Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. The material is not intended to provide you with financial or tax advice and does not take into account your objectives, financial situation or needs. The material is for general information only and is not an offer for the purchase or sale of any financial product or service. Money is a corporate authorised representative (CAR 001307399) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C). This material has been prepared by Money Pty Limited (ABN 40 664 954 536) (Money, ‘us’ or ‘we’). We are not a broker or credit provider and when we provide information via this website, we are not providing you with a recommendation or suggestion about a particular credit product. ![]() Money does not compare every Lender all products or issuers available in Australia. Money Pty Ltd (trading as Money) Australian Credit Licence 528698 provides information about credit products and is authorised to do so as the holder of Australian Credit Licence 528698. Calculating your repayments can be useful if you're comparing a chattel mortgage to other finance options. You can then select Monthly, Fortnightly, or Weekly repayments to see what your repayment amount will be at various frequencies. Once you have filled in your chattel mortgage loan details, simply click ‘See My Repayments’ to view an estimated repayment amount. The loan term is important as it will allow you to accurately calculate your monthly and weekly payments as well as your overall chattel mortgage cost. Loan term: The length of your chattel mortgage as dictated by your loan agreement. This will allow you to determine the full total amount of your chattel mortgage. It will result in a r educed regular repayment amount and higher, final payment.Įstablishment fees: Any upfront fees charged by the lender when creating the chattel mortgage finance agreement. Interest rate: This is the fixed interest rate on your chattel mortgage applied by the lender.īalloon payment: A balloon payment is usually represented as a percentage of the total loan amount. Loan amount: The amount of money you will be borrowing under the chattel mortgage agreement. To use the chattel mortgage calculator, you’ll need to enter some details about your loan. You can also include loan establishment fees so you get an accurate overall cost, and you can see what impact a balloon payment would have on your loan. Our chattel mortgage repayment calculator lets you see what you’ll be paying back weekly, fortnightly or monthly on a chattel mortgage based on the loan amount, interest rate and term.
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