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Macquarie Leasing Car Loan & Vehicle Finance

Macquarie Leasing Car Loan & Vehicle Finance

1.6 from 81 reviews · View Statistics

Reviews

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Yarra1
Yarra1Sydney, NSW
  • 8 reviews
  • 10 likes

Do your research - don't complain about getting what you ordered

published
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Matthew Miller
Matthew MillerGreater Melbourne (Outer), VIC
  • 4 reviews
  • 3 likes

Do not trust

published

I keep asking them for a payout letter and they send it after the expiry of that figure to stop you from being able to pay it out. they have done this 3 times

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0.0
(1,234)

Can't be trusted

published

Have rung to get debit date changed and they don't actually set the change that is agreed. Took about 3 months for the change to actually happen which has caused dishonor fees. Also they had charged twice, not realised then charged a dishonor fee on top.

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john
johnGreater Melbourne (Metropolitan), VIC
  • 4 reviews
  • 5 likes

No issues, easy to use

published

1. Contract with Macquarie via Volvo seemless.
2. Interest rate is fine
3. Contract accuracy fine.

Can't find where I can amend payments on line to fast track pay off of the loan. Only a minor matter.

There are many negative reviews but they don't pin point measurable issues such as contract breaches on behalf of the lender.

I am 24 months into a 48 month consumer loan and they are fine.

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Sanjai Narasimham
Sanjai NarasimhamPerth, WA
  • 2 reviews

After initial struggles I got a interest rate discount. Still may not be the best but helpful to my situation.

published

My hardship application received least consideration initially but on further talk got a rate reduction which is very helpful to me at this situation. So I decided to update my review.

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ATDistinction
ATDistinctionLaunceston, TAS
  • 6 reviews
  • 3 likes

Simple, good value, not a single issue.

published

I purchased a new car in December 2019. I had no issues while getting the finance, the explanation of the T&C was clear, pricing outline (repayments, interest, fees, timing etc) was extremely simple. Reading the other reviews, either they didn't take the time to read or major changes have been made. I recently paid out the car early, no supposes, was exactly what I expected it to be after 1 year. I would recommend, and if I go for another loan I would be happy to go with Macquarie Leasing again. Remember, you NEVER need to take finance without reading their T&C first.

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Terrible customer service

published

I called about car finance after using them for car finance for almost 2 years. They told me someone should get back to me in a week and if i couldnt wait them i should look for car finance elsewhere. Terrible customer service and I will never consider using them again. They dont even deserve one star.

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Timeliness
Incentivised ReviewNo
Jordan O.
Jordan O.Metropolitan Adelaide, SA
  • 2 reviews

I would prefer to give zero stars

published

Their new ad campaign says 'we reward good borrowers'

However in reality it should be 'we punish people who are in extreme hardship with prejudice because we don't care about you deadbeats'

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Phil
PhilAdelaide
  • 4 reviews
  • 4 likes

Customer service, payout figure, phone service

published

Just another evil bunch that cannot be trusted. The worst customer service. Probably worse than Telstra. Deceitful liar’s that take advantage of you. Do yourself a favour and go elsewhere.

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Worst experience dealing with them stay away

published

It took them two week to recieve thier decision, they asked for many details for many times and they done a credit check with no reason. Even before I submit an application I asked about my situation and I have been told it is all good, then it turns out it is not. No transperancy no rules. I would never deal with them again.

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  • Verified

Tell you that you owe no money, Then Take You To Court!

published

Shockingly bad. I have in writing from two employees no money owed then taken to court an due to Macquarie mistakes and extra £800 charges added. Avoid like covid 19

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Bad admin, poor customer service, stay away from Your Lease

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Really the worst ever. Perhaps worse than com.bank

published
Incentivised ReviewNo
Sims
SimsCobar
  • 2 reviews
  • 1 like

Never want to give me statements!

published
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Anika
Anika
  • 2 reviews
  • 4 likes
  • Verified

CHECK FOR CLASS ACTION

published

They add the full interest to the loan at the start, so you pay all the interest before you start on the capital.
I bought a car new for $28000 after paying $11000 my payout fee is now $28500.
The interest rate (which took me 4 phone calls to get) is 14.18% even though they advertise 7.5% and my bank offered me 6.79%

If you bought your car before Oct 2018 please see if you can join the class action against them related to fees. (it is being done by MauriceBlackburn)

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Page 1 of 6

Questions & Answers

David
Davidasked

How do I get a final statement for the car loan?

1 answer
Yarra1
Yarra1

Best way is to go to yourlease.com.au and register using the register now button. This will give you access to your loan details. Once registered and logged in you will be able to see your loan balance, request an instant pay-out etc. Other information such as the loan contract can be requested from the site but will take a couple of working days to come through. If you get stuck you can call 1800 100 152 (Macquarie Leasing) who should be able to resolve login issues.

Jess
Jessasked

Just wondering we are coming to the end of our lease and have to pay the balloon payment of $16,000 at the end. What happens if we can not come up with that amount can we continue to pay it off, do they take the car, ??? Do we need to get another loan for the same car

3 answers
Yarra1
Yarra1

You have a couple of options. 1 take out a loan for the $16000. 2. Sell the car and pay out the residual. If the car sells for less you will need to make up the difference. 3. You can continue to pay the lease instalments but the balance owed won’t go down probably not a great option. 4. Failing any of this Macquarie can take the vehicle and auction it off. If they get less than $16000 you will still owe the balance. 5. Renegotiate with Macquarie to extend for another year and residual.

Jess
Jess

If we extend for another year what would we need to do? Do we go through another application etc?

Jess
Jess

If we extend for another year what would we need to do? Do we go through another application etc to extend it

Louis Oosthoek
Louis Oosthoekasked

Could you please send me a current statement of my car lease account.
ELN 1979489 in the name of Louis John Oosthoek DOB 17/02/1959.

Car purchased Hyundai I30.

Current email, fifioo2010@hotmail.com

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