Our helpful FAQs will help you get the keys to your dream car sooner.

Yes, you must be a member of The Mac to receive a loan. We’re a mutual financial institution and as such, are owned by our members. As we’re not owned by shareholders we can invest our profits back into delivering better rates, products and services for our members.

A comparison rate includes the interest rate and any fees payable over the life of the loan, giving you a true understanding of how much you’ll be paying. It’s always a good idea when comparing loans to compare based on the comparison rate.

A loan term is the period of time you decide to take a loan over. For example, if you decide to take a loan over 7 years, your loan term will appear as 7 years or 84 months.

Our current car loans are variable rate car loans, not fixed. This means that the interest rates can fluctuate however they often don't.

Our Car Loans have a $250 establishment fee. To register your vehicle as security on the Personal Properties Security Register (PPSR) there is an additional $15 charge. On loans more than $35,000 stamp duty will apply. These fees are not payable upfront and are added to the total of your car loan. Please read our Loans, Fees & Charges guide for more information.

There are no ongoing or account keeping fees.

There is no minimum amount that can be borrowed under a New Car Loan and the maximum is $150,000. Remember, the amount you can borrow will be assessed and determined by your ability to meet your loan repayments. We pride ourselves on our transparent, honest lending and endeavour to help all members achieve their dreams without living above their means.

We don’t charge early payout fees on our car loans.

You can make additional repayments without being penalised.

You can tailor your loan to suit your income flow with the option of weekly, fortnightly or monthly loan repayments.

There is an optional redraw facility on The Mac’s Car Loans. This gives you the ability to make additional repayments to reduce the interest payable, whilst still having the flexibility to redraw on the additional amount should any unexpected expenses arise. This facility is free of charge and you have the option to remove this function if it isn’t desired.

As a secured loan you’ll need insure your vehicle with Comprehensive Insurance. You’ll need to provide copies of your policy to us when taking out your loan, at the policy’s renewal and if changing insurers.

Statements will be provided 6 monthly, however you can view your loan balance and payments at any time with Online Banking, The Mac App and Phone Banking. You can request a statement at any time from our branches, although this may incur a charge.

Repaying your loan is simple. We can organise to have automatic payroll deductions from your account or if you prefer simply transfer between your own accounts through Online Banking, The Mac App or in branch. You can set up automated Periodic Payments so you’ll never miss a repayment.


If you’re making payments on your loan from an external account, you’ll need to provide both the BSB (802-388) and Alternate Reference Number. Remember, funds can take up to two business days to be processed from external financial institutions.