How to Use the Commercial Goods Loan Calculator
- Enter your asset price — the purchase price including or excluding GST
- Select "Chattel Mortgage" as your finance structure (this is the same product)
- Set your term — typically 3–7 years
- Enter an interest rate — start with 6.5% as a guide
- Add a balloon (optional) — 0–50% to reduce regular payments
- Review results — weekly/monthly repayments, GST credit, Year 1 deductions
Why Does the Calculator Say "Chattel Mortgage"?
The finance industry traditionally calls this product a chattel mortgage. Banks have rebranded it as a "commercial goods loan" or "business loan — goods", but the structure, tax treatment, and repayments are identical. Our calculator uses "chattel mortgage" as the industry-standard term — the results apply to commercial goods loans too.
What the Calculator Shows You
- Weekly and monthly repayments — principal + interest
- GST credit — the amount you'll claim on your next BAS
- Year 1 interest deduction — tax-deductible interest for the first year
- Year 1 depreciation — based on the asset's effective life
- Total cost over the term — including interest and balloon
All results are estimates for general guidance. Actual terms depend on lender approval. Consult a tax professional for advice specific to your situation.
Commercial Goods Loan FAQ
Is a commercial goods loan calculator the same as a chattel mortgage calculator?▼
Yes — identical. A commercial goods loan is the modern bank name for a chattel mortgage. The repayments, GST credits, interest deductions, and depreciation are calculated the same way for both.
What interest rate should I use?▼
Rates vary by lender, asset type, and your credit profile. For indicative estimates, try 5.5%–8.5%. New vehicles and equipment from established businesses typically attract the lower end of that range.
Should I include a balloon payment?▼
A balloon reduces your regular repayments but means a lump sum at the end. It works well if you plan to trade/sell the asset or refinance. If cash flow is tight during the term, a 20–30% balloon can free up significant weekly cash.