RACQ Bank logo

RACQ Bank Green Car Loan

Advertiser disclosure
Interest rate from
5.99% p.a.
Comparison rate from
5.99% p.a.based on $30,000
over 5 years
Upfront fee
$195.00

Mozo editorial review RACQ Bank Green Car Loan - last updated: 23 November 2023

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What's hot
  • Unlimited free repayments
  • No fees
  • Borrow up to $150,00
What's not
  • EV, FCEV, and Hybrid only
Mozo snapshot

If you are in the market for a green car loan, the RACQ Green Car Loan could be a great option. It has low fixed interest rates starting from just 5.99% p.a. (5.99% p.a. comparison rate*) and no upfront or ongoing fees. You also can choose whether you want to make repayments weekly, fortnightly or monthly, and you can pay off your loan early with no penalty. But how does this green car loan stack up against others? Well, one thing going for RACQ's Green Car Loan is a win in the 2024 Mozo Expert's Choice Awards in the Green Car Loans category. 

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Key features

If you’ve got your eye on an environmentally friendly car, then it's worth checking out the RACQ Green Car Loan. It offers fixed rates coming from 5.99% p.a. (5.99% p.a. comparison rate*) and loan amounts from $3,000 to $150,000 with a maximum term of 5 years. That covers a pretty broad range for you to grab almost any set of green wheels you’ve got your eye on. 

With the RACQ Green Car loan, you can purchase an electric vehicle (EV), plug-in hybrid electric vehicle (PHEV) or fuel cell electric vehicle (FCEV). Keep in mind, it does not cover hybrid cars that do not plug in.

You can choose from weekly, fortnightly or monthly repayments so you can personalise your repayment options to match up to your budget. You also have the option to make free extra repayments to pay off your loan quicker and save on interest, and there's no penalty for paying off your entire loan early.

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Who is it good for

People who want to invest in an environmentally friendly vehicle without breaking the bank. 

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Any catches

If you’ve got your heart set on a non-plug-in hybrid, then this is not the loan for you.

Picture of Ava Crawford
Ava Crawford
Money writer

Ava Crawford is an experienced journalist, who specialised in credit cards, personal loans and buy now pay later platforms here at Mozo until her departure in February 2023. Ava had also produced digital content for Foxtel's LifeStyle and FOXArena, and contributed to notable outlets such as The New York Times and ITV. She attended New York University and completed a degree in English and American Literature. She is ASIC RG146 (Tier 2) certified for general advice.

Details

Rates and fees information correct as at 5 March 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

Fixed

5.99% p.a. fixed

5.99% p.a.based on $30,000
over 5 years

Fees

$195.00

$0.00

$20.00

$0.00

0.0

Other financial bits

$3,000.00

$150,000.00

1 Year

5 Years

Vehicle

Features

-

Weekly, Fortnightly, Monthly

yes

no

none

none

WARNING: 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 calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Customer Reviews

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