IMB New Car Loan

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.

Product NameIMB New Car Loan
Interest Rate (p.a.)5.89% (fixed)
Comparison Rate (p.a.)6.24%
Interest Rate TypeFixed
Min Loan Amount$2,000
Max. Loan Amount$75,000
Loan SecuritySecured

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 $250
  • Late fees may be charged

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 $75,000, 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(s) and 7 year(s).

Features of the IMB New Car Loan

  • Loan amount. You can borrow between $2,000 and $75,000 to finance your new car purchase.
  • Loan term. Depending on what best meets your needs, you can select loan terms of between 1 year(s) and 7 year(s).
  • 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 5.89% p.a.
  • Comparison rate. Based on a $30,000 secured loan over a period of five year(s), the comparison rate stands at 6.24% 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.

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.

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Car Loan Offers

Important Information*
Latitude New and Used Car Loan

You'll receive a fixed rate between 6.99% p.a. and 14.99% p.a. based on your risk profile
Apply for a loan from $5,000 to finance a new or used car. Flexible repayments and options to finance a classic car.

Loans.com.au - New Car Loan

You'll receive a fixed rate of 5.44% p.a.
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment.

Stratton Finance New Car Loan

You'll receive a fixed or variable rate depending on the lender you are approved with
Apply for up to $100,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.

Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 5.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

Ask an Expert

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47 Responses

  1. Default Gravatar
    lindaSeptember 1, 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?

    • Default Gravatar
      JoeSeptember 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 !

    • finder Customer Care
      JoelSeptember 11, 2018Staff

      Hi Joe,

      Thanks for leaving a question on finder.

      If you’re not employed in the traditional sense and are in need of finance, you may still be eligible for a loan. This guide will take you through your options for borrowing while you’re unemployed, what you need to be aware of, and how you can apply. You can also see the ins and outs of eligibility criteria for lenders that offer these kinds of loans.

      Since you own a car, your application may have a greater chance of being approved. This is because the lender may use this as security for the loan.

      Cheers,
      Joel

    • finder Customer Care
      CharisseSeptember 2, 2018Staff

      Hi Linda,

      Thank you for reaching out to finder.

      Please note that we are not affiliated with IMB and we can only 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, you can click here to review other lenders.

      Hope this helps.

      Cheers,
      Charisse

  2. Default Gravatar
    October 10, 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?

    • finder Customer Care
      RenchOctober 10, 2017Staff

      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

  3. Default Gravatar
    LaksithJuly 23, 2017

    Hi there, I want to find out about me being able to get a car loan. Im on international student visa. I have a monthly income. Since, Im on an international student visa. This type of visa would not qualify for applying for a loan, would it ?

    Regards,
    Laksith.

    • finder Customer Care
      RenchJuly 24, 2017Staff

      Hi Laksith,

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

      You can check this page for helpful information about loans for non-residents in Australia. You may also compare your options here.

      If you are inquiring about car loan from IMB Bank, please contact them directly or click on the green ‘Got to Site’ button.

      Cheers,
      Rench

  4. Default Gravatar
    joelJune 22, 2017

    Hi, if I’m in the market for a new car but unsure of the exact price yet (still bargaining with dealer). Can I get an approval for $30K and if it ends up being $28K, is that fine?

    • Default Gravatar
      JonathanJune 22, 2017

      Hi Joel!

      Yes, it should not be a problem at all! In fact, it is better that you get approved for a higher amount then go down, rather than the other way around. :)

      Hope this helps.

      Cheers,
      Jonathan

  5. Default Gravatar
    JarrodMay 27, 2017

    Hi All,
    Just wanted to know if there was a rate lock associated with a loan $50,000 for a new car loan?
    What would be the comparison rate also be?
    Thanks

    • finder Customer Care
      HaroldMay 29, 2017Staff

      Hi Jarrod,

      Thank you for your inquiry.

      The comparison rate is based on a secured loan amount of $30,000 and a term of 5 years. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

      I hope this information has helped.

      Cheers,
      Harold

  6. Default Gravatar
    TomOctober 10, 2016

    Hi, I want to buy a new motorbike and the IMB loan looks quite competitive. With this loan, can I also finance the purchase of my safety equipment? Thanks, Tom.

    • finder Customer Care
      LouOctober 11, 2016Staff

      Hi Tom,

      Thanks for your question.

      Please note that we are finder.com.au, a financial comparison and information website, not IMB.

      I’ve checked the terms and conditions of this loan and I can’t find any reference as to whether you can use this loan to finance the safety equipment or not.

      You can directly get in touch with IMB on 1300 78 08 97 to inquire.

      Cheers,
      Anndy

  7. Default Gravatar
    WayneSeptember 19, 2016

    I am on a disability pensions from the Department of Veteran Affairs and Comsuper which is paid fortnightly.

    • finder Customer Care
      ElizabethSeptember 19, 2016Staff

      Hi Wayne,

      To be considered for a loan with IMB you need to be receiving an income as well as your DSP payments. You can compare other lenders on this page.

      I hope this helps,

      Elizabeth

  8. Default Gravatar
    SamMay 14, 2016

    Hi,

    I have arrived recently to Australia and I’m on temporary residence visa. I’m employed on contract basis. Will I qualify for a car loan?

    Thanks.

    • finder Customer Care
      ElizabethMay 16, 2016Staff

      Hi Sam,

      Unfortunately IMB does not consider temporary residents for loans. You can consider your other options on this page.

      Hope this helps,

      Elizabeth

  9. Default Gravatar
    MichaelFebruary 26, 2016

    Regarding loan security is the new car being purchased classed as security

    • finder Customer Care
      ElizabethMarch 1, 2016Staff

      Hi Michael,

      The new car you purchase will be used as security for the loan. It is for new motor vehicle purchases, as well as demonstrator vehicles if the odometer reading is less than 5,000km.

      I hope this has helped.

      Thanks,

      Elizabeth

  10. Default Gravatar
    DeborahFebruary 21, 2016

    I want to buy a classic car 1974 model. can I secure the loan with this or another vehicle if this one is not suitable as security

    • finder Customer Care
      ElizabethFebruary 22, 2016Staff

      Hi Deborah,

      IMB new car loan can only be secured against a new or demonstration vehicle with an odometer reading less than 5,000km. You may want to consider the IMB secured personal loan on this page instead.

      Thanks,

      Elizabeth

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