How much will my car loan repayments be?
- Dealer invoice or registration papers
- Full Comprehensive Insurance Policy or certificate of currency
Car Loans for Students?
As a bank headquartered in the same city as one of the world’s best universities (Go UOW!) IMB is proud to approve car loans for students, provided you can meet the above criteria and are a permanent resident. You can Messenger our Team through Facebook or simply give us a call for more details.
IMB’s car loan calculators make understanding your repayments and the total amount payable over the life of the loan easy. They even show you how much money and time you can save if you increase your repayments beyond the minimum. IMB Bank car loan repayment calculators are simple and take less than 5 minutes to complete.
What Are The Hidden Costs of Buying a New Car?
A large part of the car shopping process involves hunting for the lowest possible sticker price, but there may be more costs to consider. Some of the hidden expenses can include:
Registration fees: Before you purchase a new car, it’s registered as someone else’s property – usually the dealer offering it up for sale. There are fees you have to pay before transferring the ownership to yourself and they vary state to state.
Stamp duties: State governments in Australia have the right to levy taxes on the purchase price of any vehicle you purchase. You p duty will depend on the purchase value of your car and what state you buy it from. For vehicle stamp duty in NSW go here; for a list of stamp duties in other states, go here.
Insurance premiums: In New South Wales, you’re required to purchase Compulsory Third Party Insurance (CTP) to protect yourself from costs arising from injury or death to other people in an accident. The NSW Government has a handy comparison site to check before purchasing your CTP insurance. Additionally, you should strongly consider purchasing other optional insurance products to cover you for damage to your vehicle or another third party’s vehicle. (mehr …)