Get a great car loan

Whether you’ve selected the vehicle you want to buy or just 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 loan.

An RACQ car loan is a personal loan  which is secured by the car you are purchasing. We can assist with loans for cars purchased through a dealership, at an auction or through 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 you know how much you need to budget for each month.

With an RACQ car loan you also become an RACQ member giving you access to a wide range of member benefits including savings at over 1200 partner locations, up to 45% off movie tickets, access to a car brokerage service at no cost, and 24 hour travel assistance in Australia with Aussie Assist.

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Features and benefits

New car loans

  • Rates from 6.20%*p.a Comparison Rate 6.73%^p.a
  • Apply online or over the phone approval – in most cases our professional and helpful staff will advise you of the outcome of your application within 5 business hours
  • Low fees – our personal loans have no ongoing monthly administration fees
  • Easy monthly or fortnightly repayments with direct debit facility and you can make extra repayments at any time
  • Pre-approval – we can pre-approve your loan so when you find the car you want to buy, you will know how much you can spend
  • Fixed interest rates – with fixed interest rates you know exactly how much your repayments will be over the entire term of the loan
  • 21 day Satisfaction Guarantee - Take out a loan with RACQ and if you are not completely satisfied with the loan, you can repay the amount borrowed within 21 days and we will cancel your loan without penalty.

Used car loans

  • Rates from 9.45%*p.a Comparison Rate 10.00%^p.a
  • Apply online  or over the phone approval – in most cases our professional and helpful staff will advise you of the outcome of your application within 5 business hours
  • Low fees – our personal loans have no ongoing monthly administration fees
  • Easy monthly or fortnightly repayments with direct debit facility and you can make extra repayments at any time
  • Pre-approval – we can pre-approve your loan so when you find the car you want to buy, you will know how much you can spend
  • Fixed interest rates – with fixed interest rates you know exactly how much your repayments will be over the entire term of the loan
  • 21 day Satisfaction Guarantee - Take out a loan with RACQ and if you are not completely satisfied with the loan, you can repay the amount borrowed within 21 days and we will cancel your loan without penalty.

Things to consider:

  • 1. Financial packages

    When you’re looking to buy a car, make sure you do your research around the finance package as well as the initial cost of the car. Selecting the wrong one could end up costing you more in the long run and use up any savings you gained by negotiating a good price on the car with the seller. Make sure you read your contract carefully and ask questions upfront so you don’t end up paying more than you have to.

    Use our Loan Comparison Checklist to help you make an informed decision.

    Download comparison checklist (PDF 611KB)

  • 2. Rates and offers

    Before you commit to another provider, call our finance consultants and confirm that you have chosen the package with the lowest loan repayments, inclusive of all ongoing fees and charges. Check out our competitive rates and use our loan calculator to figure out how much you will need to put aside each fortnight or month for your loan repayments.

    Current rates and loan calculator

  • 3. Ready to apply?*

    You can apply for your car loan with our online loan application form. It should only take around 10 minutes to complete.

    It 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.

Member testimonials

I'm now on my third car loan with RACQ and I have always been impressed with the ease of the service and speed with which loans are processed. Thank you so much. Bloody legends!

David, Bronze Member, Northgate.

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Terms and conditions

*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. Rates are subject to change without notice.

^Comparison rate calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments. Warning this comparison rate applies only to examples given. Different amounts and terms will result in different comparison rates. Costs such as a redraw or early repayment fees and cost savings such as fee waivers are not included in the comparison rate, but may influence the cost of the loan. All loans are subject to RACV lending criteria. 6.50% p.a. (comparison rate 7.03% p.a.) is a new car special rate available to approved applicants who are home owners or home buyers approved for loan amounts over $15,000.