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Consumers Credit Union
Consumers Credit Union 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 specializes in assisting readers with 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 confidence to manage their finances through providing precise, well-researched and well-researched content that breaks down otherwise complex topics into manageable bites.
Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make better financial choices by providing you with interactive financial calculators and tools, publishing original and objective content, by enabling users to conduct research and compare information for free – so that you can 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 Earn Money The offers that appear on this site are from companies that pay us. This compensation may impact how and where products are displayed on this website, for example such things as the order in which they be listed within the categories of listing and other categories, unless prohibited by law. Our mortgage or home equity products, as well as other products for home loans. This compensation, however, does not influence the content we publish or the reviews appear on this website. We do not contain the universe of companies or financial deals that could be open to you.
About our reviews Editorial disclosure Reviewers are supervised by our staff. The opinions expressed in them are only the opinions of the reviewer and are not reviewed or approved by any advertiser. The information such as rates and charges, presented in the review are accurate at the time when the review first appeared. Check the data in the upper right hand corner of the page, and the lender’s website for the most current details.
At a look 4.1 Score: 4.1 stars out of five
Score of the Bankrate
Rating of Availability: 4.5 stars out of 5
Cost of Affordability: 3.8 stars out of five
Customer Experience Rating: 4.2 stars out of five
Transparency Rating 4 stars out of 5
Compare rates for auto loan rates
About Consumers Credit Union Loan amount Unknown
Min. credit score Unspecified
APR that starts at 5.24%
Funds available in Unspecified
Pros and pros and Consumers Credit Union auto loans Before you sign off on an application, take note of the benefits and drawbacks of the Consumers Credit Union auto loan.
PROS In-person availability
TrueCar buying service
Preapproval available
CONS Undisclosed loan amounts
The requirement for membership
Consumers Credit Union (CCU) is a member-owned credit union that provides used, new and auto refinance loans. If you are an active member, the acceptance process is only $5 as well as a deposit of $5 or more into the bank account of one. CCU has a variety of brick and mortar locations across the country, along the online registration process that allows drivers to shop for and finance their car.
Do you qualify? CCU does not provide particular criteria. However, the best rates are generally given to customers with a solid credit score, since credit is used as the primary factor for acceptance by CCU. Our favorite things and don’t like Though some loan specifics are not disclosed, CCU does offer many discounts and benefits to loan holders. What we like In-person availability. CCU has numerous branches across the nation. TrueCar buying service. The car buying service that is partnered with TrueCar helps to save money. In addition, you will be able to find the ideal car and secure financing in one place. Preapproved financing. Drivers can utilize the online tool for preapproval to check financing figures without impacting the credit score of their clients. We are not a fan of unpublished loan amounts. CCU doesn’t disclose loan amounts for used, new as well as refinance loans. Membership conditions. You must be a member of CCU in order to get an auto loan approval. How to contact Consumers Credit Union CCU offers assistance to its customers every day from 8 a.m. until 6 p.m. CT and on Saturdays between 8 a.m. until 2 p.m. CT. Along with help available over the phone, queries can be answered via secure messaging via the website.
Auto loan kinds offered Consumers Credit Union offers auto loans for new and used vehicles along with an option to refinance your vehicle. New and used purchase loan
Loan quick facts Terms: 36 to 84 months APR: Beginning at 4.94 percent
The financing of a new or used car through CCU has no minimum requirements and can be done on the internet as well as in-person. If you choose to use the vehicle buying service, you will enjoy additional savings. Prequalification is possible regardless of whether you decide to make use of the car buying service.
Refinance
Loan quick facts Terms include: 36 to 84 months APR: Starting at 4.94 percent
Refinancing is a great method to reduce your monthly payment and leave with a better loan. Or you can select a shorter loan time frame than you must pay off your outstanding balance off faster. Details regarding refinancing are available by contacting an loan expert at CCU. How to apply for the loan through Consumers Credit Union The loan application process can be accomplished fully online, at any at one of CCU branches or by phone. The process is a simple five steps.
Steps to apply Submit the application. You can fill out the application online or over the phone. It is required to provide your SSN along with basic information about your contact. This step does not include an actual credit check. But, following approval the applicant will be subjected to a full credit check. Discuss details. You will be contacted by an CCU agent who’ll explain available rates and terms. Find the perfect car. It is now time to start your shopping with an idea of the monthly payment you’ll be making. The best rates are offered to those who use this Consumers Car Buying Service. If you’re refinancing, you’ll need to provide information about your current loan. Complete documentation. When you have decided on a car, you’ll need to transmit the purchase agreement to CCU via email or via fax. You must then sign off on the documents either online or in a CCU branch. Funds provided to the dealership. Then, 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 phone number Employment information Information on income
Consumers Credit Union FAQs
Do Consumer Credit Union offer a rate discount if you enroll in autopay? Yes. Auto loan applicants receive an 0.25 percent reduction in rate so that they can make an auto loan less expensive.
Are there any guarantees that Consumer Credit Union offer extended warranties and guarantee Asset Protection (GAP)? Consumer Credit Union does not provide extended warranties. However, it has partnered with ForeverCar to provide affordable mechanical repair insurance for borrowers. However, the borrowers are able to purchase GAP coverage directly through the credit union at moment of purchase.
What is the procedure? Bankrate Rates Consumers Credit Union
Overall score
4.1
Availability
4.5
Although loan amounts are not made public, CCU offers three auto loan products in every state in the 50 states.
Affordability
3.8
CCU utilizes the traditional acceptance criteria and holds an APR that is middle of the road, however it CCU does not reveal it’s maximum rate.
Customer experience
4.2
CCU offers an easy-to-use website that offers every day of the week customer service with a range of hours.
Transparency
4
CCU allows borrowers to be prequalified without a credit check however it doesn’t publish all of its loan data online.
Methodology Bankrate considers 18 data points when evaluating auto loan lenders. Acceptance criteria, rates and fees are available and the range of APR all impact lender scores. The scores are divided into four categories. The availability of loans and repayment options, dealership requirements, and availability in the state all are a part of this section. Accessibility: This section includes APR ranges and acceptance criteria, as well as discounts and fees. Customer experience: The length of time you have to spend shopping, customer service availability, whether there’s an app or autopay option are covered within this category. Transparency: This section accounts for the availability of fees and rates and the availability of prequalification.
Editorial disclosure Reviewers are supervised by Bankrate.com staff. The opinions expressed in the review are only those of the reviewer , and are not reviewed or approved by any advertising company. The information, including rates and fees that are included in the review is accurate up to the date that the review was written. Review the information on the right as well as the lender’s website to find the most current 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 taking out loans to buy the car they want.
The edit was done by 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 manage their finances through providing concise, well-studied facts that break down otherwise complicated topics into bite-sized pieces.
Auto loans editor
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