RACQ personal loans


RACQ or the Royal Automobile Club of Queensland has been helping Queenslanders for over 100 years and in addition to roadside assistance, it also offers a range of car or personal loans to its members. From straight out car loans to secured and unsecured personal loans, here’s a look at the RACQ loans we compare here at Mozo. If you’d like to compare these with loans from other banking providers in our database, head over to our personal loans section.

RACQ offers the following personal loans

Rates and fees verified as correct at 19 February, 2017. Other information correct at the time of writing.

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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FAQs about RACQ Personal Loans

Can I only get a car loan for the purchase of a new car?

No, RACQ has two options. The lowest rate available is for new car purchases and this loan is secured by the car you are purchasing. To get a loan for the purpose of buying a used car, you’ll need to get RACV’s used car loan which has a higher interest rate.

Fixed or variable interest rates, which is better?

Fixed rate loans are great to help with budgeting as you’ll know exactly what your repayments are going to be for the life of your loan. Variable interest rate loans often have more flexible features such as the ability to make extra repayments or pay out the loan earlier without penalty. RACQ’s car loans have a fixed interest rate. If you’re looking for a loan for a holiday, wedding or other personal reason RACQ have variable rate loans.

What’s the difference between a secured and an unsecured loan?

When you take out a secured loan, you have to put up an asset as security in case you default on your loan payments. If you take out an unsecured loan, you do not need to put up an asset as collateral. But the trade off is usually that on a secured loan you’ll get a much lower interest rate.

How much can I borrow?

The amount of money you will be able to borrow will depend on your individual financial circumstances.

With RACQ the amount of money you will be able to borrow will also depend on the purpose of the loan. For secured loans there is a maximum loan amount of $100,000 but an unsecured loan, the maximum you can borrow is only $30,000. If you’re taking out the new car loan, the sky’s the limit, as long as you can meet the repayments.

Is there a minimum loan amount?

Yes, for unsecured loans the minimum is $5,000. For the new car loan and the secured loan, the minimum is $20,000.

How long will I have to pay back the personal loan?
When you first apply for the loan, you’ll be able to choose your loan term which is from 1 - 7 years. Have a play around with our loan borrowing calculator to gauge how changing the repayment time frame will change what your repayments will need to be.

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