Important disclosure

RACQ Car Loans

Are you an existing RACQ member looking to finance your next set of wheels? You’ll be pleased to know RACQ Bank has an irresistible offer for you. Not only can you get new or used car finance at a competitive rate, but you can also enjoy a suite of membership benefits. Plus, with an online loan application that only takes 10 minutes, getting what you want is a breeze.

Compare RACQ car loans and calculate repayments below to get things moving.

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Loan Amount



5 months


New Car Loans

EST Monthly Repayment
Advertised Rate
Advert. Rate (p.a)
Comparison rate
Rates from 6.99%*p.a Comparison Rate 7.52%^p.a

Used Car Loans

EST Monthly Repayment
Advertised Rate
Advert. Rate (p.a)
Comparison rate
Rates from 9.45%*p.a Comparison Rate 10.00%^p.a provides factual information in relation to financial products. While attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at time of publishing. The information published on is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with recommends that you read the relevant PDS or offer documentation before taking up any financial product offer. For more information please see's Terms of Use and Services Guide.

Minimum and maximum loan periods vary between 6 months and 10 years. Comparison interest rates vary between 6.55% and 19.07% p.a. Total interest repayments vary between $4,290 and $14,531 over the life of the loan. *Comparison rate is based on an unsecured loan of $30,000 for a term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

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RACQ car loans – Apply for low rate secured car finance

RACQ is Queensland’s largest club, and it has been representing the interests of local motorists since the early 1900s. Today, RACQ is still in the business of helping Queenslanders with road-related products, from insurance and roadside assistance to car parts and car finance.

While on the subject of car finance, check out these need-to-know details about RACQ car loans.

RACQ car loans in a nutshell

An RACQ car loan offers between $3,000 and $60,000. The maximum loan term is seven years for new car finance or five years for used car finance. To qualify, the car must not be older than 12 years by the time the repayment period expires.

  • Benefits. Flexible finance options such as no deposit and the ability to make unlimited extra repayments with no penalty.
  • Drawbacks. You have to pay an establishment fee and a document fee. There’s also no redraw facility for accessing your extra repayments.
  • Best for. Existing members looking for a competitively priced car loan and who don’t mind offering their car as security.

Please note, the RACQ car loan is only available to existing customers.

How do RACQ car loans work?

You may already be familiar with RACQ personal loans, but they work a little differently from car loans. For starters, personal loans cover many purposes, such as debt consolidation, home renovations, and weddings. On the other hand, RACQ Bank car loans are only meant to cover vehicle purchases, whether you’re buying a new or used car, boat, caravan, or jet ski.

Additionally, the car loans are secured, meaning the vehicle you’re buying acts as security for the debt, hence the lower interest rate. Also, note that RACQ car loans come with the following features:

  • Fixed interest rate. This is a no-surprises car loan with fixed repayments you can budget for ahead of time.
  • Weekly, fortnightly, or monthly repayments. Choose whichever option suits your pay cycle. If you start off with monthly repayments, it’s possible to increase the frequency of your repayments. You can also use our RACQ car loan calculator to tailor the repayment amount to your budget.
  • Unlimited additional repayments. RACQ allows you to make extra repayments on top of the required monthly minimum. The bonus is, there’s no penalty charge if you manage to pay out your debt at an earlier date.

Rates, fees, and charges

RACQ’s fixed rate car loan special comes with an interest rate of 5.49% p.a. Additionally, here’s what to expect when it comes to fees and charges:

  • Establishment fee – $395
  • Annual and monthly fees – $0
  • Additional repayment fee – $0
  • Early payout fee – $0
  • Document preparation fee – $82.50

What you’ll need

  • Must be single or joint application only.
  • Applicants must be at least 18 years of age and permanent residents of Australia.
  • Provide details about your employment, income, expenses, liability, and assets.
  • Applicants must not have declared bankruptcy or insolvency, and they must not have defaulted on any debts in the last five years.
  • Applicants must not have entered into any composition or arrangement for the benefit of creditors.

If you don’t fit this criteria, you can still contact RACQ to discover options applicable to you.

Applying for an RACQ Bank car loan online

  • Get the ball rolling. You can start the application process right here on this page by clicking the “Go to Site” button in the table above.
  • Complete the online application form. Filling in the required details in the car loan form takes not more than 10 minutes.
  • Finalise the process. Once RACQ reviews your application and gets back to you, you may be asked to provide supporting documents.
  • Accept the offer. If successful, you’ll receive more paperwork to complete and send back.
  • Get the cash. With the process complete, RACQ will then transfer the money into your bank account.

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