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Why choose an RACQ Bank Car Loan?

Have the flexibility to choose your next car and get a secured car loan made to suit your life in Queensland. With an RACQ Bank car loan you’ll receive low interest rates and unlimited additional repayments so you can pay your loan off faster. Enjoy member benefits like extra discounts across car maintenance, batteries and more. Get more for your car with RACQ Bank.

  • Low interest rate
  • No deposit
  • No monthly account keeping fee

 

  • Unlimited additional repayments with no penalty
  • Simple online application
  • Discounted car maintenance

Car loan interest rates and fees 

With our competitive interest rates you’ll be able to pay your car off sooner. Whether you’re in the market for a new or used car, make every dollar count with an RACQ Bank secured car loan.

New Car Loan

Choose any car that’s less than 2 years old and enjoy our lowest new car fixed interest rate.

6.17 % p.a Fixed Rate
6.72 % p.a Comparison Rate

Used Car Loan

Take your pick of any used car and lock in a competitive interest rate for the life of your loan.

8.95 % p.a Fixed Rate
9.52 % p.a Comparison Rate

Fees and figures

Let’s work out the numbers. Know exactly what you can borrow, what you’ll pay and how soon you can pay it off.

Establishment fee $395
Minimum term None
Maximum term 7 years for a New Car Loan
5 years for a Used Car Loan
Payment options Weekly, fortnightly or monthly repayments available
Minimum loan amount $3,000
Maximum loan amount $60,000
Additional repayments Unlimited additional repayments with no penalty or fees.

How to apply for a car loan

You can apply for an RACQ Bank Car Loan online, anytime. It’s super easy, just fill in our application form. It takes approximately 10 minutes to complete and submit our form and once we receive it, we’ll kick-start the process for you.

1. Complete our online application form.

2. We’ll review your application and call you back within 1 business day. When we touch-base we’ll let you know what supporting documents we need.

3. We’ll review everything you’ve provided and confirm if your application has been successful.

4. If successful, we’ll provide some paperwork for you to complete and send back, then we’ll move the money into your bank account.

Apply now

Car loan calculator

How much will your repayments be? Use our personal loan calculator to estimate your repayments. See what you’ll be paying based on your loan size, term and payment frequency.