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Consumers Credit Union
Consumers Credit Union auto loan review published 2023-01-01 at 00:00:00
Written by Rebecca Betterton Written by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers with the ways and pitfalls of borrowing money to purchase an automobile.







The edit was done by Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since late 2021. They are committed to helping readers gain confidence to take control of their finances with clear, well-researched information that breaks down otherwise complex topics into manageable bites.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make smarter financial decisions by providing you with interactive financial calculators and tools that provide objective and original content. This allows you to conduct research and compare information for free to help you make informed financial decisions. Bankrate has partnerships with issuers including, but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The deals that are displayed on this site come from companies that pay us. This compensation may impact how and when products are featured on this website, for example for instance, the sequence in which they appear within the listing categories and other categories, unless prohibited by law for our mortgage or home equity products, as well as other home loan products. But this compensation does have no impact on the information we provide, or the reviews appear on this website. We do not cover the universe of companies or financial offerings that could be available to you.




Reviewer's disclosure: All reviews are prepared by staff. The opinions expressed in them are only the opinions of the reviewer and have not been reviewed or accepted by any advertiser. The information such as rates and charges, presented in the review is correct as of the date of the review. Review the information at the top of this page, and the lender's site for the most current details.








A look 4.1 Score: 4.1 stars out of 5
Bankrate Score

Availability Rating: 4.5 stars out of 5
Cost of Affordability: 3.8 stars out of five
Customer Experience Rating: 4.2 stars out of 5
Transparency Rating 4 5 stars.


Compare auto loan rates


More about Consumers Credit Union Loan amount not specified
Min. credit score Not specified
APR that starts at 5.24%
Funds available in Not specified



Pros and pros and Consumers Credit Union auto loans Before approving an application, consider the benefits and drawbacks associated with the Consumers Credit Union auto loan.
PROS In-person availability
TrueCar purchasing service
Preapproval available

CONS Unknown loan amounts
Membership requirement





Consumers Credit Union (CCU) is a member-owned credit union that provides used, new as well as auto refinance loans. Although you have to be an active member, the acceptance process is only $5 and a deposit of $5 or more into any of their bank accounts. CCU has numerous brick-and-mortar locations across the country, along the online registration procedure where drivers can both search for and finance a car.
Do you qualify? CCU doesn't provide any particular requirements. However, the most favorable rates are generally given to those with a good credit score, since credit is used as the main factor in determining approval with CCU. We like what we see and dislike. Although certain loan specifics are not disclosed, CCU does offer many benefits and discounts for loan holders. We appreciate the availability in person. CCU has numerous branches throughout the United States. TrueCar purchasing service. The partnered car-buying service helps to save money. In addition, you will be able to find the perfect ride and secured financing all at one time. Preapproved financing. Drivers can use the online preapproval tool to review financing numbers without impacting the credit score of their clients. What we don't like Undisclosed loan amounts. CCU does not release loan amounts for new, used or refinance loans. Membership requirements. You must be a member of CCU to be eligible for auto loan approval. Contact information Consumers Credit Union CCU offers assistance to customers Monday through Friday between 8 a.m. to 6 p.m. CT and on Saturdays from 8 a.m. until 2 p.m. CT. Alongside assistance over the phone, questions are answered through secure messaging via the website.
Auto loan types available Consumers Credit Union offers auto loans for new and used vehicles , in addition to an option to refinance your vehicle. Used and new purchase loan
The loan quick facts are range from 36 to 84 month APR: Beginning at 4.94%


Finance for a brand new or used vehicle through CCU has no minimum requirements and is available on the internet or in person. If you choose to use the services for buying a car, you could benefit from additional savings. Prequalification is offered regardless of whether you decide to utilize the car-buying services.
Refinance
The loan quick facts are range from 36 to 84 month APR: Beginning at 4.94 percent


Refinancing is a great option to cut down on your monthly installments and get a better loan. Or you can select an earlier loan term than you currently need to pay the outstanding balance faster. Specifics regarding the refinance process is available by contacting the loan expert at CCU. How do you apply for the loan through Consumers Credit Union The loan application process can be accomplished fully online, at one or more CCU branches or over the phone. The process involves just five steps.
Steps to apply Submit the application. Complete the application via the internet or over the phone. It is required to provide your SSN as well as basic information about your contact. This step does not include the pulling of a credit report. But, following approval, you will undergo a full credit check. Discuss details. You will be contact by an CCU agent who'll provide the rates and terms available. Look for a car. Now is the time to begin your search with an idea of your monthly budget. The best rates are provided to customers who utilize this Consumers Car Buying Service. If you're refinancing, you'll be required to disclose information regarding your current loan. Complete documentation. After choosing a vehicle you must forward the purchase contract to CCU by email or by fax. Then you must confirm the purchase agreement online or at the CCU branch. Funds provided to the dealership. In the end, CCU will send the loan check directly to the dealer or you may pick it up yourself.


The information required to apply for a job is: Name Social Security number and birthdate Address Email address and telephone number Employment information Information on income


Consumers Credit Union FAQs
Do Consumer Credit Union offer a rate discount if you enroll in autopay? Yes. The auto loan borrowers get an 0.25 percent reduction in rate in order to help make the auto loan less expensive.



Are there any guarantees that Consumer Credit Union offer extended warranties as well as guaranteed asset protection (GAP)? Consumer Credit Union does not provide extended warranties, however it is in partnership with ForeverCar to offer affordable mechanical repair insurance to borrowers. However, the borrowers are able to purchase GAP insurance directly from the credit union at the moment of the purchase.



What is the procedure? Bankrate rates Consumers Credit Union
Overall score
4.1
Availability
4.5
Although loan amount are not publicly publicized, CCU offers three auto loan products that are available in every state in the 50 states.
Affordability
3.8
CCU employs traditional acceptance criteria. It has an average minimum APR, but does not disclose it's maximum rate.
Customer experience
4.2
CCU offers a user-friendly website that provides every day of the week customer service that is available in a variety of hours.
Transparency
4
CCU allows borrowers to be prequalified without a hard credit test however, it doesn't provide the entire loan data online.


Methodology Bankrate considers 18 data points when evaluating auto loan lenders. Acceptance criteria, rates and fees are available and APR range all influence lender scores. The scores are divided in to four groups. The availability of loans as well as repayment options, dealer requirements and state availability all are a part of this category. Accessibility: This section includes APR ranges, acceptance criteria, fees and discounts. Customer experience: The length of time you have to shop, customer service accessibility, and whether there's an app and autopay availability are all covered by this segment. Transparency: This section accounts for the availability of fees and rates as well as the availability of prequalification.
Disclosure of author: All reviews are prepared by Bankrate.com staff. The opinions expressed are solely those of the reviewer and are not checked or approved by any advertising company. The information that is included, including rates and fees that are included in the review are accurate at the time that the review was written. Review the information at the top of this page, and the lender's site for the most current information.




Written by
Rebecca Betterton
Auto Loans Reporter


Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers to navigate the ways and pitfalls of taking out loans to buy the car they want.
Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since the end of 2021. They are passionate about helping readers feel confident to control their finances through providing clear, well-researched data that makes otherwise complex subjects into digestible pieces.






Auto loans editor










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