- Verified customer
Sharks stay away! Worst bank to deal with.
Worst people to deal with! Extremely unhelpful and rude. I ask for assistance over and over again for extensions and other payment options, all I got in return was rude unhelpful responses. They are absolute sharks! They will rob you blind do use their business be warned...
Listen to my sad tale of financial woe, so you don't make the same mistakes I did!
I originally purchased a small, brand new Japanese car through my employer, back in 2016 via salary sacrificing. A few months later in 2017, I lost my job and had to take over the lease of the vehicle, which was transferred to McQuarrie Leasing. Because I purchased the vehicle originally via novated leasing, I was not entitled to an online account, and since that time, have not received even one single statement from M.L. Requested emails don't arrive and the only way I can find out what I currently owe, is by ringing. This is a lesson in patie...nce in itself. I have had staff speaking to me on the phone that barely comprehend English, long wait times, constant requests for the same ID information over and over again and payout figures that wait for it ( are subject to change) on a daily basis! I am now in a position to pay out the remaining amount in full (My bank has come to the rescue in the form of a consolidation loan, plus I have come into some other monies as well) so as soon as I can, (e.g. first thing Monday Morning) I am paying out this loan. Honestly, from a financial point of view, it is one of the worst things I have ever done, but I take solace in the fact that we learn from our mistakes. The car I purchased back in 2016 for the RRP of $19,990.00 (at that time) has ended up costing me a total of $31,000.00! It wasn't worth anywhere near that, when it was brand new. (Don't get me wrong, its actually a lovely little car and hasn't let me down,, since I purchased it) so that is something positive, I pull out of this whole mess. I say a little prayer, that I am at an age and am in a good enough financial position, to pay off (ALL) of my debts at this point in time. But just a word of warning, look really carefully at Novated Leasing and at Who is (BEHIND) the leasing of your car (e.g. in this instance Macquarie Leasing) The fees and charges that come with this form of purchase are often hidden and or added on without your knowing.
Worst 4 years of my life.
Horrible customer service. Incorrect payout figures. Fees for obtaining a payout figure. Inconsistent advice from different representatives. Avoid at all costs! Phone lines were confusing and misleading. Also if you ask for an email detailing why you didn't get a refund, you can't as it breachs their protocol.
AVOID AVOID AVOID
Every dealing with Macquarie Leasing has just been dreadful! Poor customer service, lack empathy, condescending and just plain rude. One male spoke so disgusting to me that he should have been fired if his superior's had heard the conversation. Just awful. 0 stars not 1 star. DO NOT RECOMMEND.
Shady and massive time waster - don’t get sucked in by the low % promise
Murky processes, hard to reach and inconsistent - had approval / deposited on car and then silence for 5 business days? I’ve been told by others, the statements are also once a year if lucky. Now seeking alternate finance.
What an experience
Worst customer service ever. These people have no idea what they're doing or any ambition to assist you. One time it took them 45 minutes to tell me how much interest I was paying. This was after they tried to tell me that I had to ask a company I hadn't worked for for 12 months that had nothing to do with my car anymore. They will do anything they can to avoid telling you an exact answer to any question. It takes them close to a week to return an email and 48 hours plus to send you a document you request. Don't even bother with me. You're better off to sell a kidney than deal with this incompetent company
Declined without any reason and st georges acepted my car loan
Macquarie declined my Car loan application without giving any reason whatsoever. It will be good if companies let you know the reason on basis they decide. Broker then applied with St george bank and got approved within 24 hours.
A Macquarie Leasing Loan is costly !
I regret taking a loan from Macquarie Leasing. This loan is costly with lots of add-on costs (admin fees, $1000 establishment fees, interest etc). The App doesn't show the balance of the debt. It's hard to warn people off because they get the loan from other company e.g. Broli Finance, so you will never know it's Macquarie Leasing, and therefore you are unable to research the company.
Don't do it...….
I was young when i signed up for this car loan and got completely taken advantage of. Multiple hidden fee's, insane interest rate and awful customer service. I once called to change my bank details and home address and about a month later had some debt collector thug calling me and threatening me that he was going to come to my house that day and take the car by force. obviously Macquarie didn't update my details. It was paid in less than 20 minutes and Macquarie apologised. I noticed at the end of my loan that I had been charged over $800 for that thug debt collector and Macquarie just said "oh we don't know what the charge is for, they charge us so we just pass it on to you". Absolute thieves. Don't bother.
Shocking customer service
Cocky customer service based in Manila reading from a script.
Do not deal with these people.
Hidden fees and very poor customer service.
Was advised deferring a payment for one week would impact my credit rating.
Wish I never signed up through them.
Extra Fees for refereal fees and direct debit not setup (even though i have set it up)
Please read the agreement carefully when you dealing with this company so many hidden fees and terrible service charge service fee for everything including the early termination fee it's pretty crap
Avoid if you do not want hassles
My loan was transferred from Esanda and I have not missed any payments. They need a proper system. Every now and then I get accused of not having cash in the bank to serve my debit order. They have now changed my debit order to deduct the instalment before the end of the month. It takes 15 minutes for them to review everything on a phone call and every time the system gets the blame.
Over the Christmas break when I phoned in to confirm there is cash in my account, they transferred me 3 times to confirm there is cash in the bank. I felt like a criminal, although I haven't done anything wrong.
Terrible! Online platform difficult to access and still locked out 6 months later!!!
Leased my car over 6 months ago. Instructed to log on and start a new account so I can review all my payments etc however the account is inaccessible due to constantly being locked out. After repeated calls to the company and having my password constantly reset nothing has changed. My impression is that Macquarie Leasing don't want you to access your account and make extra payments - seems like they are happy to lock you into a contract and extract as much interest out of you as possible. Even promises from company Reps to call back never happen. Will soon be referring this matter to the Ombudsman.
Horrendous. Avoid to preserve your sanity!
1 star is still too many.
I can't even begin to describe the gross incompetence of this company. I had to change novated lease companies because I changed jobs and all I needed from Macquarie was the tax invoice to be sent to the new lease company so they could start making payments - but 6 weeks after originally notifying the previous lease company of the change, Macquarie still hadn't provided the document (which for reasons I still can't fathom, takes at least 3 days to be generated but was never sent). Of course, because they were all outr...
Questions & Answers
How does the calculations work When you do an early payment? Eg loan term 84 mths monthly repayment is $600. The full Loan schedule based on settlement date is $52k. Early payment by 65 months. What is the amount to pay?
Where can I get updated car loan statement?
That depends on who you got the original car loan through. If it was directly with M.L. then they need to provide you with the requested document. If it was with another provider (e.g. your loan originally started out as a novated lease for example) then you need to go back to that source. I hope this information helps you out.
What is included in the payout figure? Do you have the pay the whole loan term of interest if you pay it out early?
I am no expert in finance payouts but from experience, your payout figure can include (but is not limited to) the following;
term of personal loan/lease and or HP arrangement. Amount of original purchased item, (e.g. Car purchased for a total value of $35k using this as an example) the interest rate of the finance, any fines or extra fees incurred for paying out a sum of money early, any balloon payments and how long you have been paying out (e.g. there will be a lower payout figure for a term that is near the end of its arrangement, than a payout that is made earlier. I hope this information helps you out. If you still need assistance you can try ringing a financial counsellor from the National Debt Helpline on 1800-007-007. The service is anonymous and free.