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IMB New Car Loan

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Application Fee
$274.78 ($250 Application fee + $24.78 PPSR fee)
Interest Rate (p.a.)
6.24% (fixed)
Comparison Rate (p.a.)
6.59%
Max Loan Amount
$125,000

Summary

Drive away with more than a new car – no account-keeping fees, flexible terms and a competitive rate.

If you’re looking to buy a vehicle, the IMB New Car Loan is a competitive offering that can help you secure your purchase. You can take advantage of a range of flexible features for minimal fees and fixed repayments. The loan also comes with a competitive interest rate, helping you to keep your repayments low.

Pros

  • Early repayments without penalty
  • $0 service fee to pay every month
  • Low interest rate

Cons

  • $2,000 minimum loan amount for this account
  • Application fee of $274.78
  • Late fees may be charged

In this guide

  • Review
  • Details
    • Product details
  • Your reviews
  • Ask a question

Details

Product details

Product Name IMB New Car Loan
Interest Rate (p.a.) 6.24%
Comp. Rate (p.a.) 6.59%
Interest Rate Type Fixed
Min Loan Amount $2,000
Max Loan Amount $125,000

Main points to consider with the IMB New Car Loan

This loan can help you finance new motor vehicle purchases, as well as cars up to two years old. While this loan is only available for these vehicles, you're able to borrow between $2,000 and $125,000, leaving room for a wide range of vehicles to be financed with this IMB car loan. This is a fixed rate loan with terms available of between 1 year and 7 years.

Features of the IMB New Car Loan

  • Loan amount. You can borrow between $2,000 and $125,000 to finance your new car purchase.
  • Loan term. Depending on what best meets your needs, you can select loan terms of between 1 year and 7 years.
  • Choice of vehicle. You're able to finance a new car or one that's up to two years old with this IMB car loan, giving you more options when it comes to making your car purchase.
  • Interest rate. This loan offers a competitive fixed rate of 6.24% p.a.
  • Comparison rate. Based on a $30,000 secured loan over a period of five year(s), the comparison rate stands at 6.59% p.a.
  • Repayment flexibility. You'll have the ability to make extra repayments without penalty, helping you to pay back your IMB car loan and save on interest.
  • Optional Loan Repayment Insurance. You have the option of taking out Loan Repayment Insurance, where you'll have peace of mind knowing your repayments will be covered if you aren't able to.
  • Account-keeping fees. This loan comes with no account-keeping fees, helping to keep your ongoing costs down.

Fees to consider

  • An upfront fee of $274.78 ($250 Application fee + $24.78 PPSR fee)
  • No monthly fees
  • Late fees may be charged

How you can apply for the IMB New Car Loan

If you're looking to apply for the IMB New Car Loan, you can apply directly with IMB by clicking on the "Go to Site" button. First, make sure you meet the eligibility criteria outlined below:

  • You're over the age of 18
  • You have a good credit history
  • You receive a monthly income

You'll need to have the following documents handy to complete the application:

  • Your email address
  • Details of your income, assets, expenses and liabilities
  • Your current and previous employer's details

The application will take approximately fifteen minutes to complete, but if you don't have time to complete it, you can save it and complete it at a later time. Once you submit this application you'll be advised of the outcome and asked to submit supporting documentation, and you'll then be kept updated on the progress of your application via email. If you're an existing IMB member you can apply directly via Internet banking.

Compare car loan providers

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1 - 13 of 108
Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
OurMoneyMarket New Car Loan
OurMoneyMarket logo
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
$250
min.
Monthly Fee
$0
Monthly Repayment
$622.82
Go to siteMore Info
loans.com.au - New - Variable Rate Special
loans.com.au logo
Variable3 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
6.24%
to 7.74%
Comp. Rate (p.a.)
7.36%
to 8.85%
Application Fee
$400
Monthly Fee
$8
Monthly Repayment
$630.83
Go to siteMore Info
Stratton Finance New Car Loan
Stratton Finance logo
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.52%
to 18%
Comp. Rate (p.a.)
6.95%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$625.27
Go to siteMore Info
You'll receive a fixed rate from 6.52% p.a. depending on the lender you are approved with.
Apply for up to $300,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
NRMA New Car Loan
NRMA logo
Fixed1 - 7 Years $5,000 - $130,000
Interest Rate (p.a.)
7.29%
to 16.99%
Comp. Rate (p.a.)
8%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$635.67
Go to siteMore Info
Note: Take out a loan for an eligible electric vehicle and receive a 1.5% discount on your personalised interest rate (interest rates start from 5.79% p.a. and comparison rates from 6.49% p.a.)
Credit Concierge New Car Loan
Credit Concierge logo
Fixed1 - 7 Years $10,000 - $100,000
Interest Rate (p.a.)
6.29%
to 16.45%
Comp. Rate (p.a.)
7.41%
to 17.91%
Application Fee
$553
Monthly Fee
$10
Monthly Repayment
$637.97
Go to siteMore Info
RACV New Car Loans
RACV logo
Fixed1 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
7.29%
to 16.99%
Comp. Rate (p.a.)
8%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$635.67
Go to siteMore Info
You'll receive a fixed rate from 7.29% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
Simplify New Car Loan
Simplify Finance logo
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.19%
to 18%
Comp. Rate (p.a.)
6.6%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$622.21
Go to siteMore Info
Credit Concierge Used Car Loan
Credit Concierge logo
Fixed1 - 7 Years $10,000 - $1,000,000
Interest Rate (p.a.)
6.8%
to 17.45%
Comp. Rate (p.a.)
7.56%
to 18.91%
Application Fee
$553
Monthly Fee
$10
Monthly Repayment
$642.74
Go to siteMore Info
OurMoneyMarket Used Car Loan - No Vehicle Age Limit
OurMoneyMarket logo
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
$250
min.
Monthly Fee
$0
Monthly Repayment
$622.82
Go to siteMore Info
Stratton Finance Used Car Loan
Stratton Finance logo
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.52%
to 18%
Comp. Rate (p.a.)
6.95%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$625.27
Go to siteMore Info
You'll receive a fixed rate loan from 6.52% p.a. with a comparison rate of 6.95% p.a.
A used car loan of up to $300,000 with quick approval times and balloon payment options.
Simplify Used Car Loan
Simplify Finance logo
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.19%
to 18%
Comp. Rate (p.a.)
6.6%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$622.21
Go to siteMore Info
NRMA Used Car Loan
NRMA logo
Fixed1 - 7 Years $5,000 - $130,000
Interest Rate (p.a.)
8.49%
to 16.99%
Comp. Rate (p.a.)
9.21%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$647.01
Go to siteMore Info
You'll receive a fixed rate from 8.49% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
RACV Used Car Loans
RACV logo
Fixed1 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
8.49%
to 16.99%
Comp. Rate (p.a.)
9.21%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$647.01
Go to siteMore Info
You'll receive a fixed rate from 8.49% p.a.
Benefit from no ongoing fees, 5-hour approval and a 21-day satisfaction guarantee. Interest rate discounts for members.
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Rebecca Finder

