Loan Features and Benefits

At RACQ we value you and want to help you understand our personal loans further.

• Features and benefits
• Credit Protection
• Autosure Protection
• Frequently Asked Questions

Features and Benefits

• Online or over the phone approval - In most cases our professional and helpful staff will advise you of the outcome of your application within 24 hours.
• Low fees - Our personal loans have no ongoing monthly fees.
• Easy monthly or fortnightly repayments - RACQ Finance makes repaying your loan easy with a monthly or fortnightly direct debit facility. You can make extra repayments at any time.
• Pre approval - We can pre approve your loan so you know in advance how much you have to spend.
• Fixed interest rates - With fixed interest rates you know exactly how much your repayments are going to be over the entire term of the loan.

Conditions, fees and charges apply. Rates subject to change without notice. The special interest rate for our new car loans is not available in conjunction with other offers or discounts. If other applicable offers or discounts on the standard applicable RACQ interest rate produce a rate lower than the special interest rate, the lower rate will be offered.

If you are interested in discussing Credit Protection or Autosure Protection, RACQ loan customers can contact a finance consultant on 1300 361 316.

Frequently Asked Questions

1. Does RACQ only finance specific makes of vehicles?

We finance most new and used vehicles of various makes and ages. This also includes caravans, watercraft and motorcycles.

2. What information do I need to supply for an application?

When assessing your application for a personal loan, we take many factors into account in order for us to make an informed credit decision. You will need to provide us with proof of your identity and of your ability to be able to repay the loan, such as a current pay advice or group certificate. Other details such as proof of housing, ownership or rental, employment history, references and credit history are usually asked for during the credit application process.

3. What interest rate will I be charged?

Your interest rate is calculated in regard to your personal circumstances and whether or not you are a RACQ member. Because our rates may vary please ask one of our professional finance staff for our current base rates by calling 1300 361 316.

4. Will my interest rate change?

No, your interest rate is fixed for the term of your loan.

5. Do I get a discount if I am an RACQ member?

RACQ members receive 1% p.a. off the standard base rate.  This discount does not apply to the New Car Special Rate for car loans. Other offers may also apply from time to time to provide further benefits to members.  Not an RACQ member? Join RACQ now! 

6. How can I apply for finance?

You can apply for finance on the internet by clicking on Apply now or by contacting RACQ Finance on 1300 361 316 to speak to a finance representative. If you would like us to contact you, please leave us some brief details using the Express Lane application and we will contact you at a time that you have specified.

7. What are your fees and charges?

We currently have no ongoing monthly fees however there is an application fee to cover the loan set up. If you would like to know more about this and any other fees which may occur during the life of your loan please contact RACQ Finance on 1300 361 316. All fees and charges will be disclosed in the loan contract and provided to you prior to sign up.

8. Would I qualify for an RACQ loan?

Every application for finance is assessed on its own merits and can only be fully determined by making an application.

9. How long does it take?

In most cases, we will be able to advise you the outcome of your application for a loan within 24 hours. If you are signing up by an authorised representative in a RACQ Branch the documents can be made by available by appointment for sign-up at a time convenient to you or sent through the mail.

10. What are the minimum and maximum amounts for a loan?

We will consider most loan amounts above $5,000 providing the loan is for a worthwhile purpose, such as purchase of new or used car, caravan, motorcycle, home renovations and consolidation of other loans.

11. Are there any purposes you won't approve a loan for?

We will consider all worthwhile purposes when assessing your personal loan.

12. Will you consider a loan for me if I have had some problems with
credit in the past?

We understand that things may have happened with your credit in the past and will consider all loan applications. To assist our staff in assessing your loan, you may be required to provide additional information over and above what is requested on the application form

13. If I am not happy with the RACQ loans product or service that has been provided, how do I make RACQ aware of my issue?

If you are dissatisfied with the product or service you have been provided, RACQ Loans is committed to providing fair and prompt resolution to any issues that may arise with your RACQ Loan. Should you wish to make a complaint please email CustomerRelations@racq.com.au or phone 1300 361 316.

If you are not satisfied with the result of your complaint you may also contact RACV Finance Pty Ltd by phone 03 9790 2940, fax 03 9790 2971 or mail to 550 Princes Highway, Noble Park North VIC 3174, email finance@racv.com.au or The Credit Ombudsman Service Limited (COSL) phone 1800 138 422, fax 02 9273 8440, email info@cosl.com.au or mail to P.O. Box A252, Sydney South NSW 1235. 

RACQ Operations Pty Ltd is a member of Credit Ombudsman Service Limited (COSL). The Credit Ombudsman Service is an independant external dispute resolution scheme for the financial services industry, approved by the Australian Securities and Investments Commission (ASIC). COSL provides consumers and its members with an alternative to legal proceedings for resolving their disputes. For more information about COSL, visit their website at www.cosl.com.au.