To get information about managing your Macquarie car loan repayments first check your account number:
If your car loan account number has 13 digits (XXX-XXXXXXX-XXX), this information relates to you.
Your car loan principal and interest repayment amount is calculated based on the loan amount, loan term, number of repayments, interest rate, and whether you have elected for a balloon payment.
Assuming there are no changes to your loan or interest rate, your repayment amount remains the same each month. Each repayment amount consists of paying back some of your loan (principal) and an interest component. The proportion of principal and interest you pay changes over the term of your loan.
There is no principal and interest breakdown for a novated lease. For further information, please contact your salary packager.
If your car loan repayment due date falls on a weekday, we’ll debit the amount due on the same day. It may not appear in your banking history until 2 business days after.
What if the due date is a weekend or public holiday?
If your repayment due date falls on a weekend or national public holiday, we’ll debit your repayment on the next business day.
This applies even where the next business day is in the next month. For example, if your repayment due date is the 31st of the month, in July 2021 this was a Saturday, so your repayment would’ve been direct debited on the next business day, Monday 2 August 2021.
What if my repayment date doesn’t exist in all months?
Sometimes, your repayment date may be a date that doesn’t exist in all months. In this instance, we’ll debit the repayment on the last calendar day of that month.
If that day is not a business day (i.e. a Saturday, Sunday or national public holiday), your repayment will be direct debited on the next business day. For example:
The easiest way to update your direct debit details is by logging into YourLease.
If you wish to update your direct debit details to a business bank account or are unable to access YourLease, please call us on 02 8550 5666, 9am to 5pm (Sydney time) Monday to Friday.
You may choose to make additional payments on your loan on top of your contractual repayment amount:
If you have a Consumer Loan, and you’d like to make additional payments, it’s important to let us know so your regular direct debit payments continue to draw. Please contact us to discuss this. If you don’t notify us, any additional amounts paid will be used for any upcoming repayments.
Note: You will not have access to any additional payments once paid. Only make additional payments if you are certain that you will not require access to this money.
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If your car loan account number has 9 digits (XXXXXXXXX), this information relates to you.
We will always direct debit your contractual repayment on the repayment due date of each calendar month, irrespective of whether it is a non-business day.
If the day on which your repayment is due is the 29th, 30th or 31st of a month with no such date, your repayment will be due on the last day of that calendar month.
If you have elected a balloon amount, we’ll direct debit this amount as part of your final repayment which also includes a monthly principal and interest repayment.
Your repayment due date is specified in your settlement email and can be found by logging in to Macquarie Online or the Macquarie Mobile Banking app. We also recommend installing Macquarie Authenticator to enhance the safety of accessing your account online.
To update your direct debit details:
Alternatively, you may do this via our app:
You may make additional repayments on your loan on top of your contractual repayments via electronic funds transfer only. That is, if your account has been set up to direct debit $300 per month, any additional repayments will need to be separately electronically transferred into your loan account. You will need to set this up via the paying bank account.
By making additional payments on your car loan, you may reduce the total interest payable over the loan period. Please note that by making additional payments, this could finalise your contract early and substantial break costs may apply (on fixed rate car loans only). You must still continue to make scheduled repayments on the due date until the total amount owing is repaid in full.
Electronic transfer details can be located by logging in to Macquarie Online Banking or the Macquarie Mobile Banking app.
Note: You will not have access to any additional payments once paid. Only make additional payments if you are certain that you will not require access to this money.
Please call us on 02 8550 5686, 9am to 5pm (Sydney time) Monday to Friday to make alternative arrangements. It's important to call us prior to the payment due date so we can stop the payment from being debited, as we can’t prevent payments from debiting on the day they're scheduled.
Where you have had a life event such as loss of employment, medical condition or natural disaster which may impact your ability to meet your regular repayments or some other financial obligation under your loan or lease, please contact us as soon as possible so we can work together to find the right solution for you:
Please electronically transfer in the outstanding amount as soon as possible.
It’s important to make a payment arrangement as soon as possible because your credit report may be impacted. For further information regarding credit reporting, please visit Credit Smart.
Log in to Macquarie Online Banking or the Macquarie Mobile Banking app and chat with a consultant in real time, Monday to Friday, 9am to 5pm Sydney time (excluding public holidays).
Please get in touch as soon as possible so we can work together to find the right solution for you.
Everyone at Macquarie is committed to providing our clients with the highest standard of products and services available. If you have feedback we would like you to tell us about it.
