1300 Chattel Mortgage can provide you access to Chattel Mortgage finance that have no payout penalties. This is very important when deciding on which car finance product to choose as over 80% of car finance products are paid out early. This should be the key factor when choosing your next Chattel Mortgage finance as any payout penalty can outweigh any small differences in monthly repayments or interest rates.
No retained interest in the event of an early payout, this can effectively save you thousands of dollars in payout penalties.
The simple answer is "money", this provides banks with an lucrative income stream and one area where they make large profits. Most banks retain at least 25% - 30% of the remaining interest, some retain upto 80%. And this is on top of the money you've already paid back.
All payout penalty wording is hidden and buried deeply within the terms and conditions of the contract. Look for discount interest rate, termination fees etc, these are examples of payout penalties. Remember it's a legal requirement to have written into the contract any forms of payout penalties.
Ask the bank, finance provider or finance broker, what is the payout penalty or retained interest. If they say none, get it in writing. 1300 Chattel Mortgage can give you access to Chattel Mortgage finance where you pay absolutely no retained interest, no payout penalties, in fact we have Chattel Mortgage products with no set-up fees as well.
It's easy, just call 1300 Chattel Mortgage that's 1300 242 883.
If you are looking at a Chattel Mortgage as a way to finance your next car purchase, why not consider these other car financing options? If you need further information and expert advice, call us today on 1300 Chattel Mortgage that's 1300 242 883.