IMB New Car Loan Review, Rates and Fees | finder.com.au
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IMB New Car Loan

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Matt Corke
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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.

$275.12 ($250 Application fee + $25.12 PPS registration fee)

Application Fee

4.99% (fixed)

Interest Rate (p.a.)

5.34%

Comparison Rate (p.a.)

$75,000

Max Loan Amount

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Details

Product NameIMB New Car Loan
Interest Rate (p.a.)4.99% (fixed)
Comparison Rate (p.a.)5.34%
Interest Rate TypeFixed
Min Loan Amount$2,000
Max Loan Amount$75,000
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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 and 7 years.

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 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 4.99% p.a.
  • Comparison rate. Based on a $30,000 secured loan over a period of five year(s), the comparison rate stands at 5.34% 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

  • Application fee of $275.12
  • PPSR registration fee of $25.12
  • Late fees may be charged
  • No monthly fees

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.

Car Loan Offers

Important Information*
Logo for IMB New Car Loan
IMB New Car Loan

You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

More info
Logo for Beyond Bank Low Rate Car Loan "Special Offer"
Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 4.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

More info
Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 4.99% 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.

More info
Logo for NRMA New Car Loan
NRMA New Car Loan

You'll receive a fixed rate of 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.

More info

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53 Comments

    Default Gravatar
    Cindy
    November 3, 2019

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

    Reply
      Default Gravatar
      Ash
      November 3, 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

      Reply
    Default Gravatar
    Rob
    April 5, 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

    Reply
      Default Gravatar
      Nikki
      April 6, 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

      Reply
    Default Gravatar
    Manoj
    March 18, 2019

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

    Reply
      Avatarfinder Customer Care
      Charisse
      March 19, 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

      Reply
    Default Gravatar
    linda
    September 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?

    Reply
      Default Gravatar
      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 !

      Reply
      Default Gravatar
      Joel
      September 11, 2018

      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. Our page on unemployment loans 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

      Reply
      Avatarfinder Customer Care
      Charisse
      September 2, 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

      Reply
    Default Gravatar
    Mohammed
    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?

    Reply
      Avatarfinder Customer Care
      Rench
      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

      Reply
    Default Gravatar
    Laksith
    July 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.

    Reply
      Avatarfinder Customer Care
      Rench
      July 24, 2017

      Hi Laksith,

      Thanks for reaching out.

      Regarding your question, the answer is it depends. Each lender has its own eligibility requirements that you would need to meet. With this in mind, I highly recommend you check loans for non-residents. From there, you can explore your options and see if you will qualify. You can also check our student car loan guide to learn more about how to get a car loan given with your situation.

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

      Cheers,
      Rench

      Reply
    Default Gravatar
    joel
    June 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?

    Reply
      Default Gravatar
      Jonathan
      June 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

      Reply
    Default Gravatar
    Jarrod
    May 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

    Reply
      Avatarfinder Customer Care
      Harold
      May 29, 2017

      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

      Reply
    Default Gravatar
    Tom
    October 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.

    Reply
      Avatarfinder Customer Care
      Dee
      October 11, 2016

      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

      Reply
    Default Gravatar
    Wayne
    September 19, 2016

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

    Reply
      Avatarfinder Customer Care
      Elizabeth
      September 19, 2016

      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 pensioners’ loans found on our page.

      I hope this helps,

      Elizabeth

      Reply
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