to be used for business purposes, and you want to take advantage of the tax offsets offered by a chattel mortgage, you may be better suited applying for a normal car loan.

1 - 20 of 22

Name	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
IMB New Car Loan Fixed1 - 7 Years $2,000 - $125,000	Interest Rate (p.a.) 6.24%	Comp. Rate (p.a.) 6.59%	Application Fee $274.78	Monthly Fee $0	Monthly Repayment $619.01	Go to site More info Compare	Borrow up to $125,000, pay no account-keeping fees and repay with fixed repayments while having the ability to repay early.
Stratton Finance New Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.52% to 18%	Comp. Rate (p.a.) 6.95% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $625.27	Go to site More info Compare	Your own personal car loan broker can help you borrow up to $300,000 for your new car by choosing from a range of finance options.
loans.com.au - New/Demo - Variable Rate Variable3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 5.99% to 7.14%	Comp. Rate (p.a.) 7.12% to 8.27%	Application Fee $400	Monthly Fee $8	Monthly Repayment $628.52	Go to site More info Compare	Borrow up to $150,000 with rate discounts for electric and hybrid vehicles, flexible terms, early repayment options, and a 3-month pre-approval period.
OurMoneyMarket New Car Loan ($5,000-$100,000) Fixed1 - 7 Years $5,000 - $100,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee 1.5% - 6%	Monthly Fee $0	Monthly Repayment $622.82	Go to site More info Compare
Driva Car Loan Fixed or Variable1 - 7 Years $2,001 - $300,000	Interest Rate (p.a.) 6.57% to 36%	Comp. Rate (p.a.) 6.78% to 36%	Application Fee $0 - $500	Monthly Fee $0	Monthly Repayment $613.62	More info Compare	You'll receive a fixed rate from 6.57% p.a. Borrow up to $300,000 with loan terms from 1 to 7 years. Get access to a range of lenders.
RACV New Car Loans Fixed1 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 6.99% to 17.99%	Comp. Rate (p.a.) 7.69% to 18.77%	Application Fee $499	Monthly Fee $0	Monthly Repayment $632.86	Go to site More info Compare	You'll receive a fixed rate from 6.99% p.a. A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
loans.com.au - Variable Rate Used Car < 5 years Variable3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 7.14% to 7.14%	Comp. Rate (p.a.) 8.27% to 8.41%	Application Fee $400	Monthly Fee $8	Monthly Repayment $639.2	Go to site More info Compare	Buy a used car up to 12 years old with a loan of up to $150,000 and pay off up to one year early without paying early repayment fees.
Stratton Finance Used Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.52% to 18%	Comp. Rate (p.a.) 6.95% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $625.27	Go to site More info Compare	You'll receive a fixed rate loan from 6.52% p.a. with a comparison rate of 6.95% p.a. A used car loan of up to $300,000 with quick approval times and balloon payment options.
OurMoneyMarket Used Car Loan ($5,000-$100,000) Fixed1 - 7 Years $5,000 - $100,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee 1.5% - 6%	Monthly Fee $0	Monthly Repayment $622.82	Go to site More info Compare
RACV Used Car Loans Fixed1 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 8.19% to 17.99%	Comp. Rate (p.a.) 8.9% to 18.77%	Application Fee $499	Monthly Fee $0	Monthly Repayment $644.16	Go to site More info Compare	You'll receive a fixed rate from 8.19% p.a. Benefit from no ongoing fees, 5-hour approval and a 21-day satisfaction guarantee. Interest rate discounts for members.
Verified Lending Used Car Loan Fixed1 - 7 Years $10,000 - $200,000	Interest Rate (p.a.) 7.1% to 18.99%	Comp. Rate (p.a.) 8.06% to 22.99%	Application Fee $395	Monthly Fee $0	Monthly Repayment $630.67	More info Compare
loans.com.au - New/Demo - Fixed Rate Fixed3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 6.89% to 8.09%	Comp. Rate (p.a.) 8.02% to 9.2%	Application Fee $400	Monthly Fee $8	Monthly Repayment $636.87	More info Compare	You'll receive a fixed rate of 6.89% p.a. based on your risk profile Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment.
loans.com.au - Variable Rate Used Car < 3 years Variable3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 7.14% to 7.14%	Comp. Rate (p.a.) 8.27% to 8.41%	Application Fee $400	Monthly Fee $8	Monthly Repayment $639.2	Go to site More info Compare
loans.com.au - Fixed Rate Used Car < 3 years Fixed3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 7.59% to 8.79%	Comp. Rate (p.a.) 8.72% to 10.04%	Application Fee $400	Monthly Fee $8	Monthly Repayment $643.41	More info Compare
loans.com.au - Fixed Rate Used Car < 5 years Fixed3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 7.69% to 8.89%	Comp. Rate (p.a.) 8.82% to 10.14%	Application Fee $400	Monthly Fee $8	Monthly Repayment $644.35	More info Compare
loans.com.au - Fixed Rate Used Car Loan (6 to 7 years) Fixed3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 8.99% to 10.19%	Comp. Rate (p.a.) 10.12% to 11.44%	Application Fee $400	Monthly Fee $8	Monthly Repayment $656.62	More info Compare
loans.com.au - Fixed Rate Used Car Loan (8+ years) Fixed3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 12.69% to 13.89%	Comp. Rate (p.a.) 13.8% to 15.14%	Application Fee $400	Monthly Fee $8	Monthly Repayment $692.31	More info Compare
ING Personal Loan Fixed2 - 7 Years $5,000 - $60,000	Interest Rate (p.a.) 6.89% to 19.99%	Comp. Rate (p.a.) 7.17% to 20.31%	Application Fee $199	Monthly Fee $0	Monthly Repayment $622.67	More info Compare	You'll receive a fixed rate of 6.89% p.a. Benefit from no ongoing fees, no early repayment fees and flexible loan terms on amounts up to $60,000.
loans.com.au - Variable Rate Used Car Loan (6 to 7 years) Variable3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 7.14%	Comp. Rate (p.a.) 8.27%	Application Fee $400	Monthly Fee $8	Monthly Repayment $639.2	More info Compare	You'll get a variable rate of 7.14% p.a. Borrow up to $150,000 for a used car for 6+ years, with no monthly fee.
loans.com.au - Variable Rate Used Car Loan (8+ years) Variable3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 12.09%	Comp. Rate (p.a.) 13.2%	Application Fee $400	Monthly Fee $8	Monthly Repayment $686.45	More info Compare	You'll get a variable rate of 12.09% p.a. Borrow up to $150,000 for a used car for 8+ years, with no monthly fee.

