Macquarie Bank car loan repayment calculator

Thinking about taking out a car loan with Macquarie Bank? Use our car loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Macquarie Bank car loans compare with other options.

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at interest rate 6.42 %

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Pros and cons

Pros and cons
  • Application turnaround in as little as 24 hours
  • No early repayment fees
  • Loans for new and used cars available
  • Establishment fee charged
  • Monthly fee charged
  • Higher interest rate for older cars

Macquarie Bank car loans rates

Advertised Rate
Comparison Rate*
Monthly repayment
Upfront Fee
Loan amount
Total repayments
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Macquarie Bank



$10k to $250k

Macquarie Bank
More details




Macquarie Bank



$10k to $250k

Macquarie Bank
More details




Macquarie Bank



$10k to $250k

Macquarie Bank
More details




Macquarie Bank



$10k to $250k

Macquarie Bank
More details

Features of a Macquarie Bank car loan

Macquarie Bank provides secured car loans suitable for car purchasers looking for a new and used vehicles. This bank particularly suits borrowers who prefer a lender that can offer extra services.

You can borrow between $10,000 and $250,000 and pay it off over a maximum loan term of seven years.

Macquarie Bank charges a one-off establishment fee on its car loans, as well as a monthly fee. But you can pay off your loan early without being penalised. Borrowers can choose to reduce their regular repayments by paying a one-off lump sum at the end of the loan. This is known as a ‘balloon payment’.

This lender tailors its car loan rates according to your financial situation and credit history. But as it is a big bank, its rates may not be the lowest on the market.

Macquarie Bank car loans – customer service

Customers can contact Macquarie Bank by phone, or make an online enquiry. Macquarie Bank’s phone line is in operation from 9am to 5pm (AEST/ADST) on weekdays.

Who is eligible for a Macquarie Bank car loan?

  • Must be over the age of 18
  • Must be a permanent resident of Australia

How to apply for a Macquarie Bank car loan?

You can get an indicative quote from Macquarie Bank and apply for a car loan through their website. Applications may be processed in as little as 24 hours.

  1. Go to Macquarie Car Loans.
  2. Select ‘Get a tailored quote’.
  3. Review your indicative quote and repayment.
  4. If you’re happy with it, fill in and submit an application. Or you may come back to the quote within five days.
  5. You will be contacted through email and phone by a dedicated finance specialist.

Alternatively, you can give them a call to speak with a car loan specialist.

Macquarie Bank car loans review

Macquarie Bank provides borrowers a range of tailored car loans. Customers can borrow between $10,000 and $250,000, with a maximum term of seven years.

Macquarie Bank charges several fees, including an establishment fee and monthly fees. However, customers can pay their loan early without penalty.

Borrowers may find Macquarie Bank appealing if they prefer a lender with extra services. For example, car buying specialists at Macquarie Bank may be able to negotiate on your behalf, book test drives and, if you are trading in, help you get your vehicle valued.

The interest rate you can get at Macquarie Bank may vary. This lender tailors its rates according to the customer’s financial situation. This means those with better credit histories and/or a property may be eligible for a better interest rate, while borrowers with poorer credit histories and/or no property may face a higher interest rate.

If you’re looking for the best car loan for you, it’s worthwhile to compare interest rates and features from several different lenders.

Learn more about Macquarie Bank

Can I get a no credit check car loan?

You may be able to get a no credit check car loan in certain circumstances, although it’s important to weigh up your options before doing so.

Most lenders refuse to provide no credit check car loans, because they don’t want to give loans to borrowers without first confirming that they have a track record of repaying debts. So any lenders that do provide no credit check car loans would take measures to protect themselves against the risk of default.

That’s why no credit check car loans have higher interest rates than other car loans. Also, borrowers often have to provide security and put down a larger deposit.

What is salary packaging?

Salary packaging is an arrangement you can make with your employer that can allow you to buy a car from your pre-tax salary. The advantage of salary packaging is that it will redue your taxable income.

How much is your car worth?

If you already own a car, you could potentially bring down the cost by selling your car in the process. Before that happens, though, you’ll need to find out how much your car is worth.

