Interest on your car loan

For Consumer loans, you may request a Consumer Loan Statement, which will show all transactions on your car loan, including interest and principal components.

For Commercial accounts (i.e. Chattel Mortgage and Commercial Hire purchase), you may request an Interest Amortisation Schedule. This document shows the breakdown of each payment throughout the loan duration including both interest and principal components. This isn't a payment history or statement of account and therefore doesn't reflect actual payment activity on your account.

To request a Consumer Loan Statement or Interest Amortisation Schedule, please visit YourLease. Once logged in, please select Contract Details, then Request Documents. Here, you’ll be able to request a document that you’ll receive via email.

If your commercial account (i.e. Chattel Mortgage and Commercial Hire Purchase) has had a variation to its payment structure, you may not be able to request an Interest Amortisation Schedule. For interest information, you can request a copy of your contract by emailing leasingcustomerservice@macquarie.com.

If you have a novated lease, you won’t be able to request an Interest Amortisation Schedule as there is no principal & interest breakdown. If your lease is not currently salary packaged, you’ll receive a statement of transactions from us annually. Otherwise, if your lease is currently salary packaged, you can contact your salary packager for a statement of transactions.

You may view the interest rate details of your car loan online. This is currently only available for Consumer loans.

• Register and log into YourLease
• Navigate to the Contract Details screen
• See the Customer Rate field

Chattel Mortgage contracts have not traditionally displayed the annual percentage rate used to calculate the total repayment instalments payable by you. From May 2019, we made changes to our Chattel Mortgage contracts to provide greater transparency around the relevant customer rate and the cost of your Chattel Mortgage.

However, there may be instances where contract documents printed before 2 March 2021 display a customer rate rounded to the nearest 2 decimal places. For example:

• if the rate used to calculate the repayments was 5.433%, the rate displayed on the contract will be 5.43% (rounded to the nearest 2 decimal places)
• if the rate used to calculate the repayments was 5.455%, the rate displayed on the contract will be 5.46% (rounded to the nearest 2 decimal places).

This change does not impact the amount of the repayment instalments specified in your Chattel Mortgage.

Effective from 2 March 2021, changes have been made so that any contracts printed from this date will have a customer rate rounded up to the nearest 2 decimal places displayed on the contract. For example:

• if the rate used to calculate the repayments is 5.433%, the rate displayed on the contract will be 5.44%.

Please note this does not have an impact on your annual percentage rate used to calculate the total repayment instalments under your Chattel Mortgage.

If you have a novated lease, please contact your salary packager for information about your rental rate.

You may have a fixed or variable interest rate car loan.

• Fixed rate car loans have an interest rate that is fixed for the life of the loan.
• Variable rate car loans have an interest rate that can move up or down according to market conditions, which impacts the amount of interest you pay. 

The interest rate type applicable to your loan (either variable or fixed) will remain the same over the entire term of your loan.

Once your car loan settles the rate type cannot be changed.

Interest is calculated on your Account by applying the applicable interest rate to the balance of the Account at the end of each day. The daily interest rate applied is the applicable interest rate divided by 365.

1. Register and log into Macquarie Online
2. Select your car loan account from the account list
3. Click on I want to in the banner near your account nickname (or product name)
4. Select  View interest details in the menu drop-down.

Alternatively, you may do this via our app:

1. Register and log into Macquarie Mobile Banking
2. Select your car loan account from the account list
3. Click on I want to in the banner near your account nickname (or product name) 
4. Select View account interest in the menu drop-down.

1. Register and log into Macquarie Online
2. Select your car loan account from the account list
3. Click on I want to in the banner near your account nickname (or product name)
4. Select View account statements and reports in the menu drop-down
5. Select Financial year’s interest report.

Alternatively, you may do this via our app:

1. Register and log into Macquarie Mobile Banking
2. Select your car loan account from the account list
3. Click on I want to in the banner near your account nickname (or product name) 
4. Select View account reports in the menu drop-down
5. Click on Financial year's interest report
6. Select Car Loan 
7. Click Generate Report.

You may view the interest rate details of your car loan online. This is currently only available for Personal Use car loans.

1. Register and log into Macquarie Online
2. Select your car loan account from the account list
3. Click on I want to in the banner near your account nickname (or product name)
4. Select View interest details in the menu drop-down.

Alternatively, you may do this via our app:

1. Register and log into Macquarie Mobile Banking
2. Select your car loan account from the account list
3. Click on I want to in the banner near your account nickname (or product name) 
4. Scroll to the Interest details section or click on the Interest details link on the left-hand menu.

If you have a car loan on a variable interest rate, your principal and interest repayments will be recalculated when there is an interest rate change. We will contact you letting you know your new interest rate and new repayment amount before it becomes due.

If the variable interest rate changes, we will automatically adjust your direct debit amount to cover your new repayment amount.