3 things to do before taking out a car loan
Taking out your first car loan can be tricky – but not if you’ve done your homework.
Loan amount | Interest rates | Comparison rate2 |
---|---|---|
Secured loans | ||
$8,000 - $29,999 | 12.25% p.a. | 12.85% p.a. |
$30,000 - $49,999 | 10.80% p.a. | 11.39% p.a. |
$50,000 - $69,999 | 8.95% p.a. | 9.53% p.a. |
$70,000 and over | 7.95% p.a. | 8.52% p.a. |
There are no monthly account-keeping fees with RAC Finance. A one-off establishment fee of $399^ plus an $8.00 Personal Properties Securities Registration (PPSR) fee may apply. An early termination fee of $400 may apply if a loan is paid out in the first 24 months.
Applicants need to be:
Once we receive your signed loan documents and the loan has settled, your funds can be received.
- Funds via EFT or BPAY will arrive in the following 24 – 48 hours (time frames may vary depending on your bank)
There are no monthly account-keeping fees with RAC Finance. A one-off establishment fee of $399^ plus an $8.00 Personal Properties Securities Registration (PPSR) fee may apply. An early termination fee of $400 may apply if a loan is paid out in the first 24 months.
Gemma
Super easy process, communication was great, fast service all together. Have already recommended to a friend that is going through a similar situation.
Salvatore
In seeking a loan to partially finance a new car RAC offered the best interest rate. The application process was easy and approval quick with a one week turn around process to acquiring a new vehicle.
Gary
Ease of the application. Great local friendly staff who explained every step. Speed my funds were paid to the dealership so I could secure my new car at the earliest possible time. Good competitive rate.
Leon
The application process was very easy and simple. Pre-approval was very quick, and finalisation of the loan was also very quick and to top it off was an awesome interest rate.
Gavin
Customer service is excellent, and they keep in touch every step of the way. Everything happened in a timely manner. It’s a breath of fresh air to be able to deal with a local finance business and not eastern states where you’re just a number.
Considering a different personal loan? Take a look at the other personal loan options
As a member you get access to great discounts & offers
1Applications subject to RAC Finance Limited lending criteria. Fees and charges are payable. If the conditions of your loan have been met, the loan contract will be available for electronic signing the following business day and the funds will be processed by BPAY or EFT – 24-48 hours from settlement. Time frames may vary depending on your bank. Terms and conditions apply. Australian Credit Licence 387972. View useful RAC Finance documents regarding your loan.
2The comparison rates are based on a $30,000 personal secured loan for a five year term. Warning: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts will result in different comparison rates.
This information may be regarded as general advice. That is, your personal objectives, needs or financial situation were not taken into account when preparing this information. Accordingly, you should consider its appropriateness, having regard to your own objectives, financial situation and needs before acting on it.
*Discount applies to fully electric new and used vehicles, excludes Hybrid vehicles. Offer is subject to RAC Finance Lending Terms and Conditions.