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Here’s why you should choose an RACQ Bank Car Loan

Take out a secured car loan with RACQ Bank so you have the flexibility to choose a car that is suited to your lifestyle. Car finance with RACQ Bank means you’ll receive the same low interest rates for car loans on new or used cars and can enjoy an RACQ membership that gives you access to our entire range of member benefits.

  • Low interest rates for both new and used cars
  • No deposit or monthly account keeping fees
  • Unlimited additional repayments with no penalty

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Car Loan Special
New and used cars

5.89% p.a. fixed rate*

6.44% p.a. comparison rate*

*Excludes debt consolidation loans

Car Loan FAQs

A comparison rate is an interest rate that indicates the true cost of a loan. This rate incorporates certain fees and charges that are applicable for the chosen product, and also takes into account what the interest rate will be after any introductory periods are finished.

RACQ Bank Personal Loans are designed for a wide range of purposes; such as a wedding, holiday or debt consolidation, with no security requirement. 

RACQ Bank Car Loans are designed specifically for buying a new or used car, boat, caravan or jet ski to name a few. These have a very attractive interest rate, which is enabled by us taking security over the item being purchased.

RACQ Bank makes it easy to manage your debt by consolidating your debt into one, easy to manage loan. We offer competitive rates on our debt consolidation loan help you pay it off sooner.
Yes, you are entitled to pay more than the minimum repayment amount, increase the frequency of your repayments or pay out your loan early without penalty. 
         More Banking FAQs

RACQ can help you when purchasing a new or used vehicle.

Loans and banking products are issued by Members Banking Group Limited ABN 83 087 651 054 AFSL and Australian credit licence 241195 trading as RACQ Bank. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, before deciding.

Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

Terms, conditions, fees, charges and lending policies apply. Comparison rate calculated on an unsecured loan amount of $30,000 over 5 years based on monthly repayments. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Car Loan Special is available for car loan applications received between 10 July 2019 and 31 March 2020 and funded prior to 30 June 2020. The Car Loan Special is available for new lending only.

Variable interest rates current as at 10 July 2019 and subject to change at any time.

Insurance products issued by RACQ Insurance Limited ABN 50 009 704 152. Conditions, limits and exclusions apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the PDS and any relevant SPDS (where applicable) before making a purchase decision.

Calculator Disclaimer

The above Personal Loan calculator is a model, not a prediction. Amounts and repayment periods are estimates only, and actual amounts may be higher or lower. Results are based on information you have provided and do not take your personal circumstances into account. This calculator is not intended to be your sole source of information when making a financial decision. You should consider obtaining advice from a suitably qualified financial professional.

The comparison rate for secured loans is based on a secured loan amount of $30,000 over 5 years. The comparison rate for unsecured loans is based on an unsecured loan amount of $30,000 over 5 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Costs such as 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. Calculator by Widget Works.

Comprehensive Car Insurance Buy Online Disclaimer

^Excludes pay later option.