A chattel mortgage is an older term that refers to a loan to purchase a car or piece of equipment, which is then used as security against the loan. Some lenders, including NAB may call it an equipment loan.
The information contained in this article is correct as of July 2018 and is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, NAB recommends that you consider whether it is appropriate for your circumstances. NAB recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.