Chatel mortgage vs. Overdraft vs. any other loan, the client must consider the following:
- cash in-flow / out-flow forecast - will they expect to collect or spend a lot in the coming days/mths/yrs
- their situation - tight on cash?
- Interest rate - compare the rates for all of them for the period that they offer (chatel mortgage generally is 60 month period)
TT's experience that Overdraft is better than Chatel mortgage because interest rate for overdraft is lower.