Chattel Mortgage Calculator Australia

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.

Looking for a personal car loan? Compare now

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.

Chattel mortgage GST & tax benefits

When you run the numbers in the chattel mortgage calculator, remember that the repayments don't tell the whole story. Chattel mortgages often come with tax advantages that can lower your real cost of ownership.

The interest you pay may be deductible as a business expense, and if your business is registered for GST you could claim input tax credits on the purchase price of the vehicle. These credits are reported on your BAS for the relevant period.

GST credit cap: The GST you can claim on a car is limited to 1/11th of the ATO's annual car depreciation cost limit.
2025–26 limit: The cap is $69,674, meaning the maximum GST credit available is $6,334.
Business vs private use: You can only claim the portion of GST and deductions that relates to business use.

Example using the calculator

Vehicle price	Claimable GST credit
$50,000	$4,545 (full GST credit)
$100,000	$6,334 (capped at ATO limit)

By combining the calculator with these GST rules, you'll get a clearer idea of how much your repayments really cost after tax benefits.

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.

• Can I make extra payments on a chattel mortgage?

  Yes. Most lenders allow extra repayments or even an early payout, but be aware that fees may apply. Some banks, like Great Southern Bank, calculate early termination costs based on the interest you would have paid if the loan had run its full term.

• How does the loan term impact my chattel mortgage repayments?

  A longer loan term means smaller monthly repayments but more interest over time, while a shorter term means bigger monthly repayments but lower total cost. For example, if you borrow $40,000 at 10% p.a., your repayments would be about $849 a month over 5 years, compared to $707 a month over 6 years.

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.

