RACV Car Loans

Weird and worst mob to deal with, pre approved and then made reasons not to go ahead without any evidence, so declined to proceed ( not an application decline tho) . Kyle the team leader, needs to get off her high horse.. what an obnoxious person. Show details

Excellence in service – My application was handled over the phone by Natasha and it was done quickly, 10~15mins. From the start until approval, it takes about 1 week. Which is reasonable, a friend of mine have experienced much worst. Then my case was handled by Liuping, whose are very knowledgeable and led me step by step till the settlement. I have heard many nightmare… Read more

stories about the paperwork and legal documents between financing and dealer, she is transparent and honest in explaining your rights and exit fees. I have a very good results with Liuping, Natasha and Sam. They are all very helpful. At the end, it's exactly the help needed for novice like me in getting a car loan.

Easy and simple – Unlike others on here, I have a fantastic experience with RACV Finance. My consultant made everything easy. Told me from the start what my rate would be and what documents I would need to produce, so I could get them together prior to having to produce them. When it came time to purchase the car, they dealt directly with the dealer on my behalf, and made sure I received every update. No issues, and great rate Show details

I'd just say thank goodness I didn't go through RACV. Terrible service had to log in to see if this had even been actioned, after waiting over 2 weeks for contact. i contacted them via email to cancel the application, it wasn't 5 days turn around like they advertised. I have had no communication at all just the generic email, and not even acknowledging they cancelled the application as requested

I trusted RACV Finance after they explicitly confirmed in writing that my loan was approved and would settle. Based on that, I cancelled another approved loan and paid a deposit for a car, only to be told later that they couldn’t fund it after all. They completely wasted my time, money, and trust, leaving me out of pocket and having to start the… Read more

entire process over again. They blamed my visa status even though I’m the secondary applicant and the primary applicant is an Australian citizen which makes no sense at all.

Their communication was slow and disorganised, causing unnecessary stress and frustration. This experience was not just inconvenient it was a financial and emotional disaster caused by RACV Finance’s incompetence and misleading information.

I strongly advise anyone considering RACV Finance to think twice their “approvals” mean nothing, and they clearly don’t stand by their word.

worst of the bunch – we applied for a loan, the worst place we have ever dealt with, they made up every excuse and took a week to approve even though we had more than we were borrowing in our savings. would not recommend Show details

Very easy to deal with even easier than my current bank who has everything! Our consultant Kapil was absolutely amazing. I couldn’t fault him at all. The whole process from applying to settlement was 2 days. He explained everything followed everything up and just made the whole experience drama free. The interest rate is also competitive and no hidden costs. We would have absolutely no hesitation in recommending RACV car loans to anyone. Show details

Loan application experience was smooth and flawless. Interest rate is super low, everything happened so quickly, I’m glad I went with a reputable company, plus I got 2 years roadside assistance free! Show details ·  1

Poor Communication – Applied for new car loan with RACV-as we were a Gold Member. They were keen to assist initially, but then left an email saying we did not meet eligibility. No other explanation given. Then could not get hold of Anita (in loans department). Went through car dealership and loan was approved in one day with better interest rate. They cited no… Read more

problems with our credit check. Have since cancelled two car insurance policies with RACV due to this poor customer experience, as life time members.

The worst Customer Service and the worst people to deal with even the Manager doesn’t know how to speak to Customer – I would not even give this as a one star this would be a zero star I’ve spoken to Manager name Josh and his staff kakali hang up on the phone He had the worst Attitude and the straightforward comes to you saying that I can’t help you he don’t want listen to the Customer? I wanna ask for further managers to he says no I’m the only manager in this whole department. Do not go with these people

Why can't we give zero stars? - horrid experience – They changed details on my application without informing me, including automatically increasing my "monthly expenses", but made no effort to find out more information about my circumstances and why I had put the amounts I had. Their changes resulted in my application showing $1500 more in expenses than income. They did not discuss these changes… Read more

with me, or give me any opportunity to amend or withdraw my application.

They gave me no information as to why my application had been declined other than "affordability", but no further explanation.

When I pushed for further information I found out the above. They then proceeded to reference the Lending Guidelines, but made incorrect and misleading statements about what is in those guidelines. They obviously didn't expect me to actually read them.

They told me they were "required to factor in the full rent" (despite the fact that I am sharing a lease), but that is a lie. On reading the guidelines, one discovers they are *required to consider* the applicant's circumstances, and they are "required to make reasonable inquiries" as to those circumstances. They made no inquiries at all.

