Compare The Mac Car Loans & Interest Rates - Best Find

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Type of vehicle loan

Car finance provider

The Mac Car Loans

New Car Loan

With no ongoing fees, fast loan turnaround and pre-approval available, you’ll be cruising along an open stretch of road in no time.

Overview

Minimum loan amount$10,000

Maximum loan amount$50,000

Minimum term1 year

Maximum term7 years

Advertised rate5.99%

Comparison rate7.42%

Monthly repayments (approx)$310

Total repayments (approx)$11,185

Total interest repayments (approx)$1,185

Rate typeVariable

Secured or unsecuredSecured

Security required Yes

Application / establishment fees$215

Other Fees & Information

Monthly fee$0.0

Quarterly fee$0

Annual fee$0

Other fees$0

Missed payment fee$0

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone1300 622 278

Data accurate as of02.04.2017

Comparison warning This comparison rate is based on a secured loan of $30,000 loan over 5 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate.

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Used Car Loan

The Mac’s Used Car Loan is an easy solution to owning your dream car sooner. With low rates, pre-approvals and fast loan turnarounds, what are you waiting for?

Overview

Minimum loan amount$5,000

Maximum loan amount$50,000

Minimum term1 year

Maximum term7 years

Advertised rate8.49%

Comparison rate9.95%

Monthly repayments (approx)$322

Total repayments (approx)$11,607

Total interest repayments (approx)$1,607

Rate typeVariable

Secured or unsecuredSecured

Security required Yes

Application / establishment fees$215

Other Fees & Information

Monthly fee$0.0

Quarterly fee$0

Annual fee$0

Other fees$0

Missed payment fee$0

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone1300 622 278

Data accurate as of02.04.2017

Comparison warning This comparison rate is based on a secured loan of $30,000 loan over 5 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate.

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Compare 100s of car loans

Did you know you can compare 100s of car loans? Review, calculate interest rate repayments, apply online and save by visiting our main car loans comparison page.

Compare and review The Mac car loans

Looking to finance a new or used car, van, truck or motorcycle? When comparing The Mac car loans, there are other key facts to consider and understand, other than just The Mac’s interest rates.

What car loan options are available?

The Mac has 2 car loan products:

  • The Mac New Car loan
  • The Mac Used Car loan

View the above table for detailed product information and a comparison of the interest rates, fees and features.

You can also review and compare The Mac personal loans and The Mac home loans.

Do you have a The Mac car loans calculator?

Yes. Use the filter to adjust your loan amount and term to calculate your approximate monthly repayments. When you apply the filter, you will see a breakdown of your approximate monthly repayments as well as the total amount of interest and fees paid.

For a more accurate quote, contact The Mac directly.

How to apply for a The Mac car loan?

If you’d like to apply online for a The Mac car loan, just scroll up and click on “Learn more” to be taken to The Mac’s secure online application form. Before you apply, be sure to learn about The Mac’s loan products, fees and eligibility criteria. Give yourself around 30 minutes to complete the car loan application.

The Mac’s car loan eligibility criteria

Before you apply for a car loan, be sure to understand and meet the The Mac’s lending criteria. Below is high-level overview of The Mac’s criteria:

The Mac’s minimum requirements for a car loan

  • Minimum age of 18
  • Earn a minimum of $15,000 per annum
  • You’re buying a car or motorcycle for personal use
  • Minimum loan amount of $10,000 or more
  • You’re a permanent Australian resident or valid work visa holder (457 or other diplomatic visas)

Information you’ll need to provide

Whether at the The Mac branch or online, make sure to have the following details and documents nearby:

  • A current Australian driver’s license (if you have one)
  • Your current employer’s name, contact name and phone number
  • Previous employer, if you’ve changed jobs in the last three years
  • Income, expenses, assets and liabilities (such as other loans or credit cards)

Are you self-employed?

If you’re self-employed, you will also need to provide:

  • Financial statements for the last year (no older than 18 months)
  • Your most recent personal/business tax return (no older than 18 months)

Other things to keeping mind when applying

  • Approval time takes between 1 to 3 business days
  • It’s advantageous to have a good credit history. For example, you have no recent defaults and no frequent requests for credit
  • Credit cards with large credit limits are seen as liabilities, even if there’s nothing owing. If you have existing liabilities, be certain you can pay them off in addition to your The Mac car loan

There are many additional factors The Mac consider when accessing your application, but the above are the most important. If you feel like you may not meet their eligibility criteria, it may be best to save!

What can you use a The Mac car loan for?

Examples of common loan purposes The Mac will lend for:

Additional The Mac car loan information

The Mac’s minimum and maximum car loan amounts and terms

How much can you borrow? Between $10,000 and $50,000, over terms between 1 year and 7 years. Use our filter as a repayment calculator to see your monthly repayments and rates.

Repayment schedule

The Mac allow weekly, fortnightly or monthly repayment.

Extra repayment or early penalties

The Mac allows you to make additional or early repayments. There are no fees associated with completely repaying your loan off early. View their terms and conditions to learn more about early termination.

Security

The Mac’s Car Loans require an asset (typically, the vehicle) as security.