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Consumers Credit Union
Consumers Credit Union: 2023 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 specializes in assisting readers with the ways and pitfalls of taking out loans to purchase a car.







Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate from late 2021. They are passionate about helping readers gain the confidence to control their finances by providing clear, well-researched information that breaks down complicated topics into digestible chunks.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make better financial decisions by offering interactive financial calculators and tools, publishing original and objective content, by enabling users to conduct research and analyze data for no cost and help you make informed financial decisions. Bankrate has partnerships with issuers, including but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The offers that appear on this site are from companies who pay us. This compensation can affect the way and where products appear on this website, for example such things as the sequence in which they appear within the listing categories and other categories, unless prohibited by law. This applies to our mortgage or home equity products, as well as other home loan products. This compensation, however, does not influence the information we provide, or the reviews you read on this site. We do not cover the universe of companies or financial offerings that could be available to you.




About our reviews . Editorial disclosure: All reviews are prepared by our staff. The opinions expressed in them are only those of the reviewer and have not been reviewed nor approved by any advertiser. The information, including rates and fees provided in the review is accurate as of the date of the review. Check the data at the top of this page as well as the lender's site for the most recent information.








A glance 4.1 Score: 4.1 stars out of 5
Score of the Bankrate

Rating of Availability: 4.5 stars out of 5
Cost of Affordability: 3.8 stars out of five
The Customer Service Rating is 4.2 five stars of 5
Transparency Rating 4 stars out of 5


Compare auto loan rates


Information 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 signing off on an application, think about the benefits and drawbacks of a Consumers Credit Union auto loan.
PROS In-person availability
TrueCar buying service
Preapproval available

CONS Unknown loan amounts
Membership is a requirement





Consumers Credit Union (CCU) is a member-owned credit union that offers new, used as well as auto refinance loans. While you must be an active member, the acceptance process is only $5 as well as a deposit of $5 or more in any of their bank accounts. CCU has many brick-and-mortar establishments across the country, along with an online application procedure where drivers can both purchase and finance their automobile.
Do you qualify? CCU does not provide specific conditions. However, the highest rates are generally given to those with a good credit score, since credit is used as the primary factor for acceptance by CCU. Our favorite things and what do not like Although some loan details aren't disclosed, CCU does offer many benefits and discounts to loan holders. We like the convenience of in-person access. CCU has many branches across the country. TrueCar purchasing service. The car buying service that is partnered with TrueCar helps to save money. Plus, you can find the ideal vehicle and secured financing all at one time. Preapproved financing. Drivers can use the online preapproval tool to check financing figures without impacting the credit score of their clients. What we don't like Undisclosed loan amounts. CCU does not disclose loan amounts for used, new as well as refinance loans. Membership requirements. You must be an active member of CCU to be eligible for auto loan approval. Contact information Consumers Credit Union CCU offers assistance to its customers on Monday through Friday, between 8 a.m. until 6 p.m. CT and on Saturdays from 8 a.m. until two p.m. CT. Along with help available over the phone, questions can be addressed via secure messaging on the website.
Auto loan types offered Consumers Credit Union offers auto loans for used and new vehicles , in addition to the option of refinancing your auto. Used and new purchase loan
Loan quick facts Terms range from 36 to 84 month APR: From 4.94%


Finance for a brand new or used vehicle through CCU does not require a minimum amount and can be done either online as well as in-person. If you decide to browse the available services for buying a car, you could enjoy additional savings. Prequalification is available even if you choose not to use the car-buying service.
Refinance
Loan quick facts Terms range from 36 to 84 month APR: Beginning at 4.94 percent


Refinancing is a great method to reduce your monthly installments and walk away with an improved loan. You can also choose an earlier loan time frame than you must pay off your outstanding balance off faster. Details regarding refinancing can be found by calling a loan professional at CCU. How to apply for the loan with Consumers Credit Union The loan application procedure can be completed entirely online, either at one or more CCU branches, or by phone. The process involves just five steps.
Steps to apply Submit your application. You can fill out the application online or over the phone. You'll need to supply your SSN along with basic contact details. This step does not include an actual credit check. However, if you are approved, you will undergo a full credit check. Discuss details. You will be contact by an CCU agent who'll explain available rates and terms. Look for a car. It is now time to start your shopping with an idea of your monthly budget. The best rates are offered to customers who utilize the Consumers Car Buying Service. If you're looking to refinance, you'll need to provide information about your current loan. Complete documentation. Once you've decided to purchase a car, you'll need to send the purchase agreement to CCU via email or via fax. You must then confirm the purchase agreement on the internet or in a 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 birth date Address Email address, as well as phone number Employment information Income


Consumers Credit Union FAQs
Do Consumer Credit Union offer a rate discount when you sign up in autopay? Yes. The auto loan borrowers get the benefit of a 0.25 percent rate reduction in order to help make the auto loan more affordable.



Do Consumer Credit Union offer extended warranties and guarantee Asset Protection (GAP)? Consumer Credit Union does not provide extended warranties. However, it is in partnership with ForeverCar to offer low-cost mechanical repair coverage for those who borrow. However, the borrowers are able to purchase GAP insurance directly from the credit union at moment of the purchase.



What is the procedure? Bankrate rates Consumers Credit Union
Overall score
4.1
Availability
4.5
Even though loan amounts are not made public, CCU offers three auto loan products in all 50 states.
Affordability
3.8
CCU uses traditional acceptance criteria and holds a middle-of-the-road minimum APR but doesn't disclose the maximum amount of APR.
Customer experience
4.2
CCU offers a user-friendly website that offers every day of the week customer service with a range of hours.
Transparency
4
CCU allows borrowers to get prequalified without a hard credit test however, it doesn't provide the entire loan details online.


Methodology Bankrate considers 18 data points when rating auto loan lenders. Acceptance criteria, rates and fees are offered and the range of APR all impact lender scores. These scores are split into four categories. Accessibility : Loan amounts and repayment options, dealership requirements and availability to state are a part of this section. Affordability: This section houses APR ranges and acceptance criteria, along with discounts and fees. Customer experience: The length of time you're required to shop, the customer service availability, whether there's an app and autopay availability are all covered in this section. Transparency: This section accounts for the availability of fees and rates along with the availability of prequalification.
Disclaimer The reviews are written by Bankrate.com staff. The opinions expressed in the review are only those of the reviewer , and have not been reviewed or approved by any advertiser. The information that is included, including rates and fees that are included in the review is accurate at the time that the review was written. Check the data on the right as well as the lender's website to find the most up-to-date information.




Written by
Rebecca Betterton
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 using loans to buy a car.
Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate since the end of 2021. They are passionate about helping readers feel confident to manage their finances with precise, well-researched and precise data that makes complicated topics into bite-sized pieces.






Auto loans editor










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