Get answers to the most common questions we get asked

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

Before considering a loan with RACQ, we recommend you view our guidelines.

Are you:

  • Looking for a loan $5000 or more?
  • Over 18 years old?
  • A permanent Australian resident/citizen or on an approved working visa?
  • Earning a sufficient income to make the loan repayments and have a clear credit rating?

If you tick all of the boxes above and would like to you can apply onlinerequest an application or contact our finance consultants.

You can:

  • choose to make your repayments monthly or fortnightly
  • pay with Direct Debit, so you don’t need to worry about late repayments
  • make extra repayments at any stage during the loan.

Apply now

We’ve put together a loan comparison checklist to help you ask the right questions and find the loan that best suits you. 

  • Are there monthly account keeping fees? Is the monthly fee included in the repayment provided – or is it extra?
  • Is there a fee 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 customer service you’re likely to receive. 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 the checklist (PDF 610KB)

When assessing your application for a loan, we take many factors into account so we can make an informed credit decision. You will need to provide us with proof of:

  •  your identity 
  •  your ability to be able to repay the loan (e.g. current pay advice or group certificate)
You may also get asked for proof of housing (ownership or rental), employment history, references and credit history.

Your interest rate will depend on your personal circumstances. Our base rates may vary, so please call us on 1300 361 316 to learn more.

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

You can apply for finance online  or by contacting RACQ FinanceAlternatively, use the Express Lane online application to leave brief details, and we can contact you at a time that suits.

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 our finance team. All fees and charges will be disclosed in the loan contract and provided to you prior to sign up.

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

In most cases, we can let you know within 24 hours whether your loan application is successful. 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.

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

We understand that things may have happened with your credit in the past, and will certainly consider your application. However, you may be required to provide additional information over and above what is requested on the application form.

We are committed to providing fair and prompt resolution of any issues that arise. If you are dissatisfied with our products or service, please contact RACQ: 

Once you have done this, if you are not satisfied with the result of your complaint, you may also contact RACV Finance Pty Ltd:
  • Finance@racv.com.au  
  • 03 9790 2940
  • 03 9790 2971 (fax)
  • 550 Princes Highway, Noble Park North VIC 3174
You can also contact the Credit Ombudsman Service Limited (COSL):
  • Info@cosl.com.au
  • 1800 138 422
  • 02 9273 8440 (fax)
  • PO 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 independent 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, visit the COSL website.

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