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Cash vs bank loan vs dealer finance

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When it comes to buying a new set of wheels, it might be easy to get carried away with the excitement – after all, next to a home, it could be one of the biggest purchases many people will make.

Consumers have many options from personal loans, cash payment, leasing, drawing on your home loan or utilising dealer finance directly through the car yard, each with their own costs and benefits. Here, we will be focusing on the three common payment methods:

  1. Cash Payment
  2. Personal Car Loan
  3. Dealer Finance

It’s not likely that you would purchase a home without sorting out your finance options first and it should be exactly the same for a car. Before you even settle on a make and model, think about how you are going to pay for your new vehicle, consider your financial goals, objectives and current situation and be clear on the full details of any potential car loan before making an on-the-spot decision.

If you have an enquiry regarding an IMB Bank new car loan, send us an online enquiry.

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Lending criteria, terms and conditions, fees and charges apply to IMB Personal Loans.

Why choose IMB Bank?

Established in 1880, IMB has been helping people achieve their financial goals for 140 years. IMB offers a full range of banking solutions including home and personal lending, savings and transaction accounts, term deposits, business banking and can arrange financial planning, insurance and travel products.

IMB has a growing branch network throughout the Illawarra, Sydney, NSW South Coast, the ACT and Melbourne. We have a lending specialist in every branch and a team of mobile lending specialists who will come to you. IMB members enjoy access to free automated phone and internet banking and a team of professionals who are just a phone call away at our locally based call centre.

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Bank where and when you like...