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Consumers Credit Union Review

Online Auto Finance

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2.8 10 Reviews

Consumers Credit Union Summary

Consumers Credit Union offers auto loans that are known for competitive rates and flexible terms, catering to a wide range of borrowers, including those with less than perfect credit. Here's a summary of CCU's auto loan offerings. Consumers Credit Union provides loans for both new and used vehicles, and the loan amounts can vary widely to accommodate different price ranges of cars. The interest rates for Consumers Credit Union auto loans are competitive and can be even lower for borrowers with excellent credit. Rates may start at around APR but can vary based on credit history, loan term, and whether the vehicle is new or used. Terms for auto loans can range from short-term options (such as 36 months) to longer terms (up to 84 months), giving borrowers flexibility with their monthly payments.

CCU boasts 100% financing for qualified buyers, which means you might not need a down payment to drive away in your new vehicle. This feature is particularly beneficial for those who may not have immediate cash on hand. The pre-approval process at CCU is designed to save you both time and money. By getting pre-approved, you know exactly what you can afford, allowing you to shop with confidence and negotiate better with dealerships. Through the Consumers Car Buying Service powered by TrueCar, members can enjoy a hassle-free car buying experience. This service helps members see what others have paid for their new vehicles and get member pricing on in-stock cars.

PROS

+ Lower Interest Rates vs Traditional Banks

+ Great For Bad Credit 

+ Rates Discounts Available 


CONS

- Not a Direct Lender

- Limited Customer Service

- Membership Requirement

Consumer Reviews

We compile reviews and tesemonials from sources around the web. 

Customer Service

We consider the consuers experience and security above all. 

Trustworthiness

The lenders reputation and track-record for handeling issues and information 

Loan Details:


Loan Amount: up to  $250,000


APR: From 6.4%


Loan Term: 12 to 84 months


Application Fee: None

Qualifications:


Minimum Credit Score: None (550 Reccomended)


Recommended gross income: None


Bankruptcy restrictions: must be discharged or dismissed.

Review Score: 
Service Score:
Trust Score: 

3.9


4.1


4.6

Final Score:

4.0/5

APR From: 2.4%
Loan Amount: Starting at $20,000
Recommended Credit Score: 575
MyAuto Loan
APR From: 2.9%
Loan Amount: Up to $100,000
Recommended Credit Score: 500
SuperMoney Auto Loans
APR From: 3.9%
Loan Amount: Up to $40,000
Recommended Credit Score: 400
Auto Credit Express

Consumers Credit Union Application Process

The application process for an auto loan with Consumers Credit Union is designed to be straightforward and user-friendly. Here's a general overview of the steps involved:

Membership Eligibility: Before applying for an auto loan, you must be eligible for membership with Consumers Credit Union. You can join CCU by meeting certain criteria and paying a one-time membership fee plus depositing into a share/savings account.

Loan Application: You can start the auto loan application process online, by phone, or in person at a branch. You'll need to provide personal information, employment details, income, and the type of vehicle you're interested in purchasing. You may need to provide additional documentation to verify your income, employment, and identity. This could include recent pay stubs, tax returns, and a government-issued ID. CCU will perform a credit check to determine your creditworthiness. Your credit score and history will influence the terms and rates you're offered.

Pre-Approval: If you qualify, you may receive a pre-approval for your loan, which will outline your approved loan amount, interest rate, and terms. With pre-approval, you can shop for a car that fits within the loan parameters. CCU's car buying service can assist in this process.

Loan Finalization: Once you've selected a vehicle, you'll need to provide the purchase agreement to CCU to finalize the loan. They will then prepare the loan documents for your signature. After all documents are signed and any necessary down payment is made, CCU will fund the loan, paying the dealer or seller directly. You'll begin repaying your auto loan according to the agreed schedule, which typically involves monthly payments

Consumers Credit Union Reviews