When challenged, they continued to make inaccurate and misleading statements regarding the lending guidelines, and made multiple errors when communicating details of my application (eg. the got the amounts incorrect). I lodged a formal complaint which has gone unanswered.

I have lodged a complain with AFCA.

Good rates but shocking & slow service – I’m still waiting on my loan to settle and judging by the reviews who know if it even will. I’ve just finished paying off a much larger loan in shorter period that what I’m applying for never missed a payment good credit and decent income. Still declined, the only option was to also include my wife, together our income is 7 times the value of the… Read more

loan. So after finally hitting the approval stage every day it’s something else we need then that so on and so on. Then the seller need to start jumping through hoops, what a terrible experience. Can you imagine trying to sell your car all you want it to be paid sign a transfer form and be done. Not if your buyer goes through these guys. Friendly over the phone but never return calls or emails. So far so bad.

We were approved then they changed their mind – First time applying for a car loan so we shopped around. Decided to go with RACV as the sales person was very nice and seemed like he knew what he was talking about. However, the low rate that he said we would get, we actually didn't? which is OK. After going through all hoops, including providing documents, evidence, justifications and RACV… Read more

contacting our employers - we are now 'pre-approved' as stated in a 'Congratulations' letter we received. Then long delays starting happening, customer service said they couldn't track the pre-approval, now requesting more documents. We had to make the initiative to call as promised call backs weren't fulfilled. Apologies after apologies from them, and this is all happening while our car was sitting there in garage. After back and forth with customer service yet again for a week, on a daily basis they decided to call me and tell me my loan has been 'DECLINED' (lady on the phone seemed happy and wanted to emphasize that our conversation was being recorded - over 30 conversations together but she only wanted to tell me at this point). I did not once get angry, maybe came across a little 'pushy' as I did mention a few times that our car is sitting at storage, and that we would like the process to be quicker as we had already told the car dealership that our loan has been approved (what an embarrassment right?). However, I was very respectful and patient throughout the whole process.

My recommendation - DO NOT WASTE YOUR TIME WITH RACV CAR LOANS. We were approved within 12 hours with our bank with less documentations required and they didn't have to get other parties involved (i.e. my partner's and I's employer). Good ending to this story, we picked up the new car the next day but felt horrible having to go through the application process with RACV - everything would have been fine if you had declined me from the beginning? although I still don't understand why we were declined in the first place.

Shocking Experience – Terrible experience, consultant had no idea what was going on, claimed to have sent emails that never came. Stay away, the service is shocking. Will try another provider with consultants that actually know their process.

Absolute crap! Stay away – I have strong savings and good income flow to be able to add more than $35k an year you savings less expenses. I was initially quoted 5.5% for a used car loan. After a 2 week long process and submitting all the required information. Been told that algorithm spits out numbers that don’t show great serviceability but they are still happy to offer… Read more

me a car loan at 8.79% with a $700 application fee.

Absolute rip off. There are much better lenders in the market that, stay off this one.

Absolutely pathetic, useless..Dont waste your time and money – I would give them a zero star option if its an option as I took a car loan..Was told that I can pay extra without any penalty and then charged me Early termination fees. Took them to Financial ombudsman/AFCA and still didnt had the courtesy or common sense to apologize or resolve the complaint. Absolutely pathetic and garbage customer service and… Read more

not even worth going with this company. Will never deal with this company again as useless. One of Female staff member absolutely clueless and lacking even common sense told AFCA that I had taken my loan out in 2018 when I had only signed up in 2019 ?? Shame on you RACV and trying to rip off the people who dont know your tricks and then pretend that you didnt gave the customer any wrong information. Wouldnt suggest going with RACV on car loan when there is plenty other companies out there.

Liars – I took a car loan with RACV for 5 years. The loan had THE Consumer Credit Insurance (CCI) premiums. When the loan was taken, the RACV guy told us that we would get a part of CCI back if the loan is repaid sooner. When we repaid the loan in 2 years and I claimed the CCI proportional component, I was told that the refund method takes into account… Read more

the higher level of risk at the beginning of the insurance term where the loan balance is higher, by allocating more premiums in the earlier months of the loan than in the later months. Effectively this means that if the loan is repaid in 2 years, the CCI refund is zero. This is not was we were told when getting the loan but my compliant to RACV was not resolved to my satisfaction. So, these guys are simple liars. After having my case reviewed with zero result, I withdrew two insurance policies for my house and car from RACV. So, you RACV lost a customer and money in the end. Don't go with RACV when buying a car, there are better loan providers out there.

