Start with your account number

To get payout and end of contract information about your Macquarie car loan, first check your account number: 

  • If your car loan account number has 13 digits (XXX-XXXXXXX-XXX), follow these steps. You’ll find your account number in your welcome letter, or by logging into YourLease.
  • If your car loan account number has 9 digits (XXXXXXXXX), follow these steps. You’ll find your account number in your welcome email, or by logging into Macquarie Online Banking. 

Account number has 13 digits

If your car loan account number has 13 digits (XXX-XXXXXXX-XXX), this information relates to you.

Get a payout figure

A payout figure is the total amount required to finalise your contract. To get a payout figure online:

  1. Register and log into your YourLease  account and request a payout figure instantly.
  2. You may also download a Payout Letter which will include payment instructions and important things you need to know if you want to payout your account.

If you have a novated lease, you may not have access to YourLease. Please contact your salary packager for a payout figure.

What your payout figure includes

Please note the calculation for your payout figure depends on your finance type. If you don’t know what your finance type is, please refer to your welcome email, copy of contract or login at YourLease to find out. 

Consumer loan

If you have a consumer loan, your payout figure will include:

  • Principal balance
  • Interest which has accrued daily since your last payment
  • Early termination fee
    • For Consumer loan 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 which has expired.
    • For Consumer loan contracts which commenced after 1 August 2017, this fee will be $750.00 reducing on a pro rata basis for each month of the loan term which has expired, plus a fixed fee of $50.00.
  • Consumer Credit Insurance rebate (if applicable).
  • Any outstanding fees (if applicable).

Once quoted, your payout figure is valid for five calendar days. If you’re intending to payout your contract after the expiry date, you can obtain an updated figure online at YourLease.

Chattel mortgage, finance lease, novated lease or commercial hire purchase

For each of these types of loans, your 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 your 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 payment (if applicable); plus
  • Any fees and charges payable on termination.

Once quoted, your payout figure is valid up until the day before your next monthly payment is due. If you're intending to payout your contract after the expiry date, you can obtain an updated figure online at YourLease.

Novated lease

If you have a novated lease, you may not have access to YourLease. Please contact your salary packager for a payout figure.

What happens when you payout your car loan

Once your final payment has been received and cleared (this can take up to two business days), you’ll receive a Payout Confirmation Letter via email within five business days of the account being finalised. If we don’t have a registered email on file, we’ll issue your letter via post. The PPSR security interest will be removed within five business days from the date of discharge.

After the contract has been finalised, all direct debit payments will cease automatically, so you don’t need to cancel these payments with your bank. Please note, if you’ve set up recurring BPAY® or EFT payments from your bank account, you’ll need to cancel these with your bank.

® Registered to BPAY Pty Ltd ABN 69 079 137 518

Options at the end of your contract

There are several options that may be available to you at the end of your contract.
 

Payout your residual/balloon 

You can payout your balloon or residual value at the end of your contract. 

  • If you have a car loan, please visit YourLease for a payout figure and instructions on how to payout. 
  • If you have a novated lease, please contact your salary packager. 
Refinance and keep your current vehicle 

If your balloon/residual value is greater than $5,000, and your asset is a motor vehicle, you may be able to refinance the vehicle for a further term subject to our approval criteria. Terms, conditions, fees and charges may also apply.  

Who to contact:

  • If your loan has a balloon amount, please contact your broker or visit Macquarie Car Loans to get started. 
  • If your lease has a residual value, please contact your salary packager to get started. If your lease is not salary packaged and you’d like to refinance into a car loan, please visit Macquarie Car Loans.
Upgrade your vehicle

If you’re looking for a new motor vehicle, you may apply for a new finance agreement subject to our approval criteria. 

Our Macquarie Vehicle Select team can help negotiate for a new purchase on your behalf, book test drives and facilitate the trade-in of your existing vehicle. To enquire, please visit Macquarie Car Loans.

Who to contact:

  • If you wish to upgrade into a car loan, please contact your broker or visit Macquarie Car Loans to get started.
  • If you wish to upgrade into a novated lease, please contact your salary packager to get started. 
Trade in your vehicle

If you’re thinking of trading in your vehicle at a dealer, you’ll need to payout your contract. Please read the below to help you facilitate your trade-in.

  1. If you have a car loan, you can download a payout letter online at YourLease. If you have a novated lease, please contact your salary packager. The payout letter will provide the amount required to payout your contract and instructions on how to do so.
  2. Provide this letter to the dealer where you’ll be trading your vehicle in
  3. The dealer will provide you with an agreed trade in price for your vehicle. Normally, the dealer will pay the agreed trade in price towards your payout figure. Sometimes the agreed trade in price may be less than the payout figure required to finalise your contract. If this is the case, you’ll need to make a payment for the difference so your contract can be finalised.
  4. Once the payout figure has been received and cleared, you’ll receive a Payout Confirmation Letter within five business days. The PPSR listing will be removed during this period.
  5. If you’re purchasing a new vehicle from the dealer and you’d like to enquire about a new finance quote, please contact your broker or visit Macquarie Car Loans.
Sell your vehicle privately

If you’re thinking of selling your vehicle, you’ll need to payout your contract. Please read the below to help you facilitate the sale and closure of your contract.

