While it may not be as well known as the Big Four in Australia, that doesn’t mean Macquarie doesn’t have plenty to offer. With an array of home loans and vehicle loans, bank accounts, credit cards and investments, Macquarie provides a diverse range of financial services within the global market.
Opening its doors in 1969, the Sydney-based operation then known as Hill Samuel Australia had just three members of staff, and an ambition to provide the highest standard of advisory and investment banking services across Australia.
Today, Macquarie operates in 27 countries around the world. It has won awards for value on its personal banking products, it has won hearts by not charging fees at ATMs throughout Australia, and it has won many a customer over with its focus on technology, offering smart banking tools and intuitive banking apps.
And its car loans? Macquarie sets itself apart from the competition by offering quality service and innovative financial solutions. When it comes to its car loans, that idea of service and solutions certainly shines through. Let’s take a look at what’s on offer.
Macquarie car loan finance options
First up, let’s cover the basics. With a Macquarie car loan, you could borrow $10,000 to $250,000, depending on your circumstances. If you’re looking to buy a car that is on the more expensive end of the scale, this loan could be for you – although you’ll need to be approved for that higher amount first, of course.
You can choose to repay the loan over a period of one to seven years, with flexible payment options that allow for repayments to be made weekly, fortnightly or monthly. It’s also worth bearing in mind that Macquarie allows you to finance your stamp duty, allowing you to avoid those upfront costs.
As for fees, yes, pretty much all car financing comes with fees. Taking out a car loan with Macquarie will mean you pay an establishment fee and a monthly service fee, so make sure you take that into account when comparing the cost of this loan against other options.
New Car or Used Car?
Macquarie offers a range of services depending on whether you are buying a new car or a used car. If you’re planning on buying new, you can take advantage of Macquarie Vehicle Select, Macquarie’s car buying service.
This provides you with the expertise and negotiating power of Macquarie’s team of car buying specialists, who can work with you to find, compare and buy your new car. This can save you time – and can often save you money, as they negotiate a better deal with the dealership.
If you’re buying used, Macquarie can offer you a secured car loan, with helpful guidance as you progress through the car buying process. Macquarie’s team again works to save you time, dealing with the seller, and requesting paperwork to reduce the chances of you taking home a lemon.
Is a secured loan right for you? With a secured loan, the lender can enjoy greater security with the car as collateral. This can allow the lender to offer lower interest rates on the loan, which can help you save money on interest over the life of the loan.
Talking of interest, how much interest will you be paying on your Macquarie car loan? When it comes to calculating interest, Macquarie takes on board a number of factors. So, when you apply with Macquarie, you will be provided a tailored quote, customised specifically to you.
Features and Benefits
When you are approved for financing with Macquarie, you may be able to take advantage of a number of benefits. For Qantas Frequent Flyers, perhaps the biggest advantage comes with the opportunity to earn 1 Qantas Point for every $1 financed, up to 100,000 points.
Macquarie also offers a range of convenient insurance options that can be financed under your loan. Plus, you can enjoy online account management using Macquarie’s YourLease.
Add to that the services of Macquarie Vehicle Select for new car sales, and the personalised service you can expect from quote to settlement, and you can see Macquarie really does have a lot to offer.