RAC Personal Finance

No reviews for RAC Personal Finance

Representative 9.9% APR

Will lend between: £1,000 - £35,000

Over: 12 - 84 Months

Representative example: If you borrow £7,500 over 60 months at a Representative rate of 9.9% APR and an annual interest rate of 9.9% (fixed), you would pay 60 monthly installments of £157.43. The total charge for credit will be £1,945.80 and the total amount payable will be £9,445.80.

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Representative 49.7% APR.

No reviews for RAC Personal Loans

Our review of RAC Personal Finance

Breakdown cover powerhouse RAC offer personal loans between £1,000 and £35,000. Their loans are fulfilled by Shawbrook Bank. Customers must be employed with an income of £15,000 or more (or receiving a pension) and poor credit won’t be accepted.

The process seems to be fairly quick, the online application takes only around 10 minutes as long as you’ve got all the necessary information such as your address details for the last three years, employment details, annual income and your bank account details. If successful, then the RAC loan will be available in your account the next working day.

It’s quite difficult to find online reviews for RAC loans and at the time of writing there are none on Choose Wisely, but their OPTIOSCORE is relatively high at 79.2. This is mainly due to their features and consumer sentiment which are both at very good levels. 

Overall verdict: RAC benefit from having their finance provided by Shawbrook. Both are good household names that should give customers confidence in them as a lender. If you are going to apply for a loan with RAC then make sure that you have good credit history otherwise you are going to be declined and that could harm your credit history in the long run. If you do meet the criteria then it’s worth applying for the competitive rate of APR.

Andrew Freelander
Written by
Andrew Freelander
Brand & Content Manager at Choose Wisely

Andrew joined Choose Wisely 5 years ago, originally working in a design capacity to make sure the website was simple to use. Most notably he worked with the Consumer Finance Association to design the comparison table of choice for High-Cost Short Term Finance products.


  • Online application with instant decision
  • Well-known household name
  • Funds could be available the next day
  • Competitive representative APR
  • No hidden fees or charges

Minimum criteria

  • You must be aged 18 or over
  • You will need to have a bank or building society account
  • Must be a permanent UK resident for at least 3 years
  • You must be employed, self-employed or retired with a pension
  • You must have good credit history


  • Maximum APR 29.9%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £22

About RAC Personal Finance

RAC Loans offer personal loans between £1,000 and £35,000 over a loan term ranging from one to five years and up to seven years if you're borrowing over £15,000.  Their representative APR is 12.9%, although personal circumstance and credit history can change this during the application. They don’t charge any arrangement fees and there are no hidden charges. RAC’s application is completed online and applicants are able to get a decision almost instantly with funds available the next day. If successful, applicants can use the loan for anything, not just for purchasing a car.

To apply for a loan with RAC you will need to have a good credit history and meet a number of criteria including being employed, self-employed or retired with a pension, having a UK bank or building society account and have been a UK resident for over one year. When applying, ensure that you have all the necessary documentation and the online application should take no more than 10 minutes.

Company information

Registration number: 05171817



RAC House

FCA registration

Reference No: 313989

Trading names: RAC Financial Services Limited, RAC Motoring Services, RAC Insurance Limited

Place of business: RAC House, Brockhurst Crescent, Walsall, WS5 4AW

Data protection registration

Registration No: Z9637218

Address: RAC House, Brockhurst Crescent, Walsall, WS5 4AW

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