Showing 20 of 22 results

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6 Responses

TammyJune 11, 2017

I want to purchase a mobile home and I would like to borrow $20,000. What is the maximum time and rate for repayment?

JonathanJune 11, 2017

Hi Tammy!

Thanks for the comment.

You may get in touch with a mortgage broker for a thorough advice on your repayments based on your specific circumstances. A mortgage broker is a professional who compares and helps you apply for home loans on your behalf. A good mortgage broker will give you personalised service all the way through to settlement.

Hope this clarifies.

Cheers,
Jonathan

stichedupJuly 1, 2015

Is there a cooling off period for channel mortgage finance?

Finder

ElizabethJuly 6, 2015Finder

Hi Stichedup,

Thanks for your question.

This is possible but there would need to be a cooling off period specified in the contract for it to apply.

I hope this has helped.

Thanks,

Elizabeth

MikeMay 24, 2015

Chattel mortgage interest rates, current rate for new ford ranger 4×4

Finder

MattMay 25, 2015Finder

Hi Mike,

Thanks for your comment. As finder.com.au is a comparison service, we can’t provide you with the chattel mortgage rates. You’ll need to contact a lender to find out more.

Cheers
Matt

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Chattel mortgage calculator

Work out your estimated repayments with our chattel mortgage calculator.

What is a chattel mortgage?

How to use a chattel mortgage calculator

Clint gets a chattel mortgage

Questions you might have about the chattel mortgage calculator

How accurate is the calculator?

Can I use the calculations to get that exact loan from a lender?

Compare car loans

Ask a question

6 Responses

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