Corporate and business clients need to keep their financial position in mind at all times. We at Savvy understand the needs for growth often come in unexpected ways. If your business is looking to invest in a single- or twin-engine aircraft, a helicopter or even a Very Light Jet (VLJ), a finance package known as a chattel mortgage may be the solution. With Savvy’s unbeatable low rates, business advantages and a raft of options to select from, you too can ride the skies higher with Savvy.
A chattel mortgage is a type of loan that is comprised of two parts – the chattel and the mortgage. Chattel is conversely a “security;” – in this case the purchased aircraft. The mortgage is the loan balance and interest you owe. You retain ownership over the aircraft. Once the loan is paid in full, the mortgage is removed.
Chattel mortgages are a popular choice for business as companies can claim the GST paid on the aircraft on their next Business Activity Statement (BAS.) Businesses may also claim depreciation and interest charges.
Chattel mortgages are a type of secured aviation loan. You benefit from significantly lower interest rates in these types of transactions. We scour over 25 of Australia’s leading aviation lenders and banks to find the most affordable and flexible deal for all our customers.