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Mini meca 2024

IMB Bank New Car Loan (up to 4 years old)

Advertiser disclosure
Interest rate from
6.24% p.a.
Comparison rate from
6.59% p.a.based on $30,000
over 5 years
Upfront fee
$250.00

Mozo editorial review IMB Bank New Car Loan (up to 4 years old) - last updated: 23 May 2024

binocular icon
What's hot
  • Fixed interest rates from 6.24% p.a. (6.59% p.a. comparison rate*)
  • No service or exit fees
What's not
  • $250 upfront fee
Mozo snapshot

The IMB Bank 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 $125,000 for a maximum of seven years. 

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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 6.24% (6.59% comparison rate*) fixed rates 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 $125,000 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. 


snapshot
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 28 May 2024. 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

6.24% p.a. fixed

6.59% 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

$125,000.00

1 Year

7 Years

Vehicle

Features

-

Monthly

yes

no

Available for new vehicles or up to 4 years old

none

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.

Customer Reviews

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

Overall
7.6/10
Price
8.4/10
Features
7.4/10
Customer service
8.8/10
Convenience
8.0/10
Trust
8.4/10
Based on 19 IMB Bank personal loan reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

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