Comparison of Financial Products

  Chattel Mortgage Finance Lease
Commercial Hire Purchase
Operating Lease
Ownership Immediate None
End of Contract None
Equity Buildup Faster Slower Faster None
Tax Depreciation Customer Cat Financial Customer Cat Financial
Payment Higher Lower Higher Lower
Contract Flexibility Yes Yes Yes No
GST Goods and Services Tax Applied upfront Applied on monthly rental Applied upfront Applied on monthly rental
Additional Information
  • Customer Owns and depreciates
  • Immediate equity through down payment or trade-in
  • Quickest equity buildup through repayment
  • Customer responsible for residual amount
  • Equity buildup is slow
  • GST applied to term charges
  • Customer treats unit as rental
  • No equity buildup

 

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