Comprehensive car loans from RACV

New car loans from 5.69%* (comparison rate 6.39%^ p.a.)

Used car loans from 6.49%* (comparison rate 7.19%^ p.a.)




Your estimated monthly repayment
$293

* Conditions, fees and charges apply. Rate subject to change without notice. ^ 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 applies only to examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw or early repayment fees and cost savings such as fee waivers are not included in the comparison rate, but may influence the cost of the loan. RACV Finance is subject to RACV lending criteria.  R.A.C.V. Finance Limited ABN 82 004 292 291 Australian Credit Licence No. 391488.

  • No ongoing fees

    Which means lower monthly payments for you.

  • Easy to apply

    Your loan application will take around 10 minutes – online or over the phone.

  • Fast approval

    Usually within five working hours.

  1. 1

    Complete the form online

    First, we need to know a little about you.

  2. 2

    Get approval

    You will know within five working hours of submitting your application

  3. 3

    Secure funds within 24h

    Once approved, we’ll call you to work out the details. In most cases the money will be sent within 24 hours.

  • Savings on car insurance***

    If you finance and insure your vehicle through RACV you could access savings of up to 10%# on the cost of your comprehensive insurance for the full term of your loan.

    # Savings are only applicable when comparing a comprehensive car insurance quote where the car is used as security by a Secured Finance Company.

  • Satisfaction guarantee

    We know you’re getting a great deal on your loan but it’s important you are sure too. That’s why we offer a 21-day Loan Satisfaction Guarantee^^. 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 any fees.

  • 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.

  • Balloon or residual payments

    These reduce your monthly repayments but you will still owe a lump sum at the end of your loan. You get a nicer car but pay more interest on every payment to do so.

  • 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.

Took all the worry out of buying the car and made the process very easy.

Real testimonial extracted from the 2019 RACV Finance customer feedback survey

The process was smooth and the customer service exceptional.

Real testimonial extracted from the 2019 RACV Finance customer feedback survey

The application was straightforward and the car purchase went very smoothly.

Real testimonial extracted from the 2019 RACV Finance customer feedback survey

What do I need to apply?

You will need to supply your personal details, including your driver licence number, employment details, assets, liabilities and income. We will verify this information with you later.

How do I make repayments?

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

Do RACV's Years of Membership Benefits apply?

Yes, Years of Membership Benefits apply to all consumer loan applications (subject to approval) made directly through RACV. Any loan application introduced through a broker/intermediary will not be eligible to receive the discount.

Years of Membership Benefits discounts for new cars

Years of Membership Benefits discounts for new cars

Bronze

5-9 years

Silver

10-24 years

Gold

25-50 years

Gold 50

51+ years
Annual discount available for RACV products

5%

10%

15%

20%

Interest rates

From 5.41% p.a.

From 5.12% p.a.

From 4.82% p.a.

From 4.55% p.a.

Years of Membership Benefits discounts for used cars

Years of Membership Benefits discounts for used cars

Bronze

5-9 years

Silver

10-24 years

Gold

25-50 years

Gold 50

51+ years
Annual discount available for RACV products

5%

10%

15%

20%

Interest rates

From 6.17% p.a.

From 5.84% p.a.

From 5.52% p.a.

From 5.19% p.a.

**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 Motor Insurance is issued by Insurance Manufacturers of Australia Pty Limited ABN 93 004 208 084 AFS Licence No. 227678. Please consider the Product Disclosure Statement before buying. For a copy call 13 RACV (13 7228).You may be eligible for savings on your premiums. Savings on your car insurance depends on your individual circumstances.

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