Frequently asked questions

You can apply for an RAC Finance personal loan either online, by calling 13 17 03 or in person at one of our Member Service Centres.

You can apply for an RAC Finance car loan either online, by calling 13 17 03 or in person at one of our Member Service Centres.

Yes! In fact, you become an RAC member once you take out a car loan or personal loan with RAC Finance. RAC members get great member benefits, including savings with our retail partners and discounts on RAC products and services.

You must be at least 18 years of age to apply for a car loan or personal loan with RAC Finance.

You must be an Australian Citizen or a permanent resident and reside in Western Australia to apply for an RAC Finance personal loan. Temporary visa’s are not accepted.

Yes, you must hold a current, unconditional Australian driver's licence or learners permit.  

To apply for a secured loan, you must have a current, unconditional Australian driver's licence. For unsecured loans a driver's licence is not required, however you must be a home buyer/owner in Western Australia and hold a valid passport. 

Your RAC Finance loan quote is valid for 30 days.

All lending is subject to lending criteria and is calculated according to your personal situation. At RAC Finance we can provide pre-approvals for our car loans and personal loans so you can have an idea of the amount you could borrow. 

At RAC Finance our minimum personal loan amount is $8000.

At RAC Finance our maximum personal loan amount is $100,000. If you would like to borrow more, please contact RAC Finance on 1300 736 290 to discuss further.

At RAC Finance we can offer car loan and personal loan terms from 3 - 7 years. Actual terms may vary depending on your loan.

Yes, you can have yourself and another person listed as borrowers on your RAC Finance car loan or personal loan. 

You need to be able to financially demonstrate that you will be able to pay back the car loan or personal loan over the loan term.

We have different requirements dependent on whether you’re employed full time, part time, casual or self-employed. Please contact RAC Finance on 1300 736 290 to discuss your personal circumstances further.

Yes, we have car loans and personal loans available to self-employed and contractors who have an ABN number. You will still need to be assessed and meet RAC Finances lending criteria.  

Yes. Apply online anytime for an RAC Finance car loan or personal loan. 

Electronic verification is where we will collect and verify your identity details in real-time against government, public and private databases. This process will save you time as you will not need to provide multiple forms of identification. 

A personal loan is an agreed-upon amount of money you can borrow from a lender, such as RAC Finance. A personal loan is required to be repaid to the lender with interest, over an agreed amount of time. 

An RAC Finance personal loan can help you upgrade to a new car, tackle your home improvements, go travelling, consolidate your debts and much more. Get a quick quote today. 

A car loan is an agreed-upon amount of money you can borrow from a lender, such as RAC Finance, to purchase a vehicle. The car loan is secured against the vehicle that you purchase and the car loan is required to be repaid to the lender with interest, over an agreed amount of time. 

Yes. RAC Finance provides business use loans for vehicles as long as they are being used 50% of the time, or more, for business purposes. Like any loan, it will be subject to approval criteria.

Yes, RAC Finance car loans can be used for vehicles purchased through car dealerships or through private sale. If through private sale, we strongly suggest you do a PPSR search prior to buying the vehicle. 

Yes, however by the end of the loan term the car must not by older than 15 years. Lending criteria will apply. 

Cars are rated by ANCAP (Australian New Car Assessment Program) and tested on how they perform in a crash. ANCAP awards star ratings indicating the level of safety cars provide in the event of an accident. New vehicles are awarded a star rating from 1 – 5 and the higher the rating the better the vehicle performed in the tests.  RAC encourages WA motorists to consider their safety when purchasing a new or used car. Vehicles manufactured in 2012 and beyond must achieve a minimum 4-star ANCAP rating to be financed through RAC Finance.  

Yes. It is a mandatory requirement to keep your vehicle comprehensively insured for the full period of the RAC Finance loan agreement. See RAC Insurance for a quote today. 

Yes. You can do this by taking out a new personal loan which repays all of your current debt. You then only have to manage the repayments for one personal loan. 

If you choose fortnightly repayments, your first payment will be due 14 days from when you sign your loan contract. If you choose monthly repayments your first payment will be due 27 days from when you sign your loan contract.  

No. However you will be able to make your loan repayments via direct debit, BPAY, or via cash payment at your local Member Service Centre. 

Yes, you can. We can conditionally approve a car loan before you decide on your dream car. Pre-approvals are valid for 30 days.

Normally no, but for jet skis, motorcycles and imported vehicles, RAC Finance may require a deposit. 

Yes! If you're looking for a well-earned getaway, a personal loan can help you afford the holiday you deserve. Apply online today. 

Yes! An RAC Finance personal loan can help you plan the wedding of your dreams. Apply online today. 

Yes! An RAC Finance personal loan can help you renovate your house and bring your DIY projects to life. Apply online today. 

Yes! An RAC Finance personal loan can help you with your next purchase. Apply online today. 

Yes! An RAC Finance personal loan can help you with your next purchase. Apply online today. 

Yes! An RAC Finance personal loan can help you with your next purchase. Apply online today. 

Yes! An RAC Finance personal loan can help you with your next purchase. Apply online today. 

No. For a secured RAC Finance car loan, you can only use one vehicle as security. 

To compare loans between different lenders, check out the comparison rate. The comparison rate will give you an idea of the true cost of the loan. The comparison rate is based on several factors which include the amount of the loan, the loan term, the loan repayment frequency, the loan interest rate and any fees and charges. 

