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Personal Loan:
A personal loan is usually made by a financial institution to an individual person without the need for the provision of asset security. Personal loans can generally be obtained for any worthwhile purpose subject to the lending criteria of the financ

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Macquarie Transfers $1.5 Billion Car Loan Portfolio to Allied Credit

Strategic Move Reflects Macquarie's Focus on Mortgage Growth

In a significant development within the Australian financial sector, Macquarie Group's Banking and Financial Services division has agreed to sell a substantial portion of its car loan portfolio, valued at $1.5 billion, to Allied Credit.

This transaction involves over 50,000 car loans and is expected to be finalised by the fourth quarter of 2025.

This strategic decision aligns with Macquarie's broader objective to concentrate on expanding its home loan and deposit products. Ben Perham, Head of Personal Banking at Macquarie, stated that the move allows the bank to enhance its digital banking services and focus on areas with higher growth potential.

Allied Credit, a prominent independent financier in Australia, views this acquisition as a pivotal step in strengthening its position in the automotive finance market. Jon Moodie, CEO of Allied Credit, expressed confidence that the deal would bolster the company's capabilities and customer offerings.

For existing Macquarie car loan customers, the transition is expected to be seamless, with Allied Credit assuming responsibility for servicing the loans. This development underscores the dynamic nature of the automotive finance sector and highlights the importance of staying informed about changes that may impact borrowers.

Published:Wednesday, 8th 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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