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Macquarie Bank Shifts Strategy: Exits Car Loans to Prioritise Mortgages

Understanding Macquarie's Strategic Move and Its Implications for Borrowers

In a significant strategic shift, Macquarie Bank has announced its decision to cease offering car loans, redirecting its focus towards expanding its mortgage and deposit services.

This move is set to result in the loss of approximately 100 jobs within the bank's automotive lending division.

Effective immediately, Macquarie will no longer provide automotive loans under its own brand. Brokers have been given a 48-hour window to submit any final car loan applications, with the product being phased out for brokers by mid-May.

This decision underscores Macquarie's commitment to strengthening its position in the mortgage market, aiming to capture a larger share by reallocating resources from its automotive lending operations. For consumers, this means one less major player in the car loan market, potentially leading to reduced competition and fewer financing options.

Borrowers currently holding car loans with Macquarie are advised to review their loan terms and consider refinancing options if necessary. It's essential to stay informed about such industry changes to make well-informed financial decisions.

Published:Thursday, 9th Oct 2025
Source: Paige Estritori

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Finance News

Surge in Business Loan Applications Amid ATO Debt Rule Changes

09 Oct 2025: Paige Estritori

Small and medium-sized enterprises (SMEs) across Australia are experiencing a significant shift in financial strategy due to impending changes in tax debt regulations by the Australian Taxation Office (ATO). Effective from July 1, general interest charges (GIC) and shortfall interest charges (SIC) on tax debts will no longer be tax-deductible. With the GIC rate currently at 11. - read more

RBA Advises Caution on Borrowing as Interest Rates Set to Fall

09 Oct 2025: Paige Estritori

The Reserve Bank of Australia (RBA) has issued a cautionary statement to households, advising against excessive borrowing in anticipation of potential interest rate reductions. This warning aims to prevent the emergence of a boom-and-bust cycle that could destabilize the financial system. - read more

Lendela and Revive Financial Join Forces to Address Australia's Growing Debt Challenges

09 Oct 2025: Paige Estritori

In response to the escalating debt crisis in Australia, Lendela, a leading loan matching platform, has announced a strategic partnership with Revive Financial, the nation's largest debt relief and management firm. This collaboration aims to empower Australians facing financial distress by offering tailored debt solutions designed to restore financial stability. - read more

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