RACQ car loans


The Royal Automobile Club of Queensland provides car loan products to thousands of Australians across the sunshine state and beyond. If your dream ride is only a loan away, find out what RACQ could offer you...

RACQ offers the following car loans

Product Interest rate from Comparison rate from* Upfront fee  

6.20% p.a.

6.73% p.a.based on $30,000
over 5 years


Go to site

9.45% p.a.

10.00% p.a.based on $30,000
over 5 years


13.95% p.a.

14.52% p.a.based on $30,000
over 5 years


9.45% p.a.

10.00% p.a.based on $30,000
over 5 years


* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are for the amounts and terms quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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RACQ car loan FAQs

What’s so good about having a fixed interest rate?

As you may have noticed in the comparison tables above, RACQ car loans have set rates. What this means is your repayments will stay the same over the life of the loan, so you won't be at risk of rate rises in the market. Keep in mind, that like many fixed rate loans around, you’ll be penalised in fees if you repay the entire loan off early.

Is it necessary to secure my car to the loan?

Yes...if you want a sweet interest rate! Securing your car is easy, you just need to fill out some more paperwork. In return, you’ll score RACQ’s most competitive car loan rate.

How much can you borrow from RACQ?

RACQ new car loans begin at $15k up to an amount based on what you can afford. In other words, if you want to buy a cheapie, compare other car loans in the market here.

What would my repayments look like?

Say you took out a $30k RACQ new car loan on a 5 year term. Based on the 7.03% comparison rate at the time of writing, our personal loan repayment calculator tells us your monthly repayments would be $594.

How frequently can I make car loan repayments?

Fortnightly or monthly, but not weekly. Pick one that speaks to your budget and set up an automatic payment if that’s easier.

How long do RACQ car loan contracts go for?

They range from 1-7 years. Work out what duration would suit you best. Remember, short loan terms mean higher repayments but less of a buildup in interest than lengthier ones, which have smaller repayment amounts.

Can I make extra repayments with an RACQ car loan?

You’re more than welcome to, but consider the potential early loan repayment penalty later on. You won’t have access to a redraw facility either, so choose wisely.

Can I repay the entire car loan early?

You can, but you’ll likely be charged a fee. Do the maths to see - whether making your standard repayments and paying the associated interest, or repaying the loan early and paying the penalty fee would make you financially better off.

Does RACQ have a redraw facility?

No, it doesn’t. If you’d rather have a car loan that does, compare other options here.

What if I don’t want to buy a new car, but a second hand or vintage one?

If you're purchasing an older model, then keep in mind you won't be eligible for RACQ's lowest rate New Car Loan. Instead you'll need to go for either its secured or unsecured personal loan, which both have higher interest rates attached. With the secured loan, you'll need to check with RACQ first to see whether the preloved car you want to purchase can be used as security.

Will I be penalised for making a late repayment?

You risk tarnishing your credit rating and may need to pay a fee. If you’re going to miss a due date, call RACQ pronto. Avoid future late payments by setting up a direct debit so you have one less thing to remember.

How do I apply?

Just scroll to the top of the screen and hit the “go to site” blue icon. Alternatively, sign up for an RACQ car loan by visiting the official site directly or speak with a customer service rep on the phone. Before you begin, it’s worth checking you are eligible. For instance, you must be 18 years or older, an Australian resident and have a clear credit history. Keep the following info handy when you apply too...

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