IMB Used Car Loan

Moneybuddy says

IMB offers a secured personal loan which can be used to buy a new or used car up to 6 years old.The security for the loan needs to be a new or used car up to 6 years old.Some of the attractive features of this loan are no monthly fees, loan amounts from $2,000 to $60,000 and early repayments are allowed with no penalties. And the interest rates is very competitive too!

The Basics

Interest Fixed

Car type Used

Security Secured

Car loan type Conventional Car Loan

Start rate p.a. 7.39%

Comparison rate p.a. 7.67%

Max. loan $60,000

The cool stuff: features

Loan insurance available? Yes

Repayment schedule Weekly

Online application Yes

Redraw facility Yes

Early repayment allowed Yes

Additional repayments allowed Yes

The Facts & Figures

Min. loan $2,000

Min. term 1 year

Max. term 5 years

The ugly stuff: fees

Signup fee $199

Exit fee $0

Monthly fee $0

Comparison Rate Disclaimer This comparison rate is based on a secured loan amount of $30,000 and a term of 5 years.

Early Repayment Fee -

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Warning: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Key features

  • Attractive interest rates
  • Borrow from $2,000 up to $60,000
  • Fixed repayments for budgeting
  • No penalty for early repayments
  • No ongoing monthly account keeping fees
  • Secured personal loans must be secured with either a new or used vehicle up to 6 years of age
  • $199 application fee
  • Choose between weekly, fortnightly or monthly repayments
  • Loans from 1 to 5 years

Pros

  • Pay off your loan early, with no penalties
  • Repayments are fixed and won't increase
  • No monthly fees
 

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