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RACV Car Loans

RACV car loans are available to borrowers throughout Australia, with members eligible for discounts. RACV makes decisions on car loan applications within five business hours. Car loans come with a 21-day loan satisfaction guarantee, which means that if borrowers repay their loan within three weeks, any interest and fees will be cancelled. RACV is primarily a motoring organisation, although it also operates in the home, leisure and travel, and retail sectors. RACV is owned by its members rather than shareholders. It was founded in 1903 and has more than 2,000 staff and more than 2.1 million members.

RACV car loan repayment calculator

Thinking about taking out a car loan with RACV? Use our car loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how RACV car loans compare with other options.

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RACV Car Loans rates

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About RACV

The Royal Automobile Club of Victoria (RACV) was first established in Melbourne as a motorists’ social club in 1903. The club operated to encourage and develop the motoring industry and actively sought to protect the rights of motorists. Today, RACV continues to support its community and 1.9 million members through its car insurance products and the RACV Foundation.

RACV can be contacted online or by phone, or you can visit an RACV shop for a face to face meeting, with locations throughout Victoria’s metropolitan areas and regional centres.

Features of an RACV Car Loan

RACV is renowned for providing car insurance and roadside assistance, but it also offers finance for new and used car purchases. RACV car loans have no ongoing fees, which helps to ease their impact on your budget, both from month to month and over the full loan term.

RACV new car loans start from $15K, and used car loans from $25K. Both loan options have fixed interest rates, and are secured against the value of your vehicle. If you join RACV, or are already a member, you may be eligible for further benefits.

Customer service

  • Customer service centre (phone)
  • Online
  • Email
  • Branch


  • No ongoing fees
  • Can apply in branch
  • Can apply online


  • Application fee charged
  • Requires security to be held

What RateCity says

Whether you’re looking at buying a new car or a used car, RACV’s car loans have lower-than-average interest rates compared to many other car loans on the market. When you also consider that these car loans have no ongoing fees to worry about, they can often prove to be affordable options, depending on your personal finances. It’s also possible to make extra repayments to pay more of the loan’s principal and reduce your total interest charges.

It’s also important to remember that RACV car loans require paying an upfront fee that’s higher than the market average. And if you make extra repayments and pay off your car loan early, an early exit fee will also apply. Finally, these car loans are secured by the value of your vehicle, so if you don’t keep up with your repayments, you’ll risk losing it.


To apply for an RACV car loan, you’ll need to supply your personal details, employment details, assets, liabilities and income. According to RACV, approval can be completed in as little as 5 hours, and once you’ve signed the paperwork, you’ll have access to your finance within 24 hours.


A bad credit car loan is a car loan for borrowers who have ‘bad credit’ or a bad credit history.

Some lenders refuse to offer bad credit car loans, because they believe there is an excessive risk that bad credit borrowers will not repay their loans. However, other lenders are willing to provide bad credit car loans.

Generally, these lenders charge higher interest rates for bad credit car loans than ‘prime’ car loans, reflecting the higher level of risk. Bad credit car loans may also have higher fees than prime car loans.

However, the big advantage of a bad credit car loan is that it allows borrowers with bad credit to access finance. Another advantage is that it could help bad credit borrowers improve their credit rating, assuming they make all their repayments on time.


^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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