Enjoy a low interest rate and quick approval with a car loan from RACV.
The Royal Automobile Club of Victoria, RACV, has been providing advice and support for car buyers throughout Australia's modern history.
Combine this experience with a competitive loan and you could be in the car you want without having to pay hefty fees or a higher than normal interest rate.
This loan is secured, which means it has a lower interest rate and allows you to use your car as security.
|Product Name||RACV New Car Loans|
|Interest Rate (p.a.)||From 5.99% (fixed)|
|Comparison Rate (p.a.)||6.53%|
|Interest Rate Type||Fixed|
|Min Loan Amount||$15,000|
- No monthly fees
- 5-hour loan approval
- Range of optional extras
- Higher than average minimum borrowing amount
- application fee
- Penalty for early repayments
Main points to consider with the RACV Car Loan
This is a secured car loan that comes with a fixed rate of 5.99% p.a.. You can apply for an amount above $15,000, for which you have up to 7 year(s) to repay.
When you apply you can receive approval within five working hours.
What features and benefits are on offer?
The RACV car loan offers a host of advantages which are designed to help you better manage your loan and protect your car.
- No ongoing fees. No ongoing fees are charged with this loan, helping you to keep your repayments down.
- Loan approval in up to five hours. RACV can grant you approval in five hours. Remember approval will depend on RACV's lending criteria, which will take into account factors such as your income, debts, assets and credit file.
- Flexible repayment options. You can make payments via direct debit, BPAY, cheque or in person at an RACV shop or Australia Post outlet.
- Optional features. RACV also offer a range of optional extras that you can consider taking on with your loan. These include RACV Comprehensive Car Insurance, which you can receive discounts on, RACV warranty, credit protection and Autosure protection.
What are the loan costs?
There are no ongoing fees with this loan, but there is an establishment fee of $380.
Looking to apply for an RACV car loan?
If you'd like to apply for the RACV Car Loan, you can click "Go to Site" to get your application started. First, you need to make sure you meet the eligibility criteria outlined below:
- Over the age of 18
- Working full-time
- An Australian citizen or permanent resident
- Be looking to borrow more than $15,000
- Want to buy a car less than 10 years old
Make sure you have your personal and financial details on hand before you start the application. Once you send in your online form, an RACV consultant will get in touch with you by the next day. After approval, RACV Finance will contact you to discuss how your loan would be settled. In most cases, the loan amount would be provided to you within 24 hours.