RACQ New Car Loans

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With a 6.17% p.a. rate and flexible repayments, RACQ makes it easier to get your new car on the road

Having your dream car is a major milestone in life, and it's made easier to reach with the RACQ new car loan. The loan comes with a competitive rate and a quick processing time, with a reply guaranteed within five business hours. Customers can also have their loan pre-approved, letting them look for the ideal car within the approved budget. Take a look at the competitive features on offer from RACQ, and see if the new car loan can help you get into your next car.

Things to consider about RACQ new car loans

Product NameRACQ New Car Loan
Interest Rate (p.a.)6.17% (fixed)
Comparison Rate (p.a.)6.72%
Interest Rate TypeFixed
Min Loan Amount$3,000
Max. Loan Amount$60,000
Loan SecuritySecured


  • No ongoing monthly administration fees
  • Flexible repayment options
  • Short processing time


  • Minimum loan amount $3,000
  • Higher application fee
  • Redraw or early repayment fees my be charged

The competitive fixed rate interest is among the biggest draws for this loan. There is an option for borrowers to opt for pre-approval, which would give an indication about the possible budget you can have. This helps in the selection of the car and makes the buying process smooth. It also has a 21-day Satisfaction Guarantee clause where users can repay the amount within 21 days and cancel the loan without any penalty.

Features of RACQ new car loans

Besides the attractive interest rate, there is a couple of other features which make this loan option one to consider.

  • 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.
  • Fixed rate. The loan comes with an attractive interest rate of 6.17% p.a. if you qualify, and it is a fixed rate which helps in preventing future repayment increases.
  • 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 administration fees.
  • 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.
  • Satisfaction Guarantee. The loan also comes with 21-day Satisfaction Guarantee. This allows you to cancel the loan within 21 days by repaying the entire loan in case you're not satisfied.
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How to apply for RACQ new car loans

If you want to take advantage of the benefits on offer, click 'Go to Site' to apply with RACQ.

Eligibility criteria

  • 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

Documents that are required

  • Identity proof. You'll need to supply proof of your identity, such as with your driver's licence.
  • Income proof. 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 new car loan provides very competitive interest rates with flexible terms for borrowers. Before applying, it's be better to compare other loans in the market before making a final choice.

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4 Responses

  1. 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

    • finder Customer Care
      MattMay 16, 2016Staff

      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!


    • finder Customer Care
      MattMay 13, 2016Staff

      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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