
Get exclusive money-saving offers and guides
Straight to your inbox
RACQ's Used Car Loan offers you a way to finance a car over two years old at a competitive fixed rate. The interest rate can even be further reduced by 1% if applicants are members of RACQ. Other benefits of this loan include quick processing, the ability to make extra repayments without penalty and a 21-day satisfaction guarantee which allows for the cancellation of the loan without penalty.
Find out what else you need to know to decide if the loan is right for you in this review.
$395
Application Fee
5.89% (fixed)
Interest Rate (p.a.)
6.44%
Comparison Rate (p.a.)
$60,000
Max Loan Amount
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Product Name | RACQ Bank Used Car Loans |
---|---|
Interest Rate (p.a.) | 5.89% (fixed) |
Comparison Rate (p.a.) | 6.44% |
Interest Rate Type | Fixed |
Min Loan Amount | $3,000 |
Max Loan Amount | $60,000 |
You can finance a used car over two years old with this loan as long as it is no older than 10 years old at the end of the loan term. The loan comes with a fixed rate of 5.89% p.a. and a maximum term of 5 years. You can borrow between $3,000 and $60,000 to finance your car and you won't need to pay a deposit.
RACQ offers attractive terms for its used car loans. Some of the main features of the loan are:
If you want RACQ to help you finance your used car purchase, click 'Go to Site' to get the application process started. Applicants must be at least 18 years of age and be a resident/citizen of Australia or have an approved work visa. You should also have sufficient income to make requisite loan repayments, and you also need a good credit rating. RACQ generally provides loans for $5,000 or more.
RACQ used car loans are an attractive choice for motor vehicle financing. Before applying, you should also look at other choices in the market to make sure the terms and conditions are ideal.