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Finder Score	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Rewards	Monthly Repayment
Promoted Finder Score 9.5 Excellent IMB New Car Loan Fixed1 - 7 Years $2,000 - $125,000	Finder Score 9.5 Excellent	Interest Rate (p.a.) 5.99%	Comp. Rate (p.a.) 6.34%	Application Fee $274.78	Monthly Fee $0	Monthly Repayment $616.71	Borrow up to $125,000, pay no account-keeping fees and repay with fixed repayments while having the ability to repay early.	Go to siteMore info Compare product selection Compare	loading
Promoted Finder Score 9.1 Excellent Stratton Finance New Car Loan Fixed1 - 7 Years $10,000 - $300,000	Finder Score 9.1 Excellent	Interest Rate (p.a.) 5.67% to 18%	Comp. Rate (p.a.) 6.1% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $617.41	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.	Go to siteMore info Compare product selection Compare	loading
Promoted Finder Score 9.3 Excellent OurMoneyMarket New Car Loan ($5,000-$100,000) Fixed1 - 7 Years $5,000 - $100,000	Finder Score 9.3 Excellent	Interest Rate (p.a.) 5.95% to 18.99%	Comp. Rate (p.a.) 5.95% to 21.78%	Application Fee $0 min.	Monthly Fee $0	Monthly Repayment $607.99	No monthly or early exit fees. Loan amounts range from $5,000 to $100,000. Eligibility: Applicants with an Equifax credit score of 500 or above and an annual income of more than $25k are eligible.	Go to siteMore info Compare product selection Compare	loading
Finder Score 8.1 Great loans.com.au - New/Demo - Variable Rate Variable3 - 7 Years $5,000 - $150,000	Finder Score 8.1 Great	Interest Rate (p.a.) 5.99% to 15.89%	Comp. Rate (p.a.) 7.12% to 17.01%	Application Fee $400	Monthly Fee $8	Monthly Repayment $628.52	Go to siteMore info Compare product selection Compare	loading
Finder Score 9.6 Excellent Great Southern Bank Fixed Rate Car Loan Fixed1 - 7 Years $5,000 - $100,000	Finder Score 9.6 Excellent	Interest Rate (p.a.) 5.99% to 12.99%	Comp. Rate (p.a.) 6.13% to 13.14%	Application Fee $0	Monthly Fee $0	Monthly Repayment $608.35	The $225 establishment fee waiver is available for new or existing customers who submit a Great Southern Bank personal loan application between 30 April 2025 and 24 February 2026. Great Southern Bank may withdraw or amend this offer at any time without notice. Lending criteria, limits, conditions, and fees apply.	ContinueMore info Compare product selection Compare	loading
Finder Score 8.7 Great Driva Car Loan Fixed or Variable1 - 7 Years $2,001 - $300,000	Finder Score 8.7 Great	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	ContinueMore info Compare product selection Compare	loading
Finder Score 8.5 Great RACV New Car Loans Fixed1 - 7 Years $5,000 - $100,000	Finder Score 8.5 Great	Interest Rate (p.a.) 6.59% to 17.69%	Comp. Rate (p.a.) 7.29% to 18.47%	Application Fee $499	Monthly Fee $0	Monthly Repayment $629.11	Go to siteMore info Compare product selection Compare	loading
Finder Score 8.1 Great loans.com.au - Variable Rate Used Car < 5 years Variable3 - 7 Years $5,000 - $150,000	Finder Score 8.1 Great	Interest Rate (p.a.) 5.99% to 15.89%	Comp. Rate (p.a.) 7.12% to 17.01%	Application Fee $400	Monthly Fee $8	Monthly Repayment $628.52	Go to siteMore info Compare product selection Compare	loading
Finder Score 8.9 Great Stratton Finance Used Car Loan Fixed1 - 7 Years $10,000 - $300,000	Finder Score 8.9 Great	Interest Rate (p.a.) 6.59% to 18%	Comp. Rate (p.a.) 7.91% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $625.92	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.	Go to siteMore info Compare product selection Compare	loading
Finder Score 9.3 Excellent OurMoneyMarket Used Car Loan ($5,000-$100,000) Fixed1 - 7 Years $5,000 - $100,000	Finder Score 9.3 Excellent	Interest Rate (p.a.) 5.95% to 18.99%	Comp. Rate (p.a.) 5.95% to 21.78%	Application Fee $0 min.	Monthly Fee $0	Monthly Repayment $607.99	No monthly or early exit fees. Loan amounts range from $5,000 to $100,000. No vehicle age limit. Eligibility: Applicants with an Equifax credit score of 500 or above and an annual income of more than $25k are eligible.	Go to siteMore info Compare product selection Compare	loading
Finder Score 8.2 Great RACV Used Car Loans Fixed1 - 7 Years $5,000 - $100,000	Finder Score 8.2 Great	Interest Rate (p.a.) 7.89% to 17.69%	Comp. Rate (p.a.) 8.6% to 18.47%	Application Fee $499	Monthly Fee $0	Monthly Repayment $641.32	Benefit from no ongoing fees, 5-hour approval and a 21-day satisfaction guarantee. Interest rate discounts for members.	Go to siteMore info Compare product selection Compare	loading
Finder Score 9.6 Excellent Verified Lending Used Car Loan Fixed1 - 7 Years $10,000 - $150,000	Finder Score 9.6 Excellent	Interest Rate (p.a.) 6.9%		Application Fee	Monthly Fee $0	Monthly Repayment $616.63	ContinueMore info Compare product selection Compare	loading
Finder Score 7.8 Great loans.com.au - New/Demo - Fixed Rate Fixed3 - 7 Years $5,000 - $150,000	Finder Score 7.8 Great	Interest Rate (p.a.) 6.54% to 15.24%	Comp. Rate (p.a.) 7.67% to 16.36%	Application Fee $400	Monthly Fee $8	Monthly Repayment $633.61	ContinueMore info Compare product selection Compare	loading
Finder Score 8 Great loans.com.au - Variable Rate Used Car < 3 years Variable3 - 7 Years $5,000 - $150,000	Finder Score 8 Great	Interest Rate (p.a.) 5.99% to 15.89%	Comp. Rate (p.a.) 7.12% to 17.01%	Application Fee $400	Monthly Fee $8	Monthly Repayment $628.52	Go to siteMore info Compare product selection Compare	loading
Finder Score 7.8 Great loans.com.au - Fixed Rate Used Car < 3 years Fixed3 - 7 Years $5,000 - $150,000	Finder Score 7.8 Great	Interest Rate (p.a.) 6.54% to 15.24%	Comp. Rate (p.a.) 7.67% to 16.36%	Application Fee $400	Monthly Fee $8	Monthly Repayment $633.61	Go to siteMore info Compare product selection Compare	loading
Finder Score 7.8 Great loans.com.au - Fixed Rate Used Car < 5 years Fixed3 - 7 Years $5,000 - $150,000	Finder Score 7.8 Great	Interest Rate (p.a.) 6.54% to 15.24%	Comp. Rate (p.a.) 7.67% to 16.36%	Application Fee $400	Monthly Fee $8	Monthly Repayment $633.61	Go to siteMore info Compare product selection Compare	loading
Finder Score 7.8 Great loans.com.au - Fixed Rate Used Car Loan (6 to 7 years) Fixed3 - 7 Years $5,000 - $150,000	Finder Score 7.8 Great	Interest Rate (p.a.) 6.54% to 15.24%	Comp. Rate (p.a.) 7.67% to 16.36%	Application Fee $400	Monthly Fee $8	Monthly Repayment $633.61	Go to siteMore info Compare product selection Compare	loading
Finder Score 7.8 Great loans.com.au - Fixed Rate Used Car Loan (8+ years) Fixed3 - 7 Years $5,000 - $150,000	Finder Score 7.8 Great	Interest Rate (p.a.) 6.54% to 15.24%	Comp. Rate (p.a.) 7.67% to 16.36%	Application Fee $400	Monthly Fee $8	Monthly Repayment $633.61	Go to siteMore info Compare product selection Compare	loading
Finder Score 9.1 Excellent ING Personal Loan Fixed2 - 7 Years $5,000 - $60,000	Finder Score 9.1 Excellent	Interest Rate (p.a.) 6.19% to 19.99%	Comp. Rate (p.a.) 7.03% to 20.78%	Application Fee $199	Monthly Fee $0	Monthly Repayment $616.23	ContinueMore info Compare product selection Compare	loading
Finder Score 9.4 Excellent Harmoney Car Loan Fixed3 - 7 Years $2,000 - $100,000	Finder Score 9.4 Excellent	Interest Rate (p.a.) 5.66% to 20.79%	Comp. Rate (p.a.) 5.66% to 21.71%	Application Fee $0 - $575	Monthly Fee $0	Monthly Repayment $622.77	Get an instant quote, flexible terms and a tailored fixed rate with zero paperwork and no hidden fees. Most loans are funded within 24 hours.	ContinueMore info Compare product selection Compare	loading

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