At a glance
- Availability
- Affordability
- Customer Experience
- Transparency
About Consumers Credit Union
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Loan amount
Not specified
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Min. credit score
Not specified
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APR from
Starting at 5.24%
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Funds available in
Not specified
Consumers Credit Union: 2023 Auto loan review
Published 2023-01-01 00:00:00
Pros and cons of Consumers Credit Union auto loans
Before signing off on an application, consider the benefits and drawbacks of a Consumers Credit Union auto loan.
PROS
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In-person availability
TrueCar buying service
Preapproval available
CONS
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Undisclosed loan amounts
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Membership requirement
Consumers Credit Union (CCU) is a membership-based credit union that offers new, used and auto refinance loans. While you must be a member, acceptance is only a $5 fee and a deposit of another $5 or more to one of its bank accounts. CCU has many brick-and-mortar establishments across the country, along with an online application process where drivers can both shop for and finance their car.
Do you qualify?
CCU does not disclose any specific requirements. However, the best rates are generally given to drivers with a strong credit history, as credit is used as the primary measure for approval with CCU.
What we like and what we 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 many branches across the country.
- TrueCar buying service. The partnered car-buying service helps you access additional savings. Plus, you can find the perfect ride and secure financing all in one place.
- Preapproved financing. Drivers can use the online preapproval tool to check financing figures without impacting their credit scores.
What we don't like
- Undisclosed loan amounts. CCU does not disclose loan amounts for new, used or refinance loans.
- Membership requirements. You must be a member of CCU to gain auto loan approval.
How to contact Consumers Credit Union
CCU offers assistance to customers Monday through Friday from 8 a.m. to 6 p.m. CT and on Saturdays from 8 a.m. to 2 p.m. CT. Along with help available over the phone, questions can be answered via secure messaging on the website.Auto loan types offered
Consumers Credit Union offers auto loans for new and used vehicles along with an auto refinance option.
New and used purchase loan
Financing for a new or used vehicle through CCU holds no minimum requirement and can be done online or in person. If you choose to shop through the available car-buying service, you can benefit from additional savings. Prequalification is available even if you choose not to use the car-buying service.Refinance
Refinancing is a great way to save money on your monthly payment and walk away with a better loan. Or you can choose a shorter loan term than you currently have to pay your outstanding balance off faster. Specifics regarding the refinance process can be found by contacting a loan professional with CCU.
How to apply for a loan with Consumers Credit Union
The loan application process can be accomplished fully online, at one of the CCU branches or over the phone. The process takes five simple steps.
Consumers Credit Union FAQs
How Bankrate rates Consumers Credit Union
Overall score 4.6 Availability 4.6 Although loan amounts are not disclosed, CCU offers three auto loan products in all 50 states. Affordability 4.8 CCU has an exceptionally low maximum APR and a number of ways to save money on its auto products. Customer experience 4.4 CCU has an easy-to-navigate website and offers six days a week of customer service with a range of hours. Transparency 4.5 CCU allows borrowers to get prequalified without a hard credit check but doesn't list all of its loan information online. Methodology
Bankrate considers 18 data points when rating auto loan lenders. Acceptance criteria, whether rates and fees are available and APR range all influence lender scores. These scores are broken up into four categories.
- Availability: Loan amounts, repayment options, dealership requirements and state availability all contribute to this category.
- Affordability: This section houses APR ranges, acceptance criteria, fees and discounts.
- Customer experience: How long you have to shop, customer service availability, whether there’s an app and autopay availability are accounted for in this section.
- Transparency: This category accounts for the availability of fees and rates along with whether prequalification is available.
Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.