One of the first places to find this value is to research the value of your current car, giving you an idea of roughly how much it’s worth in its peak condition.

There are plenty of websites that offer a free online valuation, allowing you to enter your car’s make, model, year, badge and description, with results listing a price guide based on both selling your car privately and through a dealership.

Of course, dealerships will try to profit on your trade-in by buying it for less than they can sell it, making it highly unlikely that you’ll get the same price selling a car to a dealer as you would selling a car privately.

However, private car sales can be costly and can take months to sell, making car trading more convenient with a guaranteed return, even if you may not be able to realise the total value of your car’s worth.

Remember that everything is negotiable. If the dealership is offering you less for your trade than you wanted, try to negotiate elsewhere to gain that money back. Start by negotiating on the price of the trade and then ask them if they can give you a further discount on your new car.

How much can I get towards a new car as a single parent?

It really depends on your financial circumstances as to how much a lender will grant you towards a new car as a single parent. With most lenders, the smaller the loan you apply for, the higher your chances are of approval, so getting a cheaper car or adding some savings of your own, may be a valid option if you are struggling for approval on a car loan.

Can I get a car loan if I am on disability benefit?

Yes, there are some lenders who will consider your application if you are on a disability pension. As long as you have an income, usually of over $400 a week, there are lenders that are willing to supply you with a loan.

There are also micro-financing charitable organisations that provide low interest loans for people on low incomes for certain necessary amenities, such as cars, if they match the specified criteria.

What is the luxury car tax?

The federal government imposes a luxury car tax of 33 per cent on the value of a car above a threshold. As of the 2017-18 financial year, that threshold was $75,526 for fuel-efficient vehicles and $65,094 for other vehicles. So a fuel-efficient car worth $80,000 would be taxed only on the difference between the threshold and the value of the car ($4,474), rather than taxed on the entire $80,000. Similarly, an ordinary car worth $70,000 would be taxed on the $4,906 above the threshold, rather than the entire $70,000. The luxury car tax is paid by dealers that sell or import luxury cars, and also by individuals who import luxury cars.

What is a chattel mortgage?

A chattel mortgage is a mortgage on a movable item. In the case of a car loan, the chattel is the vehicle. The lender maintains a mortgage over the chattel/vehicle until the loan is fully repaid.

What is a finance broker?

Finance brokers help borrowers organise car loans with lenders – that is, they act as middlemen between borrowers and lenders. While lenders will only recommend their own products, finance brokers recommend products from a range of lenders. Finance brokers need to be accredited with a lender to do business with that lender; a typical broker will be accredited with between 10 and 30 lenders. Finance brokers generally don’t charge consumers; instead, they receive commission payments from lenders.

What is a redraw facility?

A redraw facility allows you to re-borrow any funds you may have repaid ahead of schedule – although conditions and fees often apply. Not all car loans come with a redraw facility.

What is a dealership?

A dealership is a car yard or a place where cars are sold.

What is a pink slip?

A pink slip is another name for the safety check that needs to be done before a car owner can renew the vehicle’s registration.

Can I get car finance on a pension?


Yes, as long as you meet basic criteria set out by lenders you are eligible for car finance. Your interest rate will be determined based on your financial history which can be found in your credit report, your income and any property you may own.

Comparing car loans for pensioners before you settle on one is important though, if you want to secure the best possible loan for your circumstances.

How much can I get towards a new car as a single parent?

It really depends on your financial circumstances as to how much a lender will grant you towards a new car as a single parent. With most lenders, the smaller the loan you apply for, the higher your chances are of approval, so getting a cheaper car or adding some savings of your own, may be a valid option if you are struggling for approval on a car loan.

What is trade-in value?

The trade-in value is the price you could realistically charge if you were to sell your car to a dealer while buying a replacement vehicle. Generally, a car’s trade-in value is less than its market value. That’s because the dealer has no interest in buying your car unless it can make a profit – which can only be done if the dealer has room to increase the price.

What is vehicle finance?

Vehicle finance, also known as a car loan, is money that a consumer borrows with the express purpose of buying a vehicle, such as a car, motorbike, van, truck or campervan. Vehicle finance can be used for both new and used vehicles.