^ Comparison rate calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments. WARNING: 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.

  1. Apply for loan

    Apply online anytime or call us on 13 15 60. You need your car details and personal information like your income, assets, liabilities and expenses.

  2. We'll review the application

    We aim to give you an answer as quickly as possible.*

  3. Get your funds

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

Estimate your repayments on your car loan^. We have flexible payment options - weekly, fortnightly or monthly.

Your estimated monthly repayment

No ongoing fees

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

Easy to apply

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

Discounts for members

Members get lower interest rates when they apply directly to RACV thanks to our Years of Membership benefit.** You'll also have access to a range of benefits.

Fast approval

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

A Target Market Determination is a document which describes who a product is appropriate for (target market), and any conditions around how the product can be distributed to customers. It also describes the events or circumstances where we may need to review the Target Market Determination for a loan product. View the Target Market Determination for RACV Secured Personal Loan (197.5KB).

How do I apply for a car loan?

You can apply for a new car loan, used car loan or green car loan 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).

How much can I borrow for a car loan?

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.

How do I make a repayment?

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.

What is a balloon payment?

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.

What's involved in the private sales process?

Once you've found a vehicle and 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.

What should I know before financing a car?

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.

I'm an RACV Member, will I receive a discount on interest rates?

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.

* 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.

** 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.

RACV 485 Bourke St, Melbourne VIC 3000