Car Loans

RACQ offers car loans at a great rate with no monthly fees and the choice of fortnightly or monthly repayments.

Whether you have selected the vehicle you are wanting to purchase or you want the confidence of knowing what you can afford, an RACQ car loan gives you the option of applying for an approval or a pre-approval.

Your online toolbox can provide you with everything you need to get into your new car quickly and without hassle.

Apply online

Member Discounts Available

In addition to the features and benefits of an RACQ car loan, RACQ members receive a 1% p.a. discount off the standard base rate. (Note, this discount doesn’t apply to new car special rates or for business vehicle loans). Remember to quote your membership number when you are speaking to one of our finance consultants about your next car loan.  

If you aren’t a member and want to access member benefits, you can join online or phone 13 1905.

Loan Calculator

The loan calculator can help you understand your approximate loan repayments and how much you can save by halving your monthly repayments and paying them fortnightly.  Paying fortnightly may save you money and decrease the term of your car loan so you can own your car sooner.

How it Works

Your RACQ car loan is a personal loan which is secured by the car you are purchasing. We can assist with car loans for vehicles purchased through a dealership, at auction or private sales. If you want a loan for something other than purchasing a car,, we can take security over the goods you are purchasing or another motor vehicle that you already own. Your RACQ car loan has a fixed interest rate and fixed repayments so that you know how much you need to budget for each month.

A Tip to Keep in Mind When Looking for a Loan

When considering the cost of a vehicle most people focus on either the lowest purchase or ‘change over’ cost. However, another critical factor to consider is whether you're selecting the correct finance package for your needs.  Selecting the wrong one can cost you more in the long run and erode any savings you gained by negotiating a good price on the car with the seller.  The rate you may have been quoted may not be the rate you end up paying by the time you add in other fees and charges so make sure you read your contract carefully and ask questions upfront.

Let RACQ Step You through the Loan Process

Find out more about current rates and offers with RACQ Loans. Before you commit to another provider, call one of our finance consultants and confirm that you have indeed chosen the package with the lowest loan repayments, inclusive of all ongoing fees and charges.

Through the online loan application form you can apply online at a time that is convenient for you. Our online application will take approximately 10-15 minutes to complete and includes questions that allow us to identify who you are, understand your employment and financial situation and provide us with information about the type of car you are thinking about purchasing. Once we have received your application, one of our finance consultants may contact you to clarify a few things further but by then you have at least done the hard work.

Alternatively if you would prefer to speak with one of our finance consultants, phone 1300 361 316 or have one of our Finance Consultants call you.

*Conditions, fees and charges apply. RACQ Loans are provided by R.A.C.V. Finance Ltd ABN 82 004 292 291 Australian credit licence 391488 and are subject to R.A.C.V. Finance lending criteria. RACQ Operations Pty Ltd ABN 80 009 663 414 credit representative number 364451 is an authorised representative of R.A.C.V. Finance Ltd ACL 391488.  RACQ Members receive 1% p.a. discount off their loan rate only. Member discount does not apply to the new car special rate. Settlement of the RACQ Finance loan contract must occur on or prior to 31 December 2012. Offer cannot be redeemed for cash or other goods & services. Rates subject to change without notice.

Loan Comparison Checklist

• Are there monthly account keeping fees? Is the monthly fee included in the repayment provided – or is it extra?
• Is there a penalty for paying out early? How much is it?
• When comparing loans, look at the repayments. The quote with the lowest interest rate may not necessarily have the lowest repayment (because of the additional fees and charges).
• What payment methods are available and are there additional fees that apply? Eg – Direct debit, BPay.
• Is there an origination fee or brokerage that is payable by me?
• Consider the after-sales service aspect. Mutual organisations exist only to benefit their members.
• If you feel under pressure to apply with a specific provider, ask for time out – walk outside and call someone you trust for an opinion or further information.
  
  Download Checklist (PDF, 610kb)