The primary difference between a hire purchase and chattel mortgage is who takes ownership of the vehicle. Your financier "owns" the truck in a hire purchase, whereas ownership passes to you in a chattel mortgage. Always refer to your accountant or financial advisor about which option is best for your individual business structure. If you'd like some information on the best way to structure your chattel mortgage, we'd love to help - give us a call on 1300 665 906 today, it's obligation free!