Popular FAQs for car loans
How can I get a car loan payout figure?
To finalise a contract early, it must be paid out. You can request a payout figure at any time during the life of your contract. Please note paying out a loan early may incur additional fees and charges.
To obtain a payout figure:
- Log in to your YourLease account and request a payout figure instantly. You may also download a Payout Letter which will include payment instructions if you want to payout
- Call us on 1300 368 908, 8am to 7pm (Sydney time) Monday to Friday or
- Email us at leasingcustomerservice@macquarie.com
Can you explain my car loan payout figure?
Depending on your loan type, your Payout Figure may be inclusive of various components. A general summary of payout figures by product type is shown below:
|
Consumer (Consumer Loan) |
Commercial (Chattel Mortgage, Finance Lease, Novated Lease, Commercial Hire Purchase) |
Payout figure consists of |
|
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.
|
Expiry of payout figure |
Five days from the date quoted. |
The day before your next payment is due. |
Fee |
Includes an early termination fee. |
No applicable early termination fee. |
You may also request a Payout Breakdown Letter or a Payout Explanation Letter, which will outline how your payout figure has been calculated.
Can I make extra payments on my car loan?
Yes, you may make additional payments on your loan:
- To obtain manual payment details, please visit YourLease. You'll have the option to pay via BPAY® and electronic funds transfer
- By making additional payments on a consumer loan, you may reduce the total interest payable over the loan period. Please note that by making additional payments, this could finalise your contract early and early termination fees may apply
- Given the product type for a commercial loan, there aren’t any interest savings when making additional payments
- If you’d like to make additional payments, it’s important to let us know so your direct debit payments continue to draw. Please call us on 1300 368 908, 8am to 7pm (Sydney time) Monday to Friday, or email leasingcustomerservice@macquarie.com to discuss this.
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What can I do on YourLease?
With YourLease, you can access and manage your loan account details online anytime, anywhere. With YourLease, you can:
- view account information - including details about your upcoming payment, loan balance, interest rate (for Consumer Loans only) and manual payment details
- update your details - including your personal information and direct debit details
- request various documents - a full list of documents can be found here. You may also download a copy of your payment history and a payout letter instantly.
Once you've logged in, select the required information from the main menu (shown below).
For example, if you would like a payout quote, select the payout quote icon and it will take you to the screen below. Here you may request a payout figure and download a payout letter instantly.
What fees apply on establishment of a Macquarie car loan?
The following fees apply to car loans on establishment when you apply directly through us:
Our car loan fees | Amount |
Establishment fee | $350 |
Monthly account keeping fee | $8.25 |
Personal Property Securities Register (PPSR) fee (Applicable to Consumer Loans Only) | $6 |
Note: You have the option to pay both the Establishment fee and PPSR fee upfront or have these consolidated into your loan payments as part of the amount financed.
For more help and support topics, visit Macquarie Help Centre
With YourLease, you can access and manage your loan account details online anytime, anywhere. |
Get fast answers to all your questions online via our Help Centre. |