Thumbnail icon for IMB Bank

IMB Bank New Car Loan (up to 2 years old)

Interest rate from
5.45% p.a.
Comparison rate from*
5.80% p.a.based on $30,000
over 5 years
Upfront fee
$250

Mozo editorial review IMB Bank New Car Loan (up to 2 years old)

Last updated: 9 April 2020.

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What's hot
  • 2019 Mozo Experts Choice Award winner
  • Fixed interest rates from 5.45% (5.80% comparison rate*)
  • No service or exit fees
What's not
  • $250 upfront fee
Mozo snapshot

The IMB Bank New Car Loan can give borrowers the security of a fixed rate and keep costs low at the same time, with no ongoing fees. You’ll be able to borrow up to a massive $75,000 for a maximum of seven years. This loan also picked up a 2019 Mozo Experts Choice Award in the best Car Loan category, so you know it’s a top value pick. 

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Key features

In the market for a brand new car? Then you might want to give the IMB Bank New Car Loan a look. With a low 5.45% fixed interest rate (5.80% comparison rate*) and no service or exit fees you’ll be able to enjoy a budget-friendly loan as you drive into the sunset in your fresh set of wheels. 

There’s also some great flexibility on offer, as you’ll be able to make your repayments on a weekly, fortnightly or monthly basis, plus you’ll have the option to make additional repayments to your loan. You’ll have access of up to $75,000 to be repaid over a maximum of 7 years, but just keep in mind that you’ll need to be purchasing a car that’s under two years old. 

Also remember there is a $250 application fee with this loan and if you ever miss a repayment, you will be charged a $50 late payment fee. However, you won’t be charged any ongoing fees. 

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Who is it good for

The IMB Bank New Car Loan could be a good option for Aussies borrowers looking to pick up a new car that’s not more than two years old and are after a sweet low rate.  

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Any catches

The IMB Bank New Car Loan is only available for cars that are up to two years old, so if you were thinking of picking up a car older than this, you will have to consider another loan, like the IMB Bank Secured Personal Loan

Details

Rates and fees information correct as at 29 May 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Fixed

  • 5.45% p.a. fixed

  • 5.80% p.a.based on $30,000
    over 5 years

Fees
  • $250.00

  • $0.00

  • $50.00

  • $0.00

  • $0.00

Other financial bits
  • $2,000.00

  • $75,000.00

  • 1 Year

  • 7 Years

  • Vehicle

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • no

  • Available for new vehicles or up to 2 years old

  • none

*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. WARNING: 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.

Customer Reviews

How are IMB Bank personal loans rated by the Mozo community?

Overall customer rating
8.3/10
Price
8.5/10
Features
7.4/10
Customer service
8.8/10
Convenience
7.9/10
Trust
8.4/10

Latest reviews of IMB Bank New Car Loan (up to 2 years old)

  • Overall 9/10
    Good rates

    Cheapest rates and great features of loan

    Read full review

    Cheapest rates and great features of loan

    Price
    10/10
    Features
    9/10
    Customer service
    9/10
    Convenience
    9/10
    Trust
    9/10
    Less
    Maurizio, New South Wales reviewed almost 8 years ago
  • Overall 9/10
    Excellent customer service and sympathetic help

    In all ways we have found IMB to be caring helpful and truthful Being pensioners we found their advise to us sound and when applying for this loan they were very helpful and kkept us informed as to how the situation was, advising us when everything was ready and passing on the cheque that was needed. We have no hesitation in asking advise on any money problems we have.

    Read full review

    In all ways we have found IMB to be caring helpful and truthful Being pensioners we found their advise to us sound and when applying for this loan they were very helpful and kkept us informed as to how the situation was, advising us when everything was ready and passing on the cheque that was needed. We have no hesitation in asking advise on any money problems we have.

    Price
    9/10
    Features
    8/10
    Customer service
    10/10
    Convenience
    8/10
    Trust
    10/10
    Less
    Sally, New South Wales reviewed almost 8 years ago
  • Overall 9/10
    Exceptional customer service.

    When looking at changing my main bank (which was the Commonwealth Bank since 1986) as I was dissatisfied with their products and service I went shopping at a few credit unions. To my surprise most ignored you upon entering their doors except for IMB Gungahlin and particularly their customer service officer Lewarna Bennett. Lewarna took the time to discuss their products Savings accounts and Personal Loans providing me with exceptional personal service. This won them my business and a very positive feeling which I more than happy to advise others about if they are unstaisfied with their current bank/CU etc.

    Read full review

    When looking at changing my main bank (which was the Commonwealth Bank since 1986) as I was dissatisfied with their products and service I went shopping at a few credit unions. To my surprise most ignored you upon entering their doors except for IMB Gungahlin and particularly their customer service officer Lewarna Bennett. Lewarna took the time to discuss their products Savings accounts and Personal Loans providing me with exceptional personal service. This won them my business and a very positive feeling which I more than happy to advise others about if they are unstaisfied with their current bank/CU etc.

    Price
    8/10
    Features
    -1/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    8/10
    Less
    Michelle, Australian Capital Territory reviewed almost 8 years ago
IMB Bank

About IMB Bank

IMB is one of Australia's largest building society servicing the lower east coast of Australia. IMB's better value banking offers its customers lower cost banking and secure services. IMBs' face-to-face facilities allow them to offer a more personalised service in taking care of the IMB community. IMB offers a range of products including insurance, business banking, term deposits, saving & transaction accounts and home & personal loans.

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