Senior writer

Hi there, looking for more information? Ask us a question.

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Avatar

Cindy

November 03, 2019

When the rate says ‘Fixed’, does that guarantee it will remain the same for the duration of the loan?


Avatar

Ash

November 03, 2019

Hi Cindy,


Thanks for contacting Finder.


The term ‘Fixed’ doesn’t 100% guarantee that it will remain as it is for the whole duration of your loan term. But the 5.49% interest rate applies to loan amount from $2,000 up to $75,000. Vehicles that will be purchased must be new or up to 2 years old to be qualified for the car loan.


I hope this helps.


Cheers,

Ash


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Rob

April 05, 2019

Hi Guys,

I’m looking f or a car loan for a second hand car, can you please tell me which lenders deal with this?


Thank-you


Avatar

Nikki Angco

April 06, 2019

Hi Rob,


Thanks for getting in touch!


You may head to our used car loans page. It shows a list of providers, how it works, and how to compare used car loan providers. Once you have chosen a particular lender, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with your loan application or get in touch with their representatives for further assistance.


As a friendly reminder, review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.


Hope this helps!


Best,

Nikki


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Avatar

Manoj

March 18, 2019

If checking for eligibility in IMB, will that affect my credit rating.?


Avatar

Charisse Finder

March 18, 2019

Hi Manoj,


Thanks for reaching out to Finder.


Yes, it will affect your credit score as a credit check is required for all new loan applications with IMB Bank. Loan applications are considered “hard enquiries” and too many of them in a short period of time will decrease your credit score.


You can read more about the causes of credit score change.


I hope this helps.


Cheers,

Charisse


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Avatar

Linda

September 01, 2018

I’m wanting to buy a new car. I have a full-time job but have no credit card or loans as never needed one. I am married but my husband owns the house we live in. Would I be able to get a car loan?


Avatar

Joe

September 11, 2018

Hi I’m just bough a new Honda CR-V AWD for $45.000K completely paid off full amount with my name on paper last 2 month , at the momemnt I’m just quite a job because I’m trying to find something new with a good income , and I’m a bit struggling with money right now because not work there anymore , I would love to borrow a few Thousand dollar like 3K-5k just for living before I find a good new job ( even though I can make a call then borrow it easyly from mom and dad but I really don’t want to upset them ) my history credit is not looking like perfect though :) is there a chance for me to borrow $3k-$5k from you just for a short team before I finding a job .thanks so much for your helping !


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Avatar

Charisse Ty Finder

September 01, 2018

Hi Linda,


Thank you for reaching out to Finder.


While we don’t represent IMB, we can help by providing general information.


As per IMB’s eligibility criteria, they can consider you if you have a good credit history and receiving a monthly income. You can click on the “Go to site” button to proceed with your online application. IMB will give you a feedback on the result of your application and will then ask you to submit your supporting documents.


If you are still looking to compare new car loan options, use our comparison table to help you find the lender that suits you. You can press the “Go to site” button of your preferred lender to start your application.


Hope this helps.


Cheers,

Charisse


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Avatar

Mohammed

October 09, 2017

Hi, I’m holding a temporary residency visa and valid for 1 year. I’m a full time working employee right now. Am I able to get a car loan with that visa?


Avatar

Rench Finder

October 10, 2017

Hi Mohammed,


Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.


If you are referring to IMB New Car Loan, please contact them directly by clicking on the ‘Go to Site’ button on the page.


You may also have a look on these pages for helpful info and compare your options:

https://www.finder.com.au/moving-to-australia/loans-for-non-residents

https://www.finder.com.au/car-loans


Cheers,

Rench


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