Common questions
What are the rates, fees and terms?
You can view the fee schedules, rates and terms for Marac car loans on our website.
Can I change my repayment amounts during the loan term?
Yes. Give our car loans team a call on 0800 85 30 30, and we’ll see what we can do to change your loan to suit your circumstances (there may be a fee to restructure your loan).
What is the security for my car loan?
The security will be the car you’ve purchased, although we may ask for additional security and/or a guarantor.
How long will it take for my loan application to be processed?
We will be in contact within two hours from receiving your application, but this might be the next working day depending on when your application is received.
Is there a minimum amount I can borrow?
$5,000 is the minimum amount that can be borrowed.
Can I get a loan approval before I’ve found the car that I want?
Yes – We know that some people like to know how much they can borrow before they go shopping for a car. You can apply for the loan as normal and, if approved, you can use the approval confirmation with a Marac authorised motor vehicle dealer. If you’re organising a private sale, we will pay the private seller on your behalf.
Is there a minimum age to apply for a car loan?
Yes, you need to be at least 18 years of age.
Can I change the amount of my loan after it is approved?
Yes – If you want to increase the amount, give us a call on 0800 85 30 30. If approved, we can confirm this over the phone and you won’t need to fill in another loan application.
Can I apply for a car loan with a learner’s driver license?
No, the minimum driver license we require is a restricted license
What can I do on the Heartland mobile app?
- View your loan balance
- Manage your loan payments
- Access your payment schedule
- Generate and download statements
- Update your contact details
For further information, please visit our how-to guides
