Stop dreaming, start driving with an RACQ Bank Car Loan

An RACQ Bank Car Loan makes it easy to get the car you want. Whether family, fun, or fuel efficiency is driving your next purchase, we’re here to make it happen. Plus, you’ll receive the same low interest rate and flexible payment options for new or used cars.

  • Low interest rates on all car loans
  • No deposit or monthly account keeping fees
  • Unlimited additional repayments
  • Available for new lending only

Apply now

Car Loan Special - New and used cars

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

7.99%  p.a.

fixed rate

8.27%  p.a.

comparison rate

WeMoney Winner lender of the year car loans WeMoney Winner excellent rates and fees car loans WeMoney Winner best for value car loans

Car loan details

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

Learn more about car loans with our car loan FAQs.

  • Fees
    • Establishment fee: $195
    • Annual and monthly fees: $0
    • Additional repayment fee: $0

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

  • Terms
    • New car loan maximum term: 7 years
    • Used car loan maximum term: 5 years (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: $100,000
  • Repayments

    We offer flexible car finance options, including:

    • Weekly, fortnightly or monthly repayments
    • Unlimited additional repayments

How to apply for your car loan

  • icon-step-1
    Fill in your online application

    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
    We’ll do a final review

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

  • icon-step-4
    Your car loan is approved

    Congratulations! If successful, we'll provide some paperwork for you to complete and send back, then we'll make the funds available after we’ve received all documentation.

Why apply for an RACQ Bank Car Loan?

  • person-next-to-racq-logo
    RACQ Bank is owned by RACQ members
    We exist to serve our members’ best interests. 
  • 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 118 years.

  • racq-logo-dash
    You'll enjoy membership benefits
    We’ve got discounts to get your motor running.

Car loan FAQs

Things to note 

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 a secured 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.  

Rates current as at 19 March 2024 and subject to change at any time.

Insurance products (excluding Travel Insurance) 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.

^The online discount will be applied and deducted on the total annual premium amount payable on your new policy. Excludes pay later option and any policy renewals. Discount amounts may be pro-rated for cover of less than 12 months.

RACQ Bank Car loan available for new lending only.