NRMA Car Loans

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NRMA provides car loans as well as car insurance, home & contents insurance, landlord insurance, life insurance, travel insurance and personal loans.

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The table below displays a snapshot of NRMA’s car loan products on Canstar’s database, sorted by Star Rating (highest to lowest). Please note the products and Star Ratings displayed are based on a loan amount of $20,000 for a five-year loan in NSW.

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What car loan(s) does NRMA offer?

At the time of writing, NRMA offers 2 main types of car loans – used car loans and new car loans.

New car loan:

This loan offers the following features:

  • Smooth application process with 5 hour pre-approvals
  • Low fixed interest rate
  • Loan term up to 7 years
  • No monthly account keeping fees
  • Flexible repayment options of either fortnightly or monthly
  • Extra repayment available
  • Funds available the next day
  • Existing NRMA members could save 1% on loan rates

Used car loan:

This loan offers the following features:

  • Smooth application process with 5 hour pre-approvals
  • Low fixed interest rate
  • Loan term up to 7 years
  • No monthly account keeping fees
  • Flexible repayment options of either fortnightly or monthly
  • Extra repayment available
  • Funds available the next day

Is your car eligible for a secured loan with NRMA?

To be eligible for a secured car loan with NRMA, your application will be subject to its normal lending criteria. Generally, your chosen vehicle might need to be:

  • For personal use
  • Less than seven years old
  • A new or used vehicle

Check the PDS (product disclosure statement) for NRMA’s car loan criteria.

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Does NRMA also offer personal loans?

Yes, NRMA does offer unsecured personal loans as well as its car loan product. The table below displays a snapshot of NRMA’s personal loan product(s) on Canstar’s database.

Please note the products and Star Ratings displayed are based on a loan amount of $20,000 for a three-year loan in NSW.

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NRMA FAQs

Both of the NRMA car loans offer a loan term of up to 7 years.

NRMA does not charge any ongoing account fee on its car loans, however both its new and used car loan products have a once-off application fee of $380.

See this article for look at the average fees currently charged by car loan providers on the market (based on Canstar’s Personal Loans Star Ratings for November 2017), to see if NRMA’s fees are more or less what the average customer is paying.

Applying for a NRMA personal loan is straightforward; you can do it online after visiting Canstar’s comparison tables. When applying for a personal loan with NRMA (or most providers in Australia for that matter), you generally need to meet the following criteria:

  • The car or motorcycle must be for personal use
  • You must be 18 or over
  • You must be a permanent Australian resident or valid work visa holder
  • Currently employed with a stable income
  • Have a solid credit rating and not be bankrupt

In addition, you may also have to meet the minimum loan amounts specified by the provider (see above). If done online, the application process can take as little as 10 minutes, provided you have everything on hand. You may need to provide documents and ID such as:

  • A current driver’s license
  • Details of your current and previous (if applicable) employer
  • Details of your income, assets, expenses and liabilities
  • Previous tax returns if you are self-employed

You may also require your current account number for NRMA if you’re an existing member.

NRMA was established in 1925 by the National Roads and Motorists’ Association, in order to provide car insurance to members in NSW and the ACT. In 1995, they added Queensland to the mix as well.

NRMA is the trusted insurer for millions of Australian drivers, and they employ 400 people in Queensland alone. Apart from your car, you can also insure your other vehicles: motorbike or scooter, bicycle, caravan, or boat.

You can download the NRMA Insurance App on the Apple iTunes Store or Google Play for Android.

NRMA is proud to have been among the first to provide CTP Green Slip insurance. Up until June 2013, NRMA Insurance was the only licenced provider of CTP insurance in the ACT.

NRMA is now part of the Insurance Australia Group (IAG), the largest general insurers in Australia and New Zealand. NRMA have created partnerships to provide car insurance in other states: with SGIC in South Australia, and with SGIO in Western Australia.

NRMA also supports their community in a number of ways including:

  • Raising awareness of child car safety and offering free child restraint safety checks
  • Supporting 150 Australian community organisations every year through their community grants program
  • Being a corporate supporter of the NSW State Emergency Service (SES)
  • Sponsoring the Brisbane Broncos

NRMA is also an environmentally friendly company. They offer a 10% discount for fuel efficient cars, have reduced their carbon footprint by 30% since 2006, have reduced their carbon dioxide equivalent emissions by 5% per year since 2009, and are a signatory to the UN Environment Program’s Finance initiative.

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NRMA Fast Loan - Low Rate - New Car

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Award: 3-Star Rated Car Loan

NRMA Fast Loan - Low Rate - New Car

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View The 2017 Star Ratings Car Loan Report

Written by: Regina Collins | Last updated: May 15, 2018