Would avoid at all costs. My previous car loan was transferred from Esanda. I am in the market to purchase a new car. I spoke with Macquarie who said a new loan shouldn’t be an issue as I was a great customer with them and no issues at all. I started the application process. I was told I would have an answer within 24 hours. I applied Thursday afternoon. I called Monday lunch time for an update and apparently there was only one person I could talk to who was at lunch, so I followed up again the following morning. I listed ‘boarding’ on my application as my name is not on the mortgage. They wanted to confirm my partners income, mortgage and expenses. I was advised that because we are ‘defacto’ I would be responsible for mortgage repayments if he stopped working. Although, I am not on the mortgage they still wanted to see all of his documents including tax returns. My partner was not going to be on the loan, or was not going to be listed as guarantor (he had nothing to do with the loan). They were making assumptions on what might happen. Both of us have never been without work for the last 10+ years and no defaults so I’m not sure why they were making scenarios of what could happen, even though I am not financially liable for the mortgage! I work in lending myself so know how the process works. I understand all finance companies are different, but they aren’t that different. The guy I spoke to said boarding is only when you’re renting a room in a house. He didn’t think it was anyone that was not on a lease or mortgage in a property. I was also paying my previous loan for at least 12 months at the same address. They needed way too much information from someone who wasn’t going to be part of the loan, and it’s so unnecessary for a SECURED car loan. There is a reason why loans are secured.... I rang Westpac straight away. The gentleman I spoke with was much nicer and said they would never ask that from someone who is not going to be on the loan. I am glad I learnt about their horrible service before getting a loan. I didn’t get to experience their service on my last loan due to their incompetency. I spoke with them for the very first time when I was ready to pay my loan out. My phone number and email address have been the same for more than 10 years, but they didn’t have any of my details correct on their system.
Always on time and ahead with payments as soon as a payment needs to be delayed it’s a massive problem forget sending emails they are ignored completely continue to take payment regardless of your requests
Constant harassing phone calls, zero understanding of customer hardships.
My loan was transferred to this company, from Essanda finance. I got the loan for my son to get a car, he fell behind on repayments and now, even though the loan is not due to be finalized for another 8 months, they are saying that the full amount is in arrears! Never had so much trouble with loan sharks in my life, and I have had several loans. When u speak to them they bully you into making payments you cant afford, and treat you like some type of criminal. Zero understanding nor compassion of peoples situations. Would not recommend them to anybody ever. I was not even informed that they were taking over the loan until a few weeks after the transfer had occurred.
Judgemental uncompassionate and rude
I have had a car loan with this company for approx 3.5 years .. And paid back the principal .. I have fallen on some low financial situations over the last two years now on one wage.. I have fallen behind now with $1400 arrears but paid regularly for the last month and now with threats to take my car which I need to go to work .. I spoke to an absolute bully in collections who lectured and talked all over the top of me .. he said if I did not come up with $775 the next day they would take the car .. He was disgusting and got me so upset while I was driving to a night shift .. I said I would pay $250 a week my payments being $179 !and he said it was not enough .. The final offer was $392 a week until the end of March or they would start proceedings .. This is the sort of financial company you are dealing with .. no empathy and belittling to their customers .. He has not confirmed the new payment in writing .. it leaves me on the poverty line now
Glad I didn’t sign on the dotted line.
Definitely some hidden fees, I’m glad I never signed paperwork even though I was pressured to by financier saying someone else was interested in the car and if I didn’t sign car would remain on the market, which Did not phase me as I had not yet physically viewed vehicle was only viewed by photos. I asked if financier could provide the estimated loan calculations as I wanted to see the numbers he sent an email with typed numbers not a proper document. Anyways tonight I thought I’d check my credit ratings only to find they had financed me for 20,480.00 when the vehicle I was interested in was 15,000 not to sure how the price jumped 5,000,definitely investigate more before applying for finance through this company. Definitely apply for finance through your bank at least you are being financed for the amount you apply for no hidden fees just interest.
Great service, easy to work with
Surprised by all the negative comments here. I've had two leases with Macquarie and am very happy. First loan they gave me thousands of Qantas FF Points as part of a promotion. Made transactions simple and easy. Transfer of loan was pretty easy as well when it came to selling the car. Although I preferred the first account manager who was really on the ball, I am happy with my current account manager and will give him my business when it comes to buying a new car.
Terrible! If you have another option, please go with it
They let you get behind on payments and don’t give you options to catch up on manageable terms. I started with a used car through this company in January 2018. All started well. But then over the year I had several things happen which meant I got a bit behind on the repayments.
Firstly when you start dropping behind they don’t say anything. When they said something several months later, my application for special assistance was declined.
I’m now finding it difficult to pay the overdue amount that they let me get so far in to and I only have a short time to do it!
Please, if you have another option, go with it.
Quick and easy fix
May not have been the hardest enquiry to do, although I'm sure other companies would have had trouble. Had a lease with them for the past 2 years and never set up the online account. Wanted to know how much my payout would be. Took less than 5 minutes to set up the account and get login details.
They're pretty typical lenders. They're con-artists and they treat you like a bum. They offer unrealistic rates and you feel forced to accept. Paying out previous finance in full and early also doesn't count towards them treating you more fairly. Unfortunately most car dealers use them, but it's far better to get finance or a personal loan somehwere else. Most banks will give you far better deals.
