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

Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers with the details of using loans to buy an automobile.







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

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









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make better financial choices by providing you with interactive financial calculators and tools that provide objective and original content. We also allow you to conduct research and compare information for free and help you make financial decisions with confidence. Bankrate has agreements with issuers, including but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The offers that appear on this website are provided by companies that compensate us. This compensation can affect the way and when products are featured on the site, such as for instance, the sequence in which they appear within the listing categories in the event that they are not permitted by law. Our mortgage or home equity products, as well as other home lending products. This compensation, however, does have no impact on the content we publish or the reviews that you see on this site. We do not cover the universe of companies or financial offers that may be open to you.




About our reviews . Editorial disclosure The reviews are written by our staff. The opinions expressed in them are only the opinions of the reviewer and have not been reviewed nor accepted by any advertiser. The information, including rates and fees, presented in the review is accurate at the time of the review. Look over the information on the right and the lender's website to find the most current information.








At a glimpse 4.1 Score: 4.1 stars out of 5
Score of the Bankrate

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


Find out about rates on auto loan rates


About Consumers Credit Union Loan amount Not specified
Min. credit score Not specified
APR starting at 5.24%
Funds available in Unspecified



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

CONS Unknown loan amounts
Membership requirement





Consumers Credit Union (CCU) is a credit union based on membership that provides used, new or auto refinance loans. Although you have to be a member, acceptance is only $5 and a deposit of another $5 or more in one of its bank accounts. CCU has numerous brick-and-mortar locations across the nation, with an online application process which allows customers to shop for and finance their vehicle.
Do you qualify? CCU doesn't provide any specific requirements. However, the best rates are generally given to drivers with a strong credit history, as credit is used as the primary factor for approval with CCU. Our favorite things and what don't like Though some loan particulars aren't made public, CCU does offer many benefits and discounts for loan holders. What we like In-person availability. CCU has many branches throughout the United States. TrueCar purchasing service. The car buying service that is partnered with TrueCar helps you save even more money. Additionally, you can locate the ideal car and secure financing all in one location. Preapproved financing. Drivers can access the online preapproval tool to review financing numbers without impacting their scores on credit. We don't like unreported loan amounts. CCU does not disclose loan amounts for used, new or refinance loans. Membership conditions. You must be a member of CCU to be eligible for the auto loan approval. How to contact Consumers Credit Union CCU offers assistance to its customers on Monday through Friday, from 8 a.m. to six 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 answered via secure messaging on the website.
Auto loan kinds offered Consumers Credit Union offers auto loans for both used and new automobiles, as well as the option of refinancing your auto. Used and new purchases are eligible for loan
The loan quick facts are range from 36 to 84 month APR: Beginning at 4.94%


The financing of a new or used car through CCU does not require a minimum amount and is available either online or in person. If you choose to shop through the available car-buying service, you can get additional savings. Prequalification is available even if you decide not to utilize the car-buying services.
Refinance
Loan quick facts Terms range from 36 to 84 month APR: Starting at 4.94%


Refinancing can be a fantastic way to save money on your monthly payment and leave with a better loan. You can also opt for the shorter loan duration than the one you currently need to pay the outstanding balance more quickly. Details regarding refinancing are available by calling a loan professional with CCU. How to apply for an loan through Consumers Credit Union The loan application procedure can be completed entirely online, either at one or more CCU branches or over the phone. The process takes five simple steps.
Steps to apply Submit your application. Complete the application online or over the phone. You will need to provide your SSN along with basic contact information. This is not an actual credit check. But, following approval the applicant will be subjected to an entire credit report. Discuss details. You will be called by a CCU agent who'll share available rates and terms. Find the perfect car. You now can begin your shopping with an idea of your monthly budget. The most competitive rates are available to customers who utilize the Consumers Car Buying Service. If you're looking to refinance, you'll have to give details about your current loan. Complete documentation. Once you've decided to purchase a car, you will forward the purchase contract to CCU by email or by fax. You must then sign off on the documents on the internet or in an CCU branch. Funds provided to the dealership. Then, CCU will send the loan check directly to the dealer, or you can collect it yourself.


Required application information Name Social Security number and birthdate Address Email address and phone number Information about income


Consumers Credit Union FAQs
Does Consumer Credit Union offer a rate reduction if you are enrolled in autopay? Yes. Auto loan applicants get a 0.25 percent reduction in rate to make their auto loan more affordable.



Do Consumer Credit Union offer extended warranties as well as guarantee asset protection (GAP)? Consumer Credit Union does not provide extended warranties, however it is partnered with ForeverCar to offer affordable mechanical repair coverage for those who borrow. However, customers can purchase GAP coverage directly through Credit Union at time of purchase.



What is the procedure? Bankrate Rates Consumers Credit Union
Overall score
4.1
The availability
4.5
Even though loan amounts aren't disclosed, CCU offers three auto loan products in every state in the 50 states.
Affordability
3.8
CCU utilizes the traditional acceptance criteria. It has an average minimum APR, but doesn't disclose the maximum amount of APR.
Customer experience
4.2
CCU offers a user-friendly website that provides all the time customer service with a range of hours.
Transparency
4
CCU lets borrowers get prequalified without a hard credit test however, it doesn't provide the entire loan details online.


Methodology Bankrate considers 18 data points when evaluating auto loan lenders. Acceptance criteria, whether fees and rates are available and APR range all influence lender scores. These scores are broken up in to four groups. Availability : Loan amounts and repayment options, dealership requirements, and availability in the state all contribute to this section. Accessibility: This section includes APR ranges and acceptance criteria, as well as fees and discounts. Customer experience: How long you're required to shop, customer service availability, whether there's an app and autopay availability are covered by this segment. Transparency: This category accounts for the availability of fees and rates along with whether or not prequalification is offered.
Disclosure of author Reviewers are supervised by Bankrate.com staff. The opinions expressed are solely those of the reviewer , and have not been reviewed or approved by any advertising company. The information, including rates and fees provided in the review is accurate up to the date when the review first appeared. Review the information on the right and the lender's website to find the most current details.




Written by
Rebecca Betterton
Auto Loans Reporter


Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers in navigating the ins and outs of securely using loans to buy the car they want.
Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate from late 2021. They are passionate about helping readers gain the confidence to control their finances with concise, well-studied information that breaks down otherwise complex topics into manageable bites.






Auto loans editor










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