Car loans
Whether you are after a loan for a new or second-hand car, or looking to refinance, RAC offers loans that are quick, simple to understand and, most importantly, a really great deal.
Why choose RAC for your unsecured loan?
Competitive fixed interest rate of 16.50% p.a. (comparison rate 17.03% p.a.)
Know what your repayments will be with a fixed interest rate.Sign your loan contract easily online
Quick, easy digital signing option.No ongoing fees
We won’t charge you any monthly fees on your loan.Borrow up to $20,000
You can borrow between $8,000 and $20,000 with an unsecured loanQuick turnaround
Get your loan pre-approved in 7 working hours and receive the money fast.*Easy to apply
Apply online, over the phone on 13 17 03 or in person at one of our Member Service Centres.Get a quote & apply
Calculate your repayments and apply for a loan
Fixed rate of 16.50% p.a. on your unsecured loan. Comparison rate 17.03% 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.
Terms and conditions
* 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.
* Loan comparison rate
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.
Frequently Asked Questions
What is the criteria for applying for an RAC unsecured loan?
They must met our eligibility questions:
- You're over 18 years old
- You have a current Australian drivers licence or learners permit (Passports acceptable for unsecured loans)
- You're an Australian Citizen or permanent resident and reside in WA (temporary visas are unacceptable)
- You have not been bankrupt during the past 5 years, or are currently on a debt agreement
- If you're offering a vehicle as loan security it must be registered in WA
- You're currently receiving an income (If self-employed a notice of assessment dated no older than 18 months is required to verify your income) and
- Be a homeowner
What's the difference between a secured and unsecured personal loan with RAC Finance?
A secured personal loan is a loan that has an asset offered by the borrower as security over the loan. If you're looking at buying something like a car, you can consider a secured personal loan. An unsecured personal loan is a loan which has no asset held as security. You are required to be a home/land owner or buyer in WA to apply for an unsecured loan. Lending criteria will apply.
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.
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)
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 an unsecured loan with RAC?
Choose from a 3 to 5 year loan term.
How much can I borrow with an unsecured loan from RAC?
You can borrow between $8,000 and $20,000 with no monthly fees for an unsecured loan.
RAC members save more
As a member you get access to great discounts & offers
