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NRMA New Car Loan
Application Fee
Interest Rate (p.a.)
From 7.29% (fixed)
Comparison Rate (p.a.)
Max Loan Amount


Enjoy no ongoing fees and the ability to make additional repayments with the NRMA Car Loan.

The NRMA Car Loan gives you a convenient way to finance a new car or a vehicle that you’ve always wanted. You can also get a quick approval on the car loan and are not required to pay an ongoing fee.

Note: Members may be eligible for a 1% discount on the car loan interest rate.


  • Quick and easy application process
  • Low fixed-interest rates
  • No monthly fees


  • Minimum loan amount $5,000
  • $499 application fee for general applicants
  • $485 application fee for sub-prime applicants
  • $445 application fee for commercial applicants
  • Early termination fee of $205

In this guide

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  • Details
    • Product details
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Product details

Product Name NRMA New Car Loan
Interest Rate (p.a.) 7.29% to 16.99%
Comp. Rate (p.a.) 8% to 17.77%
Interest Rate Type Fixed
Min Loan Amount $5,000
Max Loan Amount $130,000
Go to NRMA's website

Main points to consider with the NRMA Car Loan

The NRMA Car Loan comes with a fixed interest rate of 7.29% p.a. and a comparison rate of 8% p.a.

The loan is suitable for a range of vehicle types, including new and used cars up to 3 years old, motorcycles, caravans and motorhomes. If you haven't chosen your vehicle yet, a pre-approval service is available. If you're an NRMA Member you can also enjoy an interest rate discount.

Features of the NRMA Car Loan

This loan comes with a range of competitive features and benefits which are outlined below.

  • Interest rate. Having a fixed interest rate allows you to easily budget for your loan repayments with the same regular monthly payment amount. The fixed interest rate for this loan is 7.29%
  • Discount for electric vehicles. If your loan is for an eligible fully electric vehicle you will recieve a 1.5% discount on your personalised interest rate. That means that Electric vehicle loan interest rates start from 5.79% p.a. (comparison rate from 6.49% p.a.)
  • Members discount. With an NRMA membership, you can take advantage of their exclusive member offer and get a discounted interest rate which means you can lower your repayments. The NRMA benefits save members 1% p.a. on the loan rate. This offer is available to new or used vehicles over 3 years old and is not applicable to vehicles eligible for the promotional rate of 7.29% p.a.
  • Loan terms. You can choose loan terms to help keep your repayments manageable – terms are available between 1 year and 7 years.
  • Repayment flexibility. NRMA Car Loan offers a fairly flexible repayment term option. You can choose to pay either on a monthly basis or on a fortnightly basis and can make extra payments anytime.
  • Loan amounts. You can choose to borrow between $5,000 and $130,000.
  • Pre-approval and quick turnaround. NRMA Car Loan offers you a five-hour pre-approval service which can give you a fast approval within five business hours. This provides you a better bargaining power with your car dealer to get the best deals possible by having the funds on standby. Once all the paperwork is completed by NRMA, your funds are made available to you by the next working day.

How to apply for the NRMA Car Loan

You can apply for this loan by clicking the "Go to Site" button. Just make sure you have the following documents on hand to complete the application process:

  • Your driver's licence
  • Details of your income
  • Details of the value of your asset, such as your car, savings, property, etc.
  • Financial details if you're currently renting a property
  • Details of amounts owed by you on any store credit cards, credit cards or loans

For conditional approvals, you are not required to submit any documentation. Once the car loan is conditionally approved, you will be asked to verify the details mentioned in your loan application, such as the address, your identity and income. However, NRMA will contact you if more information or details are required before approval in certain circumstances. Financial statements are required for self-employed applicants.April 2024

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Rebecca Finder

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October 09, 2023


I got a quotation for new car over the phoen. she said 7.34% for $40000 for 3yr.

its effected for a MyNRMA member discount.

when i check NRMA online it shows fixed rate is 6.99%.

which one should i trust?


Sarah Megginson Finder

October 13, 2023

Hi there, Interest rates are often priced based on risk, which is why providing accurate information when applying is really important. If you can find that lower rate online and you’ve entered all the same personal details as you shared when getting a phone quote, we recommend you contact NRMA and ask if they can offer you the lower rate. Best of luck!

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February 01, 2017


I applied for a car loan two days ago. At the end of application I was told I would hear from someone within five hours. I’m still waiting – now thinking maybe I don’t qualify but as a member a response would have been nice.



Anndy Lou Finder

February 01, 2017

Hi Ingrid,

Thanks for your question.

Kindly note that we are, a financial comparison and information website that helps users make better decisions, and not NRMA.

Please contact NRMA directly to confirm the status of your loan application.



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April 20, 2016


We attempted to apply for a new car loan as a joint application but when you get to the section where it asks for your employment details it would only let us enter the details for 1 person. We had selected joint application and entered the personal details for each person but we couldn’t enter the employment details. We tried to then call but it was after 6pm. Is it possible to do the online application in joint names or will we have to call the call centre?

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Elizabeth Barry Finder

April 21, 2016

Hi Kailie,

You should be able to complete the joint application online if it gave you that option initially. However, as the application is handled by NRMA you’ll need to get in contact with them directly.

Sorry I couldn’t be of more assistance,




February 06, 2016


I noticed some similar questions from a while back but I would just like some updated clarification on some things.

1. I see the comparison rate of 7.02% applies to a $30,000 loan over 5 years, how would the rate differ if it was 7 years and $35,000 for example?

2. It mentions that as an NRMA member there is a 1% discount for the above example instead of 7.02% it would be 6.02%, right?

3. I read in an earlier answer if the loan was paid fully three quarter is the term there would be a $200 or 2% fee which ever is higher, is this still the case? And would there be a fee for paying a larger amount for example $5000?


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Elizabeth Barry Finder

February 08, 2016

Hi Moses,

Thanks for your questions.

1) You can work out your repayments with our online personal loan calculator. Generally, over a longer period, there would be more fees associated with the loan and the total amount repaid would be higher with a lower comparison rate.

2) Yes, NRMA do offer a discount for members, however the 1% discount does not apply to the promotional 6.5% rate.

3) Yes you are correct, if you pay the loan back in under 70% of the loan term then you would pay the $200 or a 2% fee on the remaining balance, whichever is higher. However, you are able to make early repayments with no charge, as long as you don’t pay the total loan back in under 70% of the loan term.

Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.

Hope this helps,


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December 17, 2015

can I get a secured car loan for $12 000


Elizabeth Barry Finder

December 17, 2015

Hi Tara,

If you’d like to apply for this loan you can submit your application directly on the NRMA website.



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