Rude and arrogant – Inquired about changes to my loan from secured to personnel as in starting a new loan and ending the old one so as to sell my motorcycle. The man who phoned me was quite rude and short with me and his tone was very arrogant. I was told they don't do unsecured personnel loans and to pay my loan off. I checked their web site again and they advertise… Read more

unsecured personal loans. So write to them pointing this out. I was told that's only for new customers. Went to Ratesetter, got an unsecured personnel loan at 8.49%, lower than the secured loan and friendly service. Paid them out and selling the bike to release the funds tied up in it. Will never deal with RACV again. The lady I spoke to for the payout figure was really nice. But not the actual loans department

I'm with RACV – RACV finance was there for me when all others rejected my car loan application 2 1/2 years ago. Wished there were more like them. As a customer, I am satisfied with RACV finance and look forward to engage them again in future. Many thanks! Show details

Inconsistent – Found them to be a very mixed bag, one person would tell me one thing and then the next time I call up someone would tell me another. When first signing up, got a few extra cost added on, like the GAP policy, I was made to pay it at the last minute, even though I could prove my insurance value rate was way above the loan amount

Never borrow from racv – The ad says 5 hrs to complete the process, what a load of rubbish. 3 weeks later and we're still jumping through hoops. They make it impossibly hard. Having a house, cars, a business, and assets means nothing to them. Just when you've covered all bases they more the goal post and want more useless information. 3 weeks is a bloody joke. Show details

RACV - Entire process is misleading process- Total Waste of time – Nothing like what they advertise- I put an application, the process is very complicated and misleading. They try and find mistakes in your application to jack up the interest rates. The staff was rude and discourteous. Don't waste your time with them.

Lie about your credit score – Had a loan with them. Never missed a payment. Went to refinance and they said the interest rate will go up due to us being a risk. But couldn't tell us why. Made up numerous excuses that didn't make sense. Like credit score was low due to hits on our credit profile. They were the only hit. But now we can't go elsewhere because they have put… Read more

hits on our profile.

We did 6 checks on our score and all came back substantially higher.

Just another legal scam

OK customer service but bad rates and no transparency – The customer service is ok but there is no ability to check your outstanding balance without calling them. They have no online system and do not provide regular statements of account. If you want to be able to track your debts responsibly and make regular extra payments it is tough to know exactly how much you owe at any time. Every time you call… Read more

customer service says that IT is working on an online system but they have said that for years with zero progress.

Different rate at time of enquiry and pre-approval – I made a call to [name removed] [name removed] said to me 5.69 rate which is mentioned on the website. I specifically enquired how old the car should be. [name removed]y said maximum 14 years old at the end of the term of the loan. When I called again to make the pre-approval application [name removed] who is sitting next to [name removed]… Read more

offering me 7.11 and said to me to get 5.69, the car should be 2 years old. They don't stick to the rate what they offer. so i dropped the idea of pre approval from them. Will go with some other bank.

Ridiculous expectations – If you are after a car loan I advise you to go anywhere else, the low interest rate is just not good enough to offset the poor service and ridiculous hoops you have to jump through to even get the smallest of loans, wouldn’t recommend to my worst enemy.

Great customer Service – Tiffany was so helpful and patient when I asked every question possible! She understood I needed a fast answer and was incredible at keeping me updated and helping my application progress. She gave me her direct number and I never had to wait in a cue to speak to someone. Overall very easy process for my first car loan!

Red tape – I am selling a car to a young guy who borrowed through RACV, after 5 requests for further paperwork and a smarmy brat on the other end of the phone, I will NEVER sell a car to someone who has RACV finance again. I had to sign sale documents provide bank and BSB details and provide the roadworthy certificate up front, without one cent going in to… Read more

my account. The sale has not completed yet so I'm not even sure the RACV is going to honour the loan, we live in hope.

No idea what's going on – Applied for a car loan as their rates were quite attractive, went through budget well and truely afford it. There was an incorrect default on my account from Origin, they apologised and had it removed from Equifax/Veda immediately & emailed me an apology, same thing happened as with NAB 2 yrs earlier for a home loan but they saw the obvious issue… Read more

and granted my loan immediately but RACQ wanted a particular letter head (that Origin blatantly said was impossible). After chasing them for weeks the RACQ consultant went on holidays and so did my progression, after of course, they left a credit check on my credit file. Cheers for nothing RACQ Loans