Absolutely Terrible wanted to charge 600$ to change the name on the account to my wife
Absolutely Terrible wanted to charge 600$ to change the name on the account to my wife with no wriggle room coming up to end of the lease. I will definitely not renew.
Terrible customer service that treats you like a deadbeat
Call up to change your bank details for direct debit. Receive pathetic customer service that treats you with suspicion, seeking details of why.
Tried to get them to do a final direct debit from old account before changing to the new account for future payments. Their system couldn't handle that. Absolutely ridiculous.
Poor service, not upfront with all the conditions
I had a lease through Macquarie and this was initially novated through my employer. At the time of taking this out I was told if I left that employer I could continue to pay the lease directly for the same amount. What they didn't tell me was that if I did a direct lease I lost all of the other benefits e g maintenance, fuel, insurance. Therefore the cost of the direct lease was ridiculously high and I had to then go back to insuring the vehicle myself and paying for all maintenance and running costs directly.
I was also told when I took out the lease, that I could finalise it early by paying out the remaining value of the car. They didn't explain this value included all of the interest payments that I would have had to make over the life of the lease. So paying out early is actually no advantage. When I had initially asked about the payout figure on the car they gave me a figure of around 32 k but said they would only give me the final figure when I actually was ready to pay it out. When I rang them on the day that I had finalised a new loan they told me I owed 54 k which was more than the value of the car when it was brand new!
When I tried to novate the car with my new employer who was happy to do it, Macquarie said that there were additional fees outstanding on my account and until they were paid I couldn't novate with the new employer. I disputed these additional fees and despite showing evidence that I did not owe it they refused to take it off of the account. Basically they have said that if it's on the account I owe it and that's that.
I put in a formal complaint in writing which they did not respond to several times before I eventually got through to somebody who had a look at the complaint. I went through multiple phone calls to review the information and sent him more information etc. Their supposed complaints process is really just getting another officer who reports to the same people, to review it. I have now got this with both a lawyer and the Financial Services Ombudsman.
In almost every phone call that I have had, the person has been at best dismissive and disinterested and commonly downright rude, condescending and unhelpful. Never again!
My loan was with Esanda until they sold it to Macquarie leasing. Never had any problems with Esanda always helpful. Macquarie have always been so rude every time I have called and left at the end of the phone call like I had gotten no where. Worst customer service and so rude!!
Hidden fees ( they used percentage talk not the amount)
Brought my first car and surprised with the Residual amount I need to pay out later. which they did not informed me at the beginning. I brought the car $18000 and made a 3 years repayment contract. 3 years was due, and I was informed that I have $19000 to pay out if i chose to have the car for me. Surprise
Definitely not impressed with this company
Regrettably I signed a lease for a Hyundai Veloster from a local dealership. Finance was arranged through Macquarie Leasing... What a disappointment! Every interaction with Macquarie Leasing has resulted in poor service and huge expenditure. I've contacted Macquarie Leasing by phone, the first time was a young female who had an air of arrogance and the second time I spoke to a young man with an Asian accent. Regrettably, I couldn't understand every second word he said. After maybe 15-20 minutes trying to get my message across he said he would transfer the call to someone else, then he hung up! Good service? ... Definitely not!, more like disgraceful !!!
Warning: Did not disclose origination fees upfront!
Be careful of this lender. They did not disclose fees upfront and was shocked to find out that I had to pay an extra $990 for car dealership origination fees. This is unethical and illegal practice. I was lucky that my excellent car sales person resolved the issue for me.
Too slow and keep coming back
(can't find 0 stars to give them)
My Mrs (without any previous loan or credit card) applied for a car finance through our used car dealer, Macquarie kept coming back for things which they could have found themselves on the provided paperwork! At the end (where we had it enough) they wanted me to become her co-borrower.
We asked our dealer to process our loan through other institution. After reading all the comments and reviews here We are feeling lucky that we withdrew our application and as well as feeling sorry for people who have been burned by Macquarie.
I originally signed up with Macquarie for a novated lease on a car. My circumstances and employment changed during the novated lease and I then changed my contract with Macquarie as a personal loan. They have been user friendly from the day of inception to the finalisation of my account. I would use them again definitely.
Worst financial company ever.
Zero out of ten. I had a car loan with Macquarie as Holden uses them as their default finance company. Honestly they are terrible, way too many fees, poor customer service. Stay clear.
Really Bad Service
Hi had a car loan with Macquarie Leasing and I settled it in full. However, I am trying to sell my car, and they have not cleared up the finance on it yet.
When I called they say it is all cleared up. I requested for a letter from them stating this (where I wanted to sell my car) so the buyer needs to know, that there is no finance on the car. They said, it will take 03 business days to send me the letter via email. On the 03rd day, I called them again to make sure I receive the letter. The Customer Service agent said, it will be sent out to me within the closing day of business. I never received it :(. I called them again today morning (04th day), and the agent said, it will be sent to me within two hours. But I never received it. I called them again, to see they have not done anything yet. Based on the Customer Service Agent, it seems that they have received all the funds, but the finance has not been cleared yet. I requested them to direct debit it from my account the full outstanding payment (payout), which was taken out from my account on the 30th of April 2018. One full month has gone and they have not done their job to clear it out.
Me as a customer, has made all payments one time. Is this how you treat your customers Macquarie Leasing. Does this what you call Quality of Service??
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