Macquarie Car Loan Review

Macquarie charges a variety of fees for their car finance product. As with all Driva lenders, these fees are included in the monthly repayment shown at the time of your instant quote, which is the best point of comparison when deciding which lender to choose when you're looking for a great rate.

These fees include:

• Establishment fees: $449 dealer sale; $600 private sale
• Monthly fees: $8.90
• Early termination fees: $150 flat fee plus $650 pro-rata
• Brokerage fees: dependent on loan size, $2,400 for $30,000 loan

*Last updated 15/04/24

Don't forget that every lender charges fees and that these charges (including any money that lenders pay to Driva) are already built into personalised quotes. The monthly repayment figure you see is exactly what will come out of your account each month and fully inclusive of all costs (bye bye hidden fees!).

If you'd like to quickly figure out your monthly repayments on a new vehicle be sure to check out our car loan calculator.

Macquarie pays us for sending them high-quality customers. This payment generally includes two components:

• Brokerage: Up to $990 brokerage
• Commission: Up to 2% of NIM (IR discounted) 

As with all lender fees, these are not payable from you to Driva directly and are not required to be paid upfront. Rather Macquarie incorporates them into your total loan amount, which is paid off over the life of the loan.

All car loan brokers have access to the same interest rate, whether that be for Macquarie's secured or unsecured loan products. If you decide to apply through Driva, we can also match the rate you would receive from Macquarie by going directly, regardless of the loan term. 

This means that if you're seeing a different comparison rate for Macquarie elsewhere, it could be because other brokers are showing generic comparison rates that will be increased later in the process because of an older vehicle, your living situation, or credit score.

If you still think our comparison rate is higher than you’re seeing them elsewhere, we’re confident we’ll be able to beat it. Email us at contact@driva.com.au.

Macquarie Bank is an integral part of Macquarie Group Limited, an Australian-based global financial services company. Operating across various sectors, including asset management, retail and business banking, wealth management, leasing and asset financing, market access, commodity trading, renewables development, and more, Macquarie Bank showcases a strong presence both in Australia and around the world. Its Australian origin and global reach make Macquarie Bank a prominent player in the financial landscape, and through Driva's platform, customers can access their diverse and innovative financial solutions.

Macquarie Bank Limited operates as a subsidiary of Macquarie Group Limited, an Australian financial entity. Unlike being owned by another bank, Macquarie Bank's association with Macquarie Group allows it to benefit from the group's wide-ranging expertise and resources. Regulated by the Australian Prudential Regulation Authority (APRA) as an authorised deposit-taking institution, Macquarie Bank adheres to stringent regulations that ensure its stability and trustworthiness. As a partner on the Driva platform, Macquarie Bank's status as part of a reputable Australian group and its adherence to regulatory standards underline its commitment to providing reliable and competitive financial products.