Got questions about RAC's personal loans? We've got the answers.
How long is my RAC Finance quote valid for?
Your RAC Finance quote is valid for 30 days.
Can I get pre-approval for a car loan?
Yes, you can. Pre-approvals are valid for 30 days.
How much can I borrow?
All lending is subject to lending criteria and is calculated according to your personal situation.
What is RAC Finance's minimum loan amount?
The RAC Finance minimum loan amount is $8000.
How long are RAC Finance's loan terms?
Loan terms are available from 3 to 7 years.
What is RAC Finance's loan approval time?
RAC Finance will have an answer to you within 7 working hours.*
How long until I get my money?
It depends on the payment method. Once your loan is approved, documentation will be available for you to sign at your local Member Service Centre. If you prefer a cheque, it will be available for collection when you sign your loan documents. Electronic funds transfers will be paid 1-2 working days from signing your loan documents.*
How old do I have to be to get a loan?
You must be at least 18 years of age to apply for a loan with RAC Finance.
I am living in WA on an overseas visa - can I apply?
Yes, but the loan term can only be for the unexpired term of your visa (e.g. if your visa is for 5 years and you have been in WA for 18 months, then the maximum loan term is 3 years).
I want to apply for an RAC Finance personal loan.
Apply online today
Is RAC Finance a fixed or variable interest rate loan?
RAC Finance interest rates are fixed for the term of the loan.
Can I get a loan for an RAC loan for commercial or business use?
Yes. RAC Finance provides business use loans for vehicles as long as they are being used for 50% or more business purposes. Subject to approval criteria.
I have an international drivers licence - can I apply for a loan.
No. To apply for a secured loan, you must have a current, valid, unconditional Australian driver's licence. For unsecured loans a driver's licence is not required, however you must be a home buyer/owner.
Does RAC Finance need a deposit for a loan?
Normally no, but in the event of jet skis, motorcycles and imported vehicles, RAC Finance may require a deposit.