Tools
Equipment finance calculator.
Chattel mortgage arithmetic — the repayment, the interest, and the balloon, with nothing hidden and no email wall in front of the answer.
Default rate is the median advertised from-rate on the board (9.2% p.a., read 2026-08-02). It is a market marker, not your rate — lenders price each file on its own facts.
Monthly repayment
$1,267
≈ $292 a week
Total interest
$23,545
Balloon due at end
$22,500
Total paid
$98,545
principal $75,000 interest $23,545each square ≈ $1,642
$22,500of the principal is not amortized — it falls due as one lump sum with the final payment. That is the balloon’s trade: lower repayments now, a refinance-or-pay decision later.
Numbers you like? Bring them into a file — the chat gathers what lenders actually read, in about ten minutes.
Start a fileArithmetic only — not a quote, not an offer, and not financial or tax advice. Business purpose lending. Tax treatment (GST credits, depreciation, interest deductions) is your accountant’s domain, not a calculator’s.
How to read these numbers
A chattel mortgage is the workhorse of Australian equipment finance: the lender advances the price of the asset, takes security over it, and you own it from day one. The repayment is set by four levers — amount, term, rate, and balloon — and the balloon is the one people misjudge. It lowers the monthly figure, but it does not go away: it waits at the end of the term as a lump sum, and the interest bill is larger because that slice of principal was never being paid down.
The default rate here is not an offer. It is the median advertised from-rate on the rate observatory — what lenders say in public, today. What any lender actually prices for a specific business depends on the file: trading history, statements, the asset itself. That file is the part we do.