
Used car loans from 8.49% p.a.* (comparison rate 9.21% p.a.^)
Key features:
- Vehicles up to 20 years old at end of loan term
- Maximum loan term of 7 years
- No ongoing fees
- Dealer/private sale acceptable
^ 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.
Estimate your repayments on your car loan^. We have flexible payment options - weekly, fortnightly or monthly.
Get keys to your car and give a second home to a pre-loved vehicle. Our competitive interest rate with no ongoing fees and flexible payment options will have you behind the wheel sooner.
Purchasing a used car through private sale? We want to make the process easy, quick and secure. We've partnered with Verimoto, an asset identity verification system, to ease the stress of sourcing important documents, like roadworthy certificates.
It's easy, secure and will take around 15 minutes to complete an application.
You can apply online anytime, or call our team between Monday to Friday, 9am - 5pm.
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 fees.
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).
Here's what makes you eligible to finance a used car:
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 can borrow a minimum of $5,000 for your used car loan, with a term length of 7 years.
Once we've reviewed and accepted your application, in most cases you'll receive funds within 24 hours.
If you're looking to finance a used car, here are some things we may take into account to determine your borrowing amount:
The short answer is yes. but car loans tend to be offered at a lower interest rate.
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 used 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).
A used car loan rate is applied to vehicles up to 20 years old by the end of the loan term. A used car can be financed for a maximum of 7 years.
These second-hand or pre-owned vehicles may be brought from a dealer or private sale.
Yes, we offer vehicle inspections at RACV Accredited Auto Care Centres.
Here's how it works:
For more information, see RACV vehicle inspections.
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 used car loans, based on years of membership:
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.
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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.
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