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Macquarie Leasing Car Loan & Vehicle Finance

Macquarie Leasing Car Loan & Vehicle Finance

1.6 from 50 reviews

See the Best Car Loans in 2019 as rated by Australians on ProductReview.com.au.


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.

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Customer Service
Loan TypeFixed Rate

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.

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Loan TypeLine of Credit
Loan Start DateFebruary 2019

Avoid avoid avoid

I have started a new job and I'm six weeks in now. Still can't organise for payment to be made. They won't take credit card either to fix up payments.

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Loan TypeLine of Credit
Car ModelToyota Kluger GSU50R

No customer service

From day of signing the loan papers no schedule provided. Six phone calls and a month later after speaking with a manager got the schedule
Loan now paid off but again 3 calls later still no final receipt. Wow

Customer Service

Little hard to get help on the phone

I had to wait a month for my loan to finalise and my bank put wrong account number on payout of loan that didn't help the cause, but they got it sorted and happy now...


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 outrageously useless, a payment was not made and then Macquarie started calling me to ask for payment! But they hadn't sent the invoice to the new lease company so their payments could not be made! Then they insisted that I make this payment out of pocket, even though they would have been paid on time if they'd generated just one simple document. Macquarie then proceeded to harass me with daily calls asking for payment (even though the payment was only 1 week overdue) and I had explain the situation to a new person everyday. This issue remains unresolved with no end in sight.
Stay away from them - they will ruin your life!

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Loan TypeSplit

Absolutely Terrible! worse access to your statements. Poor customer service and too high an interest rate.

sit on phone for ages to get access to customer service. non polite,
website will not allow me to access my account ever. keeps coming up with system error.
quick to react if payment is late. (denied payment because i couldnt get access to services and to make contact).
No Care for customers.

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Loan TypeFixed Rate
Car ModelFord Ranger PK (2009-2011)

So rude

They are the worst people to talk too, they talk down to you. They thing that they are god and can destroy your life when ever they want. So stay away from this company as they are not worth a piece of crap

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Loan Start DateJuly 2015

Avoid like the plague!

Avoid these criminals like you would the plague. My lease was taken over by Macquarie, and it was the worst thing that could have happened. The customer service staff mean well, but this business is incompetent, thieving, and will do anything to delay a resolution in an attempt to squeeze more money out of you.
So what went wrong?

*I called 3 times (and filled in a form) to update banking details for where my direct debit was being taken. I wisely chose to manually pay my repayments- To this day, they still try to take payments from a closed account- despite repayments already having been paid, and despite the fact that the loan was paid out over 3 months ago.

* I paid my lease off early, in a bulk sum, based on a payout figure generated online 14 minutes before making the bank transfer. A week after making a prior payment to the same account successfully, Macquarie advised me that my payment of over $2000 had “bounced” (from a savings account), and that I needed to speak to my bank. My bank engaged in also 3 months of investigations into the now missing money (the delay because of Macquarie), to discover that Macquarie had essentially lost the funds.

* Macquarie ended up being forced to accept responsibility and magically “found” the funds but then tried to claim that they could not close the account as they believed the payout figure was wrong and that payments had defaulted (see point number one). The payment they tried to claim had defaulted was 2 days after I’d paid the account out in full.

* I have had 3 different customer service staff attempt to claim the above, despite the fact I have the receipt from the payment, stating the time and date of the payment made.

* it’s taken over half a dozen calls to resolve the issue, and after being told a fortnight ago that I was indeed right, and the account had been paid in full and closed, I received yet another call to say that the old issue had reared its ugly head and they wouldn’t close it until they received the alleged defaulted payment.

*today, it has taken the threat of taking the matter to the financial ombudsman and the request that all correspondence from here on in is via email and not phone call but they have dropped their lie and sent an email within minutes advising that the loan was paid out in full and closed.

