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Cash vs bank loan vs dealer finance


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.