A loan interest rate is a proportion of the loan amount that you will be charged. Your loan interest rate is expressed as a percentage and will depend on your loan amount. 

The loan interest rate will be calculated on the daily balance of your loan and debited to your account monthly. The amount of interest you pay over the course of the loan will depend on your loan amount and loan term. 

All RAC Finance car loans and personal loans have a fixed interest rate for the term of the loan.

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.  

RAC Finance car loans and personal loans come with an upfront fee including an establishment fee and may include government fees and charges. However, there are no ongoing or monthly fees.

No, there are no additional ongoing or monthly fees on an RAC Finance car loan or personal loan.

If you pay your car loan or personal loan out within the first 2 years of your loan term, an early termination fee may apply.

A credit check is a check on your personal credit file. Your personal credit file contains information on your borrowing history. RAC Finance will conduct a credit check on your personal credit file when we assess your loan application. 

Yes, you can check your credit history through Equifax.

Once you submit your loan application, RAC Finance will be in contact within 7 working hours*.

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)

It depends on your loan purpose and individual circumstances. Lending criteria will apply. Please contact RAC Finance on 1300 736 290 to discuss further.

Depending on the personal loan you choose, you can use a new or used car that is less than 12 years old, or a motorcycle, caravan, boat or jetski that is less than 7 years old.

You can make repayments on your RAC Finance car loan or personal loan either fortnightly or monthly. If you would like to make your repayments weekly, we can discuss this further after you submit your loan application.

You can choose to make your loan repayments weekly, fortnightly or monthly.

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.

Yes. Please contact RAC Finance on 1300 736 290 or email us at finance@rac.com.au to discuss further.

Yes. Please contact RAC Finance on 1300 736 290 or email us at finance@rac.com.au to discuss further.

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.

Yes. You will be able to accept and sign your RAC Finance loan contract on any device, all you need is access to the internet and your emails. 

Yes. The two-step verification process uses SMS and email which ensures only you can access your loan contract.

Yes. Once you have finished signing your loan contract you will receive an automatic email from RAC Finance with a copy of your signed loan contract. 

No. We can send your loan contract via email and you can print and sign it. Alternatively, you will be able to sign your loan contract in person at one of our Member Service Centres. 

The RAC Finance Account View Portal is an online portal where you can check out all the details of your RAC Finance loan or investment account in one convenient location. You'll have access to

• Loan statements
• Transaction history
• Account balance and interest rate
• Dates for future loan repayments
• Direct debit details
• Available payment options
• Helpful FAQ's about your loan

You can view your RAC Finance loan or investment account details in one handy place online through our RAC Finance Account View Portal.  You can either follow the link or simply log in to MyRAC and use your RIM (customer) number to log in. 

Setting up your access to the RAC Finance Account View Portal is quick and easy.

1. Login to myRAC (if you haven't done this already, you'll need to register before you continue)
2. On your Personal Loan product tile, click on the 'View my account details' button
3. This will take you to the login page for the RAC Finance Account View Portal. You will be required to enter the username and password below to activate your registration.

Username: your RAC Finance Customer/RIM number (this is not your RAC membership number). Don't know your RIM number?
Password: your date of birth: DDMMYYYY

Need help? Contact RAC Finance on 1300 736 290 or email finance@rac.com.au.

In the RAC Finance Account View Portal you can find details about your RAC Finance loan or investment including

• Loan statements
• Transaction history
• Account balance and interest rate
• Dates for future loan repayments
• Direct debit details
• Available payment options
• Helpful FAQ's about your loan

Your RIM number is your unique customer number for your RAC Finance loan or investment. It is not your RAC membership number.

You will find your RIM number on your RAC Finance welcome letter or by contacting RAC Finance on 1300 736 290 or finance@rac.com.au.

eStatements are electronic versions of your RAC Finance loan statements.

You'll receive an eStatement each quarter via your RAC Finance Account View Portal.

You will need to register for myRAC to access the RAC Finance Account View Portal.

Contact RAC Finance on 1300 736 290 or finance@rac.com.au

Nothing, it's free to receive eStatements.

You will automatically receive an eStatement for your loan via the RAC Finance Account View Portal. If you would like a paper statement, please contact RAC Finance on 1300 736 290 or finance@rac.com.au.

You will receive an automatic email from RAC Finance notifying you when a new eStatament is available.

Yes. Your eStatement will be available as a PDF document for you to print. 

Yes. Your eStatement will be available as a PDF document for you to save. 

eStatements can be accessed through the RAC Finance Account View Portal, accessed via myRAC. It is a safe and secure environment. 

Please contact RAC Finance on 1300 736 290 as soon as possible if you think you might have trouble meeting your loan repayments. We'll work with you to understand your current situation.

Please contact RAC Finance on 1300 736 290 as soon as possible. Alternatively, you can apply for support online through our financial hardship form. We'll work with you to understand your current situation.

Yes. We can speak to any authorised party as long as you have provided consent for us to speak to that party on your behalf.

Your compliments and positive feedback are greatly appreciated and help us know when we are doing something that makes our members lives better. Please feel free to leave a compliment here.

We want to hear from you to ensure our RAC Finance products and services are meeting your expectations. To speak with RAC Finance please call us on 1300 736 290. Or if you would like to provide further feedback to RAC please use the online form.