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Why choose RAC Finance?
Competitive interest rates from 7.45% p.a. (Comparison rate 8.16% p.a.)
Afford your dream car sooner.No ongoing fees
We won’t charge you any monthly fees on your loan.Quick turnaround
Get your loan pre-approved within 7 working hours.*Electric vehicle discount
Get 0.50% p.a. off the interest rate when you buy an electric vehicle*.Flexible loan terms & repayment options
Choose from 3-7 years, monthly or fortnightly by BPAY or direct debit.Fixed interest rates from only 7.45% p.a.
Comparison rate 8.16% p.a.
| Loan amount | Interest rates | Comparison rate2 |
|---|---|---|
| Secured loans | ||
| $8,000 - $29,999 | 11.25% p.a. | 11.98% p.a. |
| $30,000 - $49,999 | 9.80% p.a. | 10.52% p.a. |
| $50,000 - $69,999 | 7.95% p.a. | 8.66% p.a. |
| $70,000 and over | 7.45% p.a. | 8.16% p.a. |
There are no monthly account-keeping fees with RAC Finance. A one-off establishment fee of $499^ plus an $8.00 Personal Properties Securities Registration (PPSR) fee may apply. An early termination fee of $499 may apply if a loan is paid out in the first 24 months.
Frequently Asked Questions
What is the criteria for applying for an RAC Finance car or personal loan?
Applicants need to be:
- Over 18 years of age
- Be receiving an income
- Hold a valid Australian driver's licence or learner's permit
- You're an Australian Citizen or permanent resident and reside in WA
- Free from bankruptcy for 5 years
What is RAC Finance's loan approval time?
Once you submit your loan application, RAC Finance will be in contact within 7 working hours*.
How long until I get my money and how will I receive it?
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)
I haven't chosen my car yet. Can I get a pre-approval for a car loan with RAC Finance?
Yes, you can. We can conditionally approve a car loan before you decide on your dream car. Pre-approvals are valid for 30 days.
What fees will I have to pay?
There are no monthly account-keeping fees with RAC Finance. A one-off establishment fee of $499^ plus an $8.00 Personal Properties Securities Registration (PPSR) fee may apply. An early termination fee of $499 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.
Michael
Low interest rates, friendly customer service and super-fast processing.
Anita
Great customer service, easy and uncomplicated process.
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.
Not right for you?
Considering a different personal loan? Take a look at the other personal loan options
Get into your next ride sooner
Become a member for free when you get RAC Finance
As a member you get access to great discounts & offers
