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New Car Loan

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I want to borrow

Loan Term

years

Repayment Frequency

New Car Loan Pros and Cons

Pros:
  • Features a low rate
  • No ongoing fees
  • No early exit penalty
  • Can apply online
  • Can apply in branch
Cons:
  • Application fee charged
  • Limited to new cars
  • Requires security to be held
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IMB Bank New Car Loan Fees and Features

New Car
New Car
Used Car
Used Car
Motorcycle
Motorcycle
Boat
Boat
Upfront Fee
Upfront Fee
$250
Early Exit Penalty Fee
Early Exit Penalty Fee
$0
Borrowing range
Borrowing range
$2k - $75k
Total Repayments
Total Repayments
$34,500
Missed Payment Penalty
Missed Payment Penalty
$0
Redraw Activation Fee
Redraw Activation Fee
N/A
Repayment Type
Repayment Type
Fixed
Loan Type
Loan Type
Secured
Secured by vehicle
Secured by vehicle
Available to 457 Visa Holders
Available to 457 Visa Holders
Redraw Facility
Redraw Facility
Extra Repayments
Extra Repayments
New Car
New Car
Used Car
Used Car
Motorcycle
Motorcycle
Boat
Boat
Upfront Fee
Upfront Fee
$250
Early Exit Penalty Fee
Early Exit Penalty Fee
$0
Borrowing range
Borrowing range
$2k - $75k
Total Repayments
Total Repayments
$34,500
Missed Payment Penalty
Missed Payment Penalty
$0
Redraw Activation Fee
Redraw Activation Fee
N/A
Repayment Type
Repayment Type
Fixed
Loan Type
Loan Type
Secured
Secured by vehicle
Secured by vehicle
Available to 457 Visa Holders
Available to 457 Visa Holders
Redraw Facility
Redraw Facility
Extra Repayments
Extra Repayments
Other Restrictions
car age up to 2 years old

IMB offers car loans for vehicles that are new or up to two years’ old. Loan amounts range from $2,000 to $75,000, while loan terms range from one to seven years. IMB does not charge borrowers a penalty for early repayment of their car loan. IMB also offers everyday banking, home loans, personal loans, credit cards, financial planning and insurance. IMB won the ‘Best Secured Personal Loan Lender’ category at the Australian Lending Awards in both 2016 and 2017. IMB is a customer-owned institution that was founded in 1880.

FAQs

There are four different ways you can get a car loan. You can go straight to a lender. You can get a finance broker to organise a car loan for you. You can get ‘dealer finance’ – which is when the car dealer organises a car loan for you. Or you can organise your own car loan through a comparison website, like RateCity.

Whichever method you choose, you will need to provide proof of identification, proof of income and proof of savings. So you may be asked for any combination of passport, driver’s licence, bank statements, payslips, tax returns and utility bills. You might also be asked to provide proof of insurance.

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