ˌʌndɚɹ ɐ tˈɪpɪkəl tʃˈæɾəl mˈɔːɹɡɪdʒ, ðə pˈɜːtʃɪsɚ bˈɑːɹoʊz fˈʌndz fɚðə pˈɜːtʃɪs ʌv mˈuːvəbəl pˈɜːsənəl pɹˈɑːpɚɾi ðə tʃˈæɾəl fɹʌmðə lˈɛndɚ.
Under a typical chattel mortgage, the purchaser borrows funds for the purchase of movable personal property (the chattel) from the lender.