  1. If you have a car loan, you can download a payout letter online at YourLease. If you have a novated lease, please contact your salary packager. The payout letter will provide the amount required to payout your contract and instructions on how to do so.
  2. Once you’ve found a buyer for your vehicle and agreed on a sale price you’ll need to payout your contract. Either you or the buyer can make the transaction using the payment methods outlined in the payout letter. If you sell the vehicle for less than the payout figure, you’ll need to make a payment for the difference between the sale price and the payout figure.
  3. Once the payout figure has been received and cleared, you’ll receive a Payout Confirmation Letter within five business days. The PPSR listing will be removed during this time period.
  4. If you’re purchasing a new vehicle after the sale of your current vehicle, and you’d like to enquire about a new finance quote, please contact your broker or visit Macquarie Car Loans.

Need financial assistance?

If you’re experiencing financial difficulty and can’t payout your balloon or residual value, please contact our Financial Assistance team on 1300 364 050, 9am to 5pm (Sydney time) Monday to Friday or email financialassistance@macquarie.com so we can discuss how we may be able to assist you.

Account number has 9 digits

If your car loan account number has 9 digits (XXXXXXXXX), this information relates to you. 
 

Get a payout figure

A payout figure is the total amount required to finalise your account. You can get a payout figure by emailing carloans@macquarie.com.

What your payout figure includes

A car loan payout figure consists of:

  • Balance
  • Interest accrued up to the payout figure expiry date (5 business days after the payout figure is requested)
  • Account keeping fee (if applicable) up to and including the payout figure expiry date
  • $50 discharge fee
  • Break costs (may apply to fixed rate loans that are terminated early). See below for more.

Break costs on fixed rate car loans

Break costs may be payable if you repay all of a fixed rate loan early. This includes if certain events, including those listed below, occur during the course of your fixed rate loan:

  • Repay your account balance in full (e.g. due to the sale of your car or refinancing to another lender)
  • The amount owing otherwise becomes due and payable in full (e.g. in the case of default).

Fixed rate break costs can be substantial, and change from day to day. If you’d like an estimate of your break cost, please email us at carloans@macquarie.com

What happens when you payout your car loan

Once your final payment has been received and cleared (this can take up to two business days), we will provide you a closing statement within two business days of the account being finalised. The PPSR security interest will be removed within five business days from the date of discharge.

After the loan has been finalised, your direct debit payments will cease automatically. Please note, if you've set up recurring EFT payments from your bank account, you will need to cancel these with your bank. 

Options at the end of your contract

There are several options that may be available to you at the end of your contract.
 

Payout your balloon

You can payout your balloon at the end of your contract. Please email us at carloans@macquarie.com for a payout figure.

Refinance and keep your current vehicle 

If your balloon is greater than $5,000, you may be able to refinance the vehicle for a further term subject to our approval criteria. Terms, conditions, fees and charges may also apply. 

Who to contact:

Upgrade your vehicle 

If you’re looking for a new motor vehicle, you may apply for a new finance agreement subject to our approval criteria. 

Our Macquarie Vehicle Select team can help negotiate for a new purchase on your behalf, book test drives and facilitate the trade-in of your existing vehicle. 

Who to contact:

Trade in my vehicle

If you’re thinking of trading in your vehicle at a dealer, you’ll need to payout your account. Please read below to help you facilitate your trade-in.

  1. Email us at carloans@macquarie.com for a payout letter. The payout letter will provide the amount required to payout your account and instructions on how to do so.
  2. Provide this letter to the dealer where you’ll be trading your vehicle in.
  3. The dealer will provide you with an agreed trade in price for your vehicle. Normally, the dealer will pay the agreed trade in price towards your payout figure. Sometimes the agreed trade in price may be less than the payout figure required to finalise your account. If this is the case, you’ll need to make a payment for the difference so your account can be finalised.
  4. Once the payout figure has been received and cleared, you’ll receive a closing statement within two business days. The PPSR listing will be removed during this period.
  5. If you’re purchasing a new vehicle from the dealer and you’d like to enquire about a new finance quote, please visit Macquarie Car Loans.
Sell my vehicle privately

If you’re thinking of selling your vehicle, you’ll need to payout your account. Please read below to help you facilitate the sale and closure of your account.

  1. Email us at carloans@macquarie.com for a payout letter. The payout letter will provide the amount required to payout your account and instructions on how to do so.
  2. Once you’ve found a buyer for your vehicle and agreed on a sale price, you’ll need to payout your account. Either you or the buyer can make the transaction using the payment methods outlined in the payout letter. If you sell the vehicle for less than the payout figure, you’ll need to make a payment for the difference between the sale price and the payout figure.
  3. Once the payout figure has been received and cleared, you’ll receive a closing statement within two business days. The PPSR listing will be removed during this period.
  4. If you’re thinking of a new purchase after the sale of your current vehicle, and you’d like to enquire about a new finance quote, please visit Macquarie Car Loans.

Need financial assistance?

If you’re experiencing financial difficulty, please contact our Financial Assistance team on 1300 364 050, 9am to 5pm (Sydney time) Monday to Friday or email financialassistance@macquarie.com so we can discuss how we may be able to assist you.

Experiencing financial difficulty?

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