Don’t screw yourself over by going near Macquarie. If you’re unlucky enough to be with them, please make sure every interaction you have with them is by email to that you have a paper trail of all correspondence- they will conveniently not record vital information from your phone calls and you’ll find yourself explaining the same story over and over, and having subsequent service staff telling you totally contradictory things. Cover your butt, because trust me, they’ll screw you if they can.

Go screw yourself Macquarie. You deserve to be investigated and dragged over the coals for what you’re doing to people. Unscrupulous, unethical, and criminal.

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Loan TypeFixed Rate

Horrible company they need to be audited

They ring and ring and ring asking for the wrong person. Wrong phone number. They call every member of your family to get a number. Lazy and after easy money.

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The worst company I have ever dealt with

Worst company I have ever dealt with.Disgraceful. I applied for hardship as I am unable to work due to illness and forced onto Centerlink payments. They rejected my application and without telling me began direct debits again that sucked my account and left me with nothing ! After a massive fight they agreed to refund 1 payment and now they have given my 3 days to prove to them that I can resume full payments within 3 months or I will be forced to sell the car and payout the loan. All the time they were threatening me with how this will affect my credit score. I'm sure they don't even have a hardship team or care. All Macquarie are interested in is profit and I have had nothing but bad experiences with them. I'm now considering the financial Ombudsman. Thanks for all the stress Macquarie while i'm ill and trying to recover. Never ever go with this company. G.Jambon

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Ruined my life

Customer service is terrible.
I started my loan paying $128.94 fortnightly (this information is important to know)
It all started with a lump sum of $4,000 2 years ago to obviously get this loan paid off faster. So they illegally stopped charging my monthly set up payment because I was now in “credit”. They did not accept a payment off me for 18 months, over this time I accumulated hundreds of dollars worth of “debit fees” even though no payment was being made. How does one receive a debit fee when no debit or credit or any payment for that matter are being processed.
Not once have I received a statement from them. Which is actually illegal.
After speaking with a case worker to remove these debit fees because they were immoral they refused.
So we decided to jack my fortnightly payment up to $1,300 ... $2,600 p/ month.
To get this crap paid off faster.
This morning I wake up to a text saying I didn’t make my payment of $128.95 payment and now will receive a $20.00 dishonestly fee. This was changed months ago when we discussed with them a change from $128.94 to $1,300 p/ fortnight to pay off faster. They didn’t remove the old direct debit scheduled payment.
The money stealing con artists received $1,300 off me only 7 days ago.
And I apparently owe a dishonour fee. Get crapped. This company makes me sick, I bought my car second hand via Mazda and they suggested I use Maquarie leasing... I trusted them as Mazda is obviously a well known large organisation. My last thought was that they would suggest a company so dirty like this to me.
I have been absolutely robbed and played. I agree with the review below absolute crap.

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Absolute maggots

Was behind $1000 tries to make an arrangement to pay them amd the dog in collections was a maggot. They sent out the debt collecting goons to my house to try and be a stand over hero. Called the boys and i tell you that's the last time they would send the debt collectors out.

Would never get another car through them.....

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Loan TypeFixed Rate
Loan Start DateJanuary 2017
Car ModelVolkswagen Polo AW

Awful Service!

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.

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Timeliness
Loan TypeFixed Rate

Poor treatment

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.

Customer Service

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

Customer Service

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.


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Questions & Answers

Hi Team I have just got my finance going with Macquarie leasing and now I would like to terminate my finance with your company .. So what do you need from me and what are the extra cost penalty for cancelling the on going contract .... As I got cheated by the car finance manager as He mentioned to me to give interest rate low but... in the end 12.88percent.. Just like ripping me off I had put money into this deal with $8000 $$$$ deposit for down payment.. And I had lodge my complaint to one of you members but soooo far .. There is no body tried to give some feedback.. So Now if I want to terminate my finance What are the cost of the money that I had to paid and the the penalty amount for cancellation early before the terms finish.. Thanks Harianto H
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payout figure
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Hi i am currently halfway through my car loan. Is it possible to trade this vehicle in for another on finace as we are expecting a baby and need a bigger car. Thank you
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