Save today with RACQ Bank's Free2Go Car Loan Special

As a Free2Go participant, you can save even more. 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 on new or used cars, with no upfront establishment fees# and you'll become an RACQ member. The Free2Go program is free and open to all Queensland residents, aged 16-24. Join today and save. With an RACQ Bank car loan you get:

  • No upfront Establishment Fees for Free2Go participants#
  • Low interest rates for both new and used cars
  • No deposit, monthly or annual account keeping fees
  • Unlimited additional repayments with no penalty

Apply now

Free2Go Car Loan Special - New and used cars

New lending only. Excludes debt consolidation loans. Comparison rate warning.

5.49%  p.a.

fixed rate

6.16%  p.a.

comparison rate

Free2Go Car loan details

Fees, terms and features included for car loans (excludes debt consolidation).

To learn more about car loans, see our car loan FAQs.

  • Fees
    • Establishment fee: $0
    • Annual and monthly fees: $0
    • Additional repayment fee: $0
    • Loan document fee: $82.50

    For a full list of fees and charges refer to the Loan Fee Schedule

  • Terms
    • Maximum term: 7 years for a New Car Loan or 5 years for a Used Car Loan (car must not be older than 12 years at the end of the loan term)
  • Limits
    • Minimum car loan amount: $3,000
    • Maximum car loan amount: $60,000
  • Repayments

    We offer flexible car finance options, including:

    • Weekly, fortnightly, or monthly repayments
    • Unlimited additional repayments

How the application process works

  • icon-step-1
    Complete our online application form

    You can apply for an RACQ Bank Car Loan online anywhere, anytime. Our secure streamlined car loan form takes approximately 15 minutes to complete and submit. Once we receive it, we'll kick-start the process for you.

    To apply you will need:

    • Personal identification
    • Employment details
    • Your living expenses and liability details
    • Asset details
  • icon-step-2
    We'll call you back

    We'll review your car loan application and call you back as soon as possible. When we touch-base we'll let you know what supporting documents we need to complete the process.

  • icon-step-3
    Final review

    We'll review everything you've provided and confirm if your car loan application has been successful.

  • icon-step-4
    Loan approved

    Congratulations! If successful, we'll provide some paperwork for you to complete and send back, then we'll transfer the money into your bank account.

Why choose an RACQ Bank Car Loan

  • person-next-to-racq-logo
    RACQ members own RACQ Bank
    We reinvest profits back into our customers.
  • two-people-next-to-eachother
    Our staff are locals

    We’re run by Queenslanders for Queenslanders.

  • hands-with-heart
    We have a reputation for integrity

    RACQ has been serving members for over 115 years.

  • racq-logo-dash
    You'll enjoy membership benefits
    Get the most out of your vehicle with member discounts.

Car loan FAQs

Things to note

#Offer available to new and existing Free2Go members and participants who apply for a new Fixed Car Loan. Approval of RACQ Bank Car loan applications is subject to eligibility criteria. Offer available until further notice and can be withdrawn at any time.

Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies 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 disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you 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.

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.

The Car Loan Special is available for new lending only.

Rates current as at 14 December 2021 and subject to change at any time.

Insurance products (excluding Travel Insurance and the Life and Income Protection Insurance suite of products) are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQ). 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 applicable Supplementary PDS before making a purchase decision on this product. You can also access our Target Market Determinations on this website.

^Excludes pay later option.