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Find the right car loan

With RACV's wide range of car finance options and our handy car loan calculator, you can buy a new or used car sooner. It's quick and easy to apply and all car loans sold directly by RACV come with RACV's 21-day Loan Satisfaction Guarantee^^.

Choose from loan options for new cars, second hand cars, electric vehicles or caravans.

Our team is available Monday to Friday, 9am - 5pm, Saturday 9am- 1pm.

Get pre-approval before you decide on your car

You don’t need to know exactly what car you’re buying with our pre-purchase approval available. 

Choose the loan to suit your car

New car loans

  • Interest rates from 7.29% p.a.* Comparison rates from 8.00% p.a.^
  • Vehicles up to 3 years old (new and demo)
  • Maximum loan term of 7 years
  • No ongoing fees
  • Dealer/private sale acceptable
  • Pre-purchase approvals available.

Used car loans

  • Interest rates from 8.49% p.a.* Comparison rates from 9.21% p.a.^
  • Vehicles up to 20 years at end of loan term
  • Maximum loan term of 7 years
  • No ongoing fees
  • Dealer/private sale acceptable.

Green car loans for EVs

  • Interest rates from 5.79% p.a.* Comparison rates from 6.49% p.a.^
  • New or used battery electric vehicles
  • Maximum loan term of 7 years
  • No ongoing fees
  • Free Total Care Roadside Assistance for 3 years.

How to buy a car with RACV loans

  • Apply for loan in about 
10 minutes

    Apply online or call 13 15 60. Have personal details, income, assets and expenses ready. Include car details if available.

  • Get a response usually within 24 hours

    We'll review the application and get back to you as quickly as possible.* Pre-approval available before you decide on your car.

  • Get your funds within 24 hours of approval

    Once approved, we’ll call you to work out the details. When your car is ready, you should get funds within 24 hours.

Calculate your repayments

Estimate your monthly or fortnightly repayments on your car loan^.

You can also choose to pay weekly.

Why choose an RACV car loan?

Fast approval

If successful, you should receive funds within 24 hours of your approval.

Easy to apply

You can apply online or call 13 15 60. It's secure and will take around 10 minutes to complete.

Members can save more

Eligible members get lower interest rates when applying directly to RACV, thanks to our Years of Membership Discount.**

No ongoing fees

That means lower monthly repayments for the duration of your loan.

Helping you choose the right car

Explore thousands of car reviews

Whether you’re buying your first car or planning an upgrade, checking out the latest car reviews will help you make in informed decision.

Read car reviews

Get your car inspected

Buy a car with peace of mind and avoid any surprises, with our RACV pre-purchase vehicle inspections from expert mechanics.

Get a vehicle inspection

Support every step of the way

Satisfaction guarantee

Our 21-day Loan Satisfaction Guarantee^^ gives you peace of mind.

If you take out a consumer loan with RACV Finance and are not completely satisfied, you can repay the borrowed amount within 21 days and we'll cancel your loan without penalty. We'll also refund any interest and waive fees.

Terms and conditions

* R.A.C.V. Finance Limited ABN 82 004 292 291 Australian Credit Licence No. 391488. RACV Finance is subject to RACV lending criteria. Conditions, fees and charges apply.

RACV Loan terms and conditions | Privacy Charter (includes Credit Reporting Policy) | Dispute Resolution

RACV Finance also provides NRMA Car Loans and RACT Car Loans.

^ Comparison rate calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments. This comparison rate is only true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts will result in a different comparison rate.

** Years of Membership benefit applies to all consumer loan applications (subject to approval) made directly through RACV. Any loan application introduced through a broker/intermediary will not be able to receive the discount.

^^ If you are not completely satisfied with your RACV Finance personal loan, you can return the full loan amount and, if the loan is paid out and finalised within 21 days from the date the loan was funded RACV Finance will refund all application fees and any interest charged; waive the early termination fee (ETF); and cancel any Consumer Credit Insurance or Shortfall Insurance policy taken out and refund all premiums to the loan, product coverage will cease. The Satisfaction Guarantee is not available in conjunction with commercial loan products, leases or loans introduced by Brokers/Dealers.

485 Bourke St, Melbourne VIC 3000

Read the Target Market Determination (TMD) for more details on:

  • who this product is appropriate for (target market)
  • any conditions around how it can be distributed to customers
  • events or circumstances where we may need to review the TMD for a loan product.

Download the Target Market Determination for RACV Secured Personal Loan (197.5KB).

Frequently asked questions

You can apply online or call us on 13 15 60.

You'll need to supply your personal details, including your driver licence number, employment details, assets, liabilities, income and expenses. We will verify this information after we've reviewed your application.

Here's what makes you eligible for a car loan:

  • Up to two applicants both aged 18 years or over
  • All applicants are present to complete the application
  • Australia/New Zealand citizens or permanent residents living in Australia
  • Employed on a regular basis in Australia
  • Your credit history is good.

If you don't fit the eligibility criteria above, call our team on 13 15 60 for further assistance on progressing your application.

For more information, read the Target Market Determination for RACV Secured Personal Loan (197.5KB).

You'll be able to borrow a minimum of $5,000.

Factors like employment history, credit score, expenses and liabilities may determine the borrowing amount for a loan.

Fixed rate is an interest rate that remains the same for the entire duration of your loan.

A comparison rate combines the interest rate and certain fees or charges relating to a loan. The aim of the comparison rate is to help you find the true cost of a loan.

By direct debit or BPAY. Loan repayments will automatically be taken from your chosen bank account every week, fortnight or month depending on your preference.

We understand anyone can experience financial difficulty. Different life events like illness, losing a job, relationship breakdown or emergency events like natural disasters can cause you to experience financial hardship. If you're unable to make repayments, learn more about financial hardship and how RACV can help.

Basically, a balloon payment is an agreed lump sum you'll pay at the end of your car loan's term. This larger payment at the end of your vehicle's financing term will reduce your monthly repayments in the meantime.

Keep in mind, a balloon payment includes the lump sum plus interest.

Once you've found a vehicle and are ready to purchase through private sale, we'll help verify the asset and get the process moving.

Here's what will happen:

  1. You'll sign a private sale agreement with the vendor to accept the sale
  2. We'll send the vendor a link to an asset verification portal
  3. The vendor will upload required documents, including photographs of the vehicle, proof of ownership, roadworthy certificates and a bank statement for payment.

Our process means you'll have peace of mind with the accuracy and security of the private car deal, and can drive away in your new car sooner.

Here are some things to keep in mind:

Dealers and brokers

While it might look like they're giving you a lower rate, they often charge additional fees. These fees make your monthly repayments higher.

Manufacturer 0% and 2% finance

Low interest rates sound great but there's usually a catch. The lower the rate, the less you may be able to negotiate on the vehicle purchase price. Always negotiate on price first before advising how you will pay for your car. Remember, if it sounds too good to be true, it probably is.

Adding to your home loan

While the interest rate on your home loan might be lower, you're paying it back over a much longer period. This can increase the total interest on your loan by thousands.

Balloon or residual payments

These reduce your monthly repayments but you will still owe a lump sum with interest at the end of your loan.

Yes, our Years of Membership Benefits discount** applies to all approved loans made directly to RACV.

Here's the annual discount for RACV new, used or green car loans, based on years of membership:

  • Bronze (5 - 9 years) receive 5% discount on applicable rate
  • Silver (10 - 24 years) receive 10% discount on applicable rate
  • Gold (25 - 50 years) receive 15% discount on applicable rate
  • Gold 50 (50 + years) receive 20% discount on applicable rate

Keep in mind, any loan application introduced through a broker or intermediary will not be eligible to receive the Member discount.

If you're not a Member but end up taking out a car loan with RACV, you'll then have access to a range of member benefits, from discounted tickets to exclusive deals.

Yes you can make additional repayments, but keep in mind you may be charged an early termination fee if your loan is repaid in full before the end of the agreed loan term.

There are no ongoing fees with RACV loans. Your potential fees include:

  • Direct application fee: $499. 
  • Early termination fee: $325. This applies if the loan is repaid in full prior to the end of the loan term. No early termination fee will be charged if you pay out the loan in the last 6 months of the term.
  • Security registration fees payable at cost by the customer. 

Other loans we offer

Caravan loans

Planning a trip around Australia? 

See more of the country sooner with RACV caravan loans from 7.49%* (comparison rate 8.20%^ p.a.)

Boat loans

Found the perfect boat? 

Get out on the water sooner with RACV boat loans from 10.69%* (Comparison rate 11.42%^ p.a.)

Personal loans

Whether it’s a new deck or a swimming pool, RACV secured personal loans help make it a reality.

Explore secured personal loans from 10.69%* (comparison rate 11.42%^ p.a).