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RACV Car Loans

RACV Car Loans

2.3 from 28 reviews · View Statistics
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Reviews

2.3
28 reviews
  • Transparency
    3.0 (7)
  • Customer Service
    2.7 (9)
  • Loan TypeFixed Rate (7) and Variable Rate (1)
  • Application Process
    3.1 (7)
  • Timeliness
    3.2 (6)
  • Loan Term5 years
Previous
Next
screwge84
screwge84Greater Melbourne (Metropolitan), VIC
  • 4 reviews
  • 3 likes

Great rates with patchy service

published
Transparency
Customer Service
Not happy client..
Not happy client..Melbourne
  • 6 reviews
  • 11 likes
  • Verified

Absolutely pathetic, useless..Dont waste your time and money.

published
Transparency
Customer Service

Other Car Loans

 
 

0.0
(1,234)
stji001
stji001Greater Melbourne (Metropolitan), VIC
  • 11 reviews
  • 4 likes
  • Verified

Excellence in service.

published

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 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.

Transparency
Customer Service
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Elena B.
Elena B.
  • 12 reviews
  • 6 likes

Liars

published
Transparency
Customer Service
Martin A.
Martin A.Perth, WA
  • 4 reviews
  • 5 likes

Rude and arrogant

published
Transparency
Customer Service

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Next

Easy and simple

published

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

Transparency
Customer Service
Ridzwan
RidzwanGreater Melbourne (Outer), VIC
  • 9 reviews
  • 7 likes

I'm with RACV

published

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!

Transparency
Customer Service

Inconsistent

published

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

Customer Service
Incentivised Review No

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dianaclarke15
dianaclarke15Greater Melbourne (Metropolitan), VIC
  • 2 reviews
  • 1 like

Never borrow from racv

published

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.

Customer Service
Application Process
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aqib
aqibMelbourne
  • 2 reviews
  • 3 likes

RACV - Entire process is misleading process- Total Waste of time

published

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.

aqib
aqib

One More thing- RACV has a useless and fruitless process - they actually damage your credit score- mine was 630 before the application 580 after the application. This will make it harder to borrow on lower interest rates

Lie about your credit score

published

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 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

published

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

manisha
manishaMelbourne
  • 3 reviews
  • 3 likes

Different rate at time of enquiry and pre-approval

published

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] 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.

published

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.

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0.0
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Abbey W
Abbey WAU
  • 2 reviews
  • 1 like

Great customer Service

published

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!

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Read more reviews - page 2

Questions & Answers

Lizzy
Lizzyasked

Can you pay a payout amount at a RACQ Branch?

1 answer
marius laynes
marius laynes

Hey Lizzy.
RACQ is just the underwriters, so earning the proceeds but wash their hands otherwise.

RACV does charge early termination fees and charges for breaking the contract (early payment of the contract) etc. So regardless of whether you are paying the full term with interest or paying it out early they want their pound of flesh.

Hope this helps someone to avoid this micro lender in disguise.

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