Your selected car loans
Very competitive 3-year fixed rates from 6.24% p.a. (6.59% p.a. comparison rate*)
Won a 2024 Mozo Experts Choice Award as one of Australia’s cheapest car loans
Available for new or used cars up to 4 years old
Borrow between $2,000 to $125,000.
$250 application fee
Unavailable for cars over 4 years old (check out IMB Bank’s Secured Personal Loan instead)
Fee of $50/month if your loan is in default because of overdue repayments.
If you’re ready to hop into a new set of wheels and want to get there sooner, then IMB Bank’s New Car Loan is well worth adding to your shortlist of financing options.
With a very competitive 3-year fixed rate, starting at 6.24% p.a. (6.59% p.a. comparison rate*), no monthly service fee and no penalty for early repayments, this 2024 Mozo Experts Choice Award winning car loan was crowned one of the cheapest in Australia.
You can borrow as little as $2,000 or as much as $125,000, depending on your needs. It’s available for new or used cars under 4 years old. So, if you’re looking at an older vehicle, then you might want to check out IMB Bank’s Secured Personal Loan (for cars up to 6 years old), Unsecured Personal Loan (for vehicles over 6 years old), or compare more car loans.
In terms of fees, you’re looking at $250 for the application fee, a default fee of $50 per month if you’re behind on your loan repayments, and a Personal Property Securities Register fee of $24.78 to register your new car as security for the loan.
Your selected car loans
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Write a reviewYou can apply for an IMB Bank car loan through the provider’s website by filling out an application form online.
You’ll need to have a bunch of information handy, such as the make and model of the car you’re buying, how much it costs, details about your income, proof of identity and more.
The application process could take you about 10 minutes, according to IMB Bank.
Yes, you can make weekly or fortnightly repayments, as opposed to monthly, with IMB Bank car and personal loans.
IMB Bank will let you pay off your car loan early and make extra repayments without having to pay an early repayment penalty.
* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. 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.
^See information about the Mozo Experts Choice Personal Loan Awards
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