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NRMA Car Loans

NRMA Car Loans

3.1 from 11 reviews

Reviews

Review distribution

5 star
4
4 star
1
3 star
1
2 star
2
1 star
3

Cheese S.

Cheese S.Sydney, NSW

Apply for a car loan and they don't know your buying a car.

published

Very slow to respond. Started calling at 10 in the morning to settle car loan. Kept getting told my contact would return my call. Finally at 1330hrs 3.5 hours later and 4th phone call i cracked it and was told that my contact was not in today. Requested loan contract to settle loan. Was informed not possible as i did not tell them i was buying a car today. Hello??? loan approved a week ago. Been phoning since 10am. Payslips, bill of sale, contract sent, drivers licence sent. 4 phone calls with messages stating i am at dealership trying to settle. Expected a far more professional operation from the NRMA... Don't waste your time.

Transparency
Customer Service
Application Process
Timeliness
See all answers

Patrick H.

Patrick H.Richmond-Tweed, NSW

Poor Communication

published

Applied for a loan with NRMA Finance as I had been a member for over 30 years. Supplied all my financial information and was told I did not meet the loan servicing ability, which I found odd. Contacted them and said fair enough then I will only borrow half the amount. Was then told that I did not meet their policy requirements and to contact them if I had questions. Email them back and asked what requirments were they talking about. Dead silence. No response. They are sounding more like a bank. After 30 years membership with NRMA I did not think I would have been treated like that. Don't waste your time dealing with them.

Transparency
Customer Service
Loan TypeVariable Rate
1 comment
MyNRMA
my n.MyNRMA
Millie

MillieSydney

Great rates and so flexible

published

Recently took out a loan with NRMA, the 5.99% rate is so great and the team were super helpful and fast through the application process, which always makes a massive difference for a positive experience. Made it so easy to get me behind the wheel. Being both competitive and reliable I genuinely recommend them.

Really happy with rate and service

published

The online system was easy and it all went through quickly, plus the NRMA member discount was very good. :)


Ged

GedSydney, NSW

Amazing

published

The NRMA car loan team are awesome, great communication, great rate and great service! Highly recommend these guys for a car loan!


Sam B

Sam B

  • 2 reviews
  • 2 likes

Flexible and friendly

published

Great rate, no monthly fees and easy process to go through. Have been an NRMA member for a long time and nice to see they are looking out for me in other ways


5 hour response?

published

The NRMA claim to get back to you after 5 hours, yet two days later still haven't received a response. What a shame, my business is going elsewhere...


  • Verified customer

Punished for paying out early

published

Be warned, NRMA may offer lower interest rates, but there will be a penalty for paying out your loan early. This extra $200 + at the end of the life of your loan, means that what should be an exciting day, celebrating a financial goal achieved, is experienced as a kick in the pants on your way out the door. Another cash grab, for a customer with other products from this provider and a 100% payment rate.

chann

channsydney

Stay clear, horrible staff, give you the run around, not worth the trouble or credit check on your p

published

Gave me the run around, asking me to put in my own savings and lessening the amount that I applied for despite being deemed eligible by other finance companies, rude staff and very slow response. Take your business elsewhere. I put in a complaint and didnt get a response and apparently the manager doesnt take calls..
low interest rate offered
bad service, bad application process, bad communication

Best rate around

published

Don't believe the 48hr loan approval, it took me close to 2 weeks and that was inquiring most days to see where it was up to. Because NRMA is just a go between the Peoples Choice Credit Union sometime the left hand doesn't know what the right hand is doing. If it wasn't for the great interest loan rate I would have gone thru my bank.
Best car loan rate around, and you can't beat that no matter how frustrating at times
Alot of paper work . Drawn out loan approval process between NRMA and credit union. lack of communication


tim29

tim29

  • 2 reviews

Good

published

If you are an NRMA member then they offer great rates and everyone we spoke to was helpful. I would recommend them.
Helpful staff, damn good rate (I mean damn good!)Let us borrow a considerable amount more than the value of the car.
A lot of paper work to get started, way more than any bank. In fact, we only rang to make an enquirey, but had to provide them with a heap of information to get an answer (in fact they never actually answered our question, but seeing as though we have a car loan with them you can assume we figured it out).

Questions & Answers

Melanie W.

Melanie W.asked

If I were to make extra payments to my loan throughout its duration, does that mean my weekly payments go down as I have less to pay off in the long term??
For example, a $15,000 loan - if I pay $5000 of that at one time will my weekly payments reduce so that I still pay it off over the 4 years??

Thanks

3 answers
Ged
Ged

Great question not sure, give them a ring

MyNRMA
my n.MyNRMA

Hi Melanie, No, it is a fixed term loan therefore your repayments are set at a minimum rate over the duration of the loan.

If you pay extra, you have the opportunity to use some of the surplus as a way to make your repayments but that is something you must organise and be accountable for yourself. Cheers, Paul

Melanie W.
Melanie W.

Ok so basically the end amount remains the same even if I make additional payments. Thank you for answering!


Stephanie O.

Stephanie O.asked

HI. Just want to clarify once the loan is approved, are the funds deposited into my account or the person we are buying the vehicle off?

1 answer
NRMA Insurance
Care TeamNRMA Insurance

Hi Stephanie. Thanks for your question. If your loan is from NRMA, it is most likely through The NRMA motoring and services organisation. They are different to NRMA Insurance in that they are a members based organisation that provide services and many things. However we just focus on Insurance. This link might help you www.mynrma.com.au/cars-and-driving/buying-a-car/car-loans ~ Jono


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CategoryCar Loans

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