The view from the backseat of a young couple driving.

Used car loans

Drive away with our competitive interest rates for used cars

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Used car loans from 8.49% p.a.* (comparison rate 9.21% p.a.^)

  • Vehicles up to 20 years old at end of loan term
  • Maximum loan term of 7 years
  • No ongoing fees
  • Dealer/private sale acceptable.

Buying a used car through private sale? We’ve partnered with Verimoto to make the process easy, quick and secure. Verimoto is an asset identity verification system for important documents, like roadworthy certificates.

Apply now or get in touch

It's easy, secure and only takes around 10 minutes to apply.

Apply online anytime, or contact our team: Monday to Friday, 9am - 5pm.

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

Here's what makes you eligible to finance a used car:

  • 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
  • Buying a car up to 20 years old at the end of your loan term.

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).

When applying for a new car loan, we may take the following into consideration to determine your borrowing amount:

  • Credit score (your repayment history and due accounts)
  • Income and expenses
  • Existing debt (sometimes called liabilities)
  • Employment.

You can borrow a minimum of $5,000 for your new car loan, with a maximum loan term of 7 years.

The short answer is yes, but car loans tend to be offered at a lower interest rate as they are secured loans.

Personal loans can be used to pay for almost anything, from holidays or weddings, to home renovations or debt consolidation. As car loans are specific to financing a car, your new vehicle acts as security for the loan. With greater reliability on how the loan will be used, a lower rate is usually offered.

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

Yes, you can refinance an existing car loan from another provider if you can meet the eligibility and credit requirements.

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

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.

Yes, we offer vehicle inspections at RACV Accredited Auto Care Centres.

You’ll get an inspection report which assess the overall condition of the vehicle and gives you a recommendation on whether to go ahead with the purchase. The final buying decision is yours.

For more information, see RACV vehicle inspections.

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. 

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