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NRMA car loans review

Commonly known for its slogan ‘help is who we are’, NRMA provides flexible car loans for new and used vehicles.

First published on 14 Feb 2022

You may know that NRMA offers roadside assistance and insurance services, but did you know the motoring body also provides new and used car loans? Well, now you do.

NRMA is Australia’s largest member organisation with approximately 2.6 million members, and has serviced Australian car and homeowners for more than 100 years. With better roads and transport a key focus since the beginning, the member-owned mutual is responsible for many things we may take for granted, from fuel price transparency to school zone flashing lights.

What car loans does NRMA offer?

NRMA offers ‘flexible, low-rate’ car loans that are ‘easy’ to apply for. NRMA’s car loans come with no monthly fees, fixed interest rates, and loan terms of up to seven years.

Finance options are not just limited to cars. New and used motorbikes, caravans, and motor homes can be purchased with an NRMA loan. NRMA Members could also receive lower rates.

The table below features some of NRMA’s fixed-rate car loan options.

Why choose NRMA for your car finance?

NRMA car loans come with a few key features, including:

Flexible repayments

NRMA’s car loans come with flexible repayment options - fortnightly or monthly - and no monthly fees. You can also make extra repayments at any time with no extra fees involved.

Quick settlement

Loans settle quickly once all the paperwork is out of the way, with funds available the next day, so you can be in your new set of wheels quickly.

Member benefits

NRMA Members could save up to 1% off car loan rates.

Having a car loan with NRMA may simplify your car expenses. Offering other car-related products and services including roadside assistance, car insurance, car servicing, battery health checks and more; having your car loan through NRMA could mean all your car-related expenses are in one place.

How to apply for an NRMA car loan

Applying for a new or used car loan with NRMA should take about 10 minutes, and to make it even quicker, NRMA recommends having your current driver's licence handy.

To process your application, NRMA will need employment information including:

Employer contact details
Length of employment

NRMA will also need financial details including:

Income
Assets
Savings
Other loan details (including credit and store card details)
Other expenses (rent, child support payment details, and so on)

Image by Kelly Sikkema on Unsplash

Rachel Horan

Rachel is a Finance Journalist, and joined Savings in 2021. Coming from a background in the FinTech space, her interests include the innovation of lending technology, property, investing, and more. With a passion for educating and informing people about their finances, she hopes to increase the financial literacy of everyday Australians.

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The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the InfoChoice Group. In the interests of full disclosure, the InfoChoice Group are associated with the Firstmac Group. Read about how InfoChoice Group manages potential conflicts of interest, along how we get paid.

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Product Coverage and Sort Order

We strive to cover a broad range of products, providers, and services; however, we do not cover the entire market. Products in our comparison tables are sorted based on various factors, including product features, interest rates, fees, popularity, and commercial arrangements.

Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes.

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Comparison Rate Warning and Base Criteria

For home loans, the base criteria include a $500,000 loan amount over 30 years. For car loans, the base criteria include a $30,000 loan over 5 years. For personal loans, the base criteria include a $20,000 loan over 5 years. These rates are only examples and may not include all fees and charges.

*The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Monthly Repayment Figures

Monthly repayment figures are estimates that exclude fees. These estimates are based on the advertised rates for the specified term and loan amount. Actual repayments will depend on your circumstances and interest rate changes.

Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you.

Related Brands

Savings.com.au is proudly part of the InfoChoice Group, which includes InfoChoice.com.au, YourMortgage.com.au, YourInvestmentPropertyMag.com.au, and PerformanceDrive.com.au. The InfoChoice Group is associated with the Firstmac Group.

We may include products and services from loans.com.au, CarLoans.com.au, OnlineAuto.com.au, and YourMortgageBroker Pty Ltd, all associated with the Firstmac Group. Importantly, these brands are treated like any other commercial partner.

Learn more about how we manage conflicts of interest.

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The information provided by Savings.com.au is general in nature and does not take into account your personal objectives, financial situation, or needs. We recommend seeking independent financial advice before making any financial decisions. Before acquiring any financial product, obtain and read the relevant Product Disclosure Statement (PDS), Target Market Determination (TMD), and any other offer documents.

Rates and product information should be confirmed with the relevant credit provider. For more information, read Savings.com.au’s Financial Services and Credit Guide (FSCG).

NRMA car loans review

What car loans does NRMA offer?