Contract Maintenance

Our commitment to the Banking Code of Practice

Banking Code of Practice

Since 2019, we’ve adopted the Australian Banking Association’s Banking Code of Practice (the Code). The Code outlines standards of practice and service that protect the safety and trust of individual customers, small business customers and their guarantors.

Taking extra care with clients experiencing vulnerability

Customers may experience a range of circumstances that require extra care and a more sensitive approach in dealing with their situation over the life of their loan.

If a customer discloses they are experiencing vulnerability, or you identify a situation that may require extra care and a more sensitive approach at any point in time throughout the life of a customer’s loan (this includes initial engagement prior to the client entering the loan), immediately refer them to us and we’ll carefully assess their circumstances and respond with appropriate assistance.

Please refer to our Product Handbook and view Our commitment to the banking code of practice section for more information.

Help Centre

YourLease

YourLease is an online account management system and offers a convenient way for your customer to manage their accounts online, 24/7.

Customers will be able to request, view or update the following on YourLease:

  • payout quote
  • payment history
  • interest amortisation schedule*
  • view and update personal details
  • view and update direct debit details.

*subject to a 2-3 business day turnaround.

Please note YourLease is not available for novated lease contracts.

For any customer issues accessing Yourlease, please contact us on 1300 368 908.

Direct debit

To change direct debit details, the below options are available:

With regards to making extra payments, please contact us on 1300 368 908.

Request a payout figure

To finalise a contract early, it must be paid out. Customers can request a payout figure at any time during the life of their contract. Please note paying out a loan early may incur additional fees and charges.

Requesting a payout figure

1. YourLease - Customers can access a payout on YourLease

2. Contact us – Customers can call 1300 368 908 and or email us at leasingcustomerservice@macquarie.com to request for a payout figure 

Paying out a consumer loan early

If a customer fully repays the loan before the final payment under the contract is due, an Early Repayment Fee is payable.

For contracts which commenced on or before 1 August 2017, this fee will be $750.00 reducing on a pro rata basis for each month of the loan term.

For contracts which commenced after 1 August 2017, the Early Repayment Fee will be $750.00 reducing on a pro rata basis for each month of the loan term, plus a fixed fee of $50.00.

If a customer makes additional payments throughout their contract, they may finalise the contract earlier.

Once the full payout amount has been paid and cleared, the account is considered finalised and the customer will receive a payout confirmation letter confirming their asset is no longer encumbered.

Paying out a commercial contract early

The payout figure is calculated as the present value of the sum of the following plus GST where applicable. To calculate the present value, the early termination rate/discount rate (as per the contract) is used.

  • Any and all amounts in arrears (if any); plus
  • The present value of the remaining instalments which haven’t yet become due under the contract; plus
  • The present value of the residual value or balloon; plus
  • Any fees and charges payable on termination.

Authorised third party access

Under the Australian Privacy Principles, we can’t provide unauthorised parties with personal or contract information without prior consent from the customer.

Customers can grant authority for third parties to act on their behalf in respect of a contract.

Customer consent can be provided in writing or verbally.

There are three levels of authority that a customer can provide:

1.     Full Authority: grants access to all personal and account information and allow the authorised person to negotiate and agree on the customer's behalf. Furthermore, the authorised party will be allowed to incur fees on the contract.

2.     Payout only: will allow the authorised party to obtain payout information only which includes residual, balloon or payout due dates and amounts only.

3.     Payment information only: will allow the authorised party to obtain information relating to the frequency, due dates, amount of payments and end of finance payments.

For written authority to be provided, the customer must complete and sign the Letter of authority form.

Contract variation

From time to time, situations may occur that are beyond the customer’s control that will require a variation to their contract.

For more information, please speak to your Macquarie contact to discuss the options available.

Additional information

This information is provided by Macquarie Leasing Pty Limited ABN 38 002 674 982 Australian Credit Licence 394925 (Macquarie Leasing) for use by accredited introducers only. In no circumstances is it to be used by a potential client for the purposes of making a decision about a credit product or class of products.

Macquarie Leasing recommends that you and/or your clients review the relevant documentation and form your own opinion or seek independent advice as to the financial, accounting and tax consequences of entering into any of Macquarie Leasing products.