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Why consolidate your debts with RAC Finance?
Here’s just a few of the benefits
Competitive interest rates from 7.95% p.a. (Comparison rate 8.45% p.a.)
Know what your repayments will be with a fixed interest rate.
No ongoing fees
We won’t charge you any monthly fees on your loan.
Sign your loan contract easily online
Quick, easy digital signing option.
Quick turnaround
Get your loan pre-approved in 7 working hours1 and receive the money fast.
Local service
Friendly service from a local, WA member organisation.
Get a quote & apply
Calculate your repayments and apply to consolidate your debts with a loan from RAC Finance.
Fixed interest rates from only 7.95% p.a.
Comparison rate 8.45% p.a.
| Loan amount | Interest rates | Comparison rate2 |
|---|---|---|
| Secured loans | ||
| $8,000 - $29,999 | 12.25% p.a. | 12.77% p.a. |
| $30,000 - $49,999 | 10.80% p.a. | 11.32% p.a. |
| $50,000 - $69,999 | 8.95% p.a. | 9.46% p.a. |
| $70,000 and over | 7.95% p.a. | 8.45% p.a. |
| Unsecured loans | ||
| All unsecured loans | 16.50% p.a. | 17.03% p.a. |
There are no monthly account-keeping fees with RAC Finance. A one-off establishment fee of $3491 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.
Frequently asked questions
What is the criteria for applying for a debt consolidation loan with RAC Finance?
Applicants need to be:
- Over 18 years of age
- Be receiving an income
- Hold a valid Australian driver's licence or learner's permit
- If you're offering a vehicle as loan security it must be registered in WA at time of loan settlement
- An Australian Citizen or permanent resident and reside in WA
- Free from bankruptcy for the past 5 years and not currently on a debt agreement
What is RAC Finance's loan approval time?
Once you submit your loan application, RAC Finance will be in contact within 7 working hours*.
Can I sign my RAC Finance loan contract electronically?
Yes. Docusign is an online platform that allows you to receive, accept and sign your documents with RAC Finance online. This means it's easier for you to accept your loan contract and speed up the time to process your loan.
What fees will I have to pay?
There are no monthly account-keeping fees with RAC Finance. A one-off establishment fee of $349^ 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.
What loan terms are available for a car loan or personal loan with RAC Finance?
At RAC Finance we can offer car loan and personal loan terms from 3 - 7 years. Actual terms may vary depending on your loan.
Can I make extra loan repayments?
With an RAC Finance car loan or secured personal loan you can make additional payments with no financial penalty. However, if you pay out your loan within the first 2 years of your loan term, an early termination fee may apply.
How can I find out the value of my current car?
If your car is insured with RAC Car Insurance, take a look at the agreed value on your RAC Car Insurance policy. This will give you an idea of what your car may be worth.
RAC members save more
Become a member when you get RAC Finance
1 Applications 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.
2 The 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.
