Personal Loans

Frequently asked questions

General

What can I get a loan for?
You can get a loan for just about any worthwhile purpose, including cars and vehicles, debt consolidation, refinancing, home improvements, weddings, travel and study.

You can’t get a loan for a house or property.
What’s the difference between a secured and an unsecured loan?
A secured personal loan is a loan that has an asset offered by the borrower, as security over the loan. If you're looking at buying something like a car, you can consider a secured personal loan.

An unsecured personal loan has no asset held as security.
Do I need to have a deposit for a loan?
Generally, no. However, for jet skis, motorcycles or imported vehicles, a deposit may be required.
How long is my quote valid for?
30 days.
What is the pre-approval time?
Loan pre-approval is within 7 working hours, subject to applicants satisfying all conditions. Our working hours are between 9am and 5pm, Monday to Friday, excluding public holidays.
When will I receive my loan funds?
If the conditions of your loan have been met, the loan contract will be available for signing the following business day and the funds will be processed either via cheque, BPAY or EFT 24–48 hours from settlement.

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Eligibility

I only have an overseas driver’s licence – can I still apply for a loan?
If you’re applying for a secured loan (for a car), you must have a current, valid and unconditional Australian driver’s licence. For unsecured loans, a driver’s licence isn’t required, but you have to be a home buyer/owner.
I’m living in SA on an overseas visa – am I eligible for a loan?
To apply for a loan, you must be an Australian citizen or permanent resident residing in SA or Broken Hill. Unfortunately, we can’t accept temporary visa holders.
Can I get a loan for business or commercial vehicles?
Unfortunately no, we only offer personal loans. Vehicles used as taxis or for ridesharing like Uber also are classified as business or commercial vehicles.
I haven’t chosen my vehicle yet. Can I apply for pre-approval for a loan?
Yes, you can. In most cases, you can conditionally approve a car loan before you decide on your car. Pre-approvals are valid for 30 days.

Financial hardship

What do I do if I can’t make a repayment?
Please contact RAA Finance on 8202 8331 as soon as possible if you think you might have trouble meeting your loan repayments or are experiencing financial hardship. We'll work with you to understand your current situation.

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Personal loans help & FAQs

Frequently asked questions

General

What can I get a loan for?

What’s the difference between a secured and an unsecured loan?

Do I need to have a deposit for a loan?

How long is my quote valid for?

What is the pre-approval time?

When will I receive my loan funds?

Eligibility

I only have an overseas driver’s licence – can I still apply for a loan?

I’m living in SA on an overseas visa – am I eligible for a loan?

Can I get a loan for business or commercial vehicles?

I haven’t chosen my vehicle yet. Can I apply for pre-approval for a loan?

Financial hardship

What do I do if I can’t make a repayment?

Personal loans enquiry

Get in touch. We're here to help.

Call us

Find a shop

Personal loans help & FAQs

Frequently asked questions

General

What can I get a loan for?

What’s the difference between a secured and an unsecured loan?

Do I need to have a deposit for a loan?

How long is my quote valid for?

What is the pre-approval time?

When will I receive my loan funds?

Eligibility

I only have an overseas driver’s licence – can I still apply for a loan?

I’m living in SA on an overseas visa – am I eligible for a loan?

Can I get a loan for business or commercial vehicles?

I haven’t chosen my vehicle yet. Can I apply for pre-approval for a loan?

Financial hardship

What do I do if I can’t make a repayment?

Related links

Personal loans enquiry

Get in touch. We're here to help.

Call us

Find a shop