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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 | 10.95% p.a. | 11.68% p.a. |
| $30,000 - $49,999 | 9.55% p.a. | 10.27% p.a. |
| $50,000 - $69,999 | 7.70% p.a. | 8.41% 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.
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.
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.
Anita
Great customer service, easy and uncomplicated process.
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.
Natalie
The customer service on my application was excellent. The RAC staff couldn’t be more helpful if they tried. They pushed through the application and organised an instant payment as I live in the country and needed to go to the city to pick up car. Couldn’t have asked for better service. Alongside that we got a better interest rate and a discount on application fee as we have used RAC finance before. Very satisfied.
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
