Chattel Mortgage Repayments Calculator

See how we can help you with your chattel mortgage by using our calculator to determine the cost of your financing. Find low rates and fees with us today.

Chattel mortgage calculate

Above all else, it’s essential that you enter the chattel mortgage comparison process with an idea of the total amount your agreement might add up to. One of the best ways you can go about working this out is by using Savvy’s chattel mortgage repayment calculator.

It’s a simple-to-use tool that allows you to calculate and compare the costs of the best offers on the market. The inputs below enable you to calculate different offers based on loan amount, interest rate, term length and whether you’re looking to use a deposit or residual.

Try before you buy with our calculator now to give you more confidence before getting a quick quote.


Chattel Mortgage Loan Repayments Calculator Icon  Your repayments$0.00
Total interest paid: $0.00
Total amount to pay: $60,444.00

The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by Savvy. It does not take into account your personal or financial circumstances. To apply for a car loan, you must complete our online application. All applications are subject to our lenders' credit assessment criteria. Terms, conditions, fees and charges apply.

See how we can help you with your chattel mortgage

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Low interest rates from 2.99% p.a. (3.36% p.a. comparison)

You can compare and choose from the lowest rates on the market for chattel mortgages, coupled with products offering very affordable fees.

Select any loan term you wish

You’re afforded the flexibility to choose the period over which you’ll repay your financing agreement, from as few as one year to as many as seven.

Borrow up to 100% of your car’s value

Chattel mortgage customers are only limited by their borrowing capacity when it comes to the amount they can be approved for under finance.

Optional deposits and residuals

Adding a deposit and/or a residual (or balloon) payment is an effective way to cut down the monthly cost of your loan and save on interest.

Pay weekly, fortnightly or monthly

By selecting the schedule on which you make your loan payments, you’re given the option to tailor these payments to fit around your income needs.

Numerous tax benefits

Chattel mortgages enable you to claim the GST on your vehicle, saving a significant amount on tax, as well as interest on your loan and your car’s depreciation.

Available to self-employed workers

These products aren’t limited solely to established small or larger business owners. Even if you don’t have your financials up to date, there are options for you.

Ownership from the beginning

Unlike other commercial products like car leases and hire purchases, you own your car from the moment your loan begins, giving you more power over how to use and modify it.

Why so many Australians choose Savvy for their chattel mortgage

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Frequently asked questions about chattel mortgages

How do chattel mortgages work?

Chattel mortgages are essentially secured car loans designed for businesses. It’s comprised of the asset under finance (the chattel) and the loan being repaid (the mortgage). When you take out a chattel mortgage, you own the vehicle from the start, meaning you can start claiming for GST and other tax benefits immediately. Once you’ve fully repaid the loan, the lender’s interest in your car (the mortgage) is dropped, and you’re free to do whatever you please with it.

Will my interest rate change throughout my loan?

No – all chattel mortgage interest rates are fixed, which means that your interest and monthly repayments will stay consistent across your financing term. This makes it easier to budget around these repayments.

How fast are chattel mortgages to process?

If you have your car picked out quickly and can submit all of your documents on time and correctly, your chattel mortgage can be processed, approved and settled in as few as 48 hours. This means that the funds will be available to your business sooner, allowing you to get on the road in no time with your new purchase.

Can I choose the value of my residual payment?

Yes – one of the advantages of chattel mortgages is that you have a say in customising the amount you can put at the end of your loan as a residual. This isn’t the case with car leases, whose minimum residual values are set and enforced by the ATO. As such, you can shape the value of this payment to suit your needs, shaping the cost of your monthly instalments in the process.

What can I use my car for under commercial finance?

Whilst under a chattel mortgage agreement, your vehicle must be used for business purposes at least 50% of the time. These restrictions are in place to ensure that the vehicle you’re buying is worthy of being a commercial product, as any less than this would make it more of a standard, private-use car loan.

What are my chattel mortgage options if I can’t supply tax returns as a sole trader?

If you’re unable to provide tax returns from the previous two financial years and are a self-employed worker, you can instead apply for a low doc car loan. These make use of alternative documentation such as BAS, profit and loss statements, bank statements, ABN and GST registration and income declarations. Because they’re seen as being more of a risk to a lender, these come with higher interest rates and lower borrowing limits.