Tax effective car ownership for people with business use.
A chattel mortgage is an extremely tax-effective car finance product that requires an element of business use, or the vehicle to be owned by a company or Trust. Like a mortgage on your house, it’s a loan that you pay back on a monthly basis. You own the vehicle but the finance company holds a mortgage on the car (the ‘chattel’) as security. A chattel mortgage can be in your name, a business name or a Trust’s name, depending on which delivers the greatest tax savings.
If you have more than 50% business use, or you put the vehicle in the name of a company or Trust, it can be financed with a chattel mortgage. If you’re a sole trader, business owner or company director, it could be just what you’re looking for.
While a regular chattel mortgage only includes finance, Autopia’s fully maintained chattel mortgage, Go Drive Business, wraps the finance and all the running costs into one set monthly payment – giving you financial certainty and making your life easier.
That depends, if you ask us to help we’ll save you thousands on purchase price for starters, then you’ll save on servicing, tyres & repairs, and you’ll save a huge amount of time as we take care of your tax deductions at the end of the financial year for you.