RACQ Car Loan Special

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Borrow up to $60,000 for a new or used car with flexible payment options.

RACQ's Car Loan offers a competitive fixed rate with flexible loan amounts, as well as a number of additional benefits including discounted car maintenance.

See if it's right for you below.


Application Fee

5.49% (fixed)

Interest Rate (p.a.)


Comparison Rate (p.a.)


Max Loan Amount

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Product NameRACQ Bank Car Loan Special
Interest Rate (p.a.)5.49% (fixed)
Comparison Rate (p.a.)6.16%
Interest Rate TypeFixed
Min Loan Amount$3,000
Max Loan Amount$60,000

Main points to consider with the RACQ Car Loan Special

You can apply for between $3,000 and $60,000 and get a loan term up to 7 years for a new car, or 5 years for a used car. If you're getting a loan for a used car, the vehicle must not be older than 12 years at the end of the loan term.

You won't be charged a penalty for making extra repayments and there is no monthly fee.

Features of the RACQ car loan

  • Fixed rate. You'll receive an interest rate of 5.49%, with a comparison rate of 6.16%.
  • Pre-approval of loan. Borrowers can get pre-approval for the loan, which allows them to find the best option within a given budget.
  • No ongoing fees. These loans do not have any ongoing monthly fees.
  • Flexible repayment options. The repayments can be made fortnightly or monthly according to your cash flow needs. There is a direct debit facility as well as an option to make extra repayments to reduce interest costs and finish the loan faster.
  • Discounted car maintenance. You can take advantage of discounts on car maintenance if you're approved for the loan.
  • Short processing time. The application can be submitted online, and approval over the phone is also possible. The outcome of the application is generally available within five business hours.

Fees and charges

  • Establishment fee. You will pay an initial fee of $395.
  • Loan document fee. You'll need to pay a fee of $82.50.

There are no ongoing or monthly fees.

How to apply for a RACQ car loan

If you want to take advantage of the benefits on offer, click 'Go to Site' to apply with RACQ. You'll need to meet the following eligibility criteria to apply:

  • You must be at least 18 years of age
  • You need to be a permanent resident/citizen of Australia or have a valid work visa
  • You need to have income sufficient to meet the loan repayments

If you meet these criteria you can submit an application. You will need the following documents on hand:

  • Identification. You'll need to supply proof of your identity, such as with your driver's licence.
  • Proof of income. Current pay advice or a group certificate will be required to prove your income.
  • Employment history. Applicants might be asked for proof of housing or their employment history to finalise the loan process.

It is important to have a competitive loan that can help offer smooth repayments and manageable interest. RACQ's car loan provides very competitive interest rates with flexible terms for borrowers. Before applying, it's better to compare car loans in the market before making a final choice.

Car Loan Offers

Important Information*
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IMB New Car Loan

You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

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Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 4.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 4.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.

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NRMA New Car Loan

You'll receive a fixed rate of 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.

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    Default Gravatar
    May 13, 2016

    my car is 2015 however I want to refinance it from another lender will I still get this rate

      Default Gravatar
      May 13, 2016

      HI Matt, What would that rate be

      Avatarfinder Customer Care
      May 16, 2016

      Hi Cory,

      At the time of writing this comment the RACQ Used Car loan rate starts at a fixed rate of interest at 9.45% p.a. You can find out more here and decide whether the loan is right for you.

      Hope this helps!


      Avatarfinder Customer Care
      May 13, 2016

      Hi There Cory,

      Thanks for your comment. RACQ will determine your eligibility when you apply. It is most likely as you are refinancing that you’ll be offered the rate with the RACQ Used Car Loan.

      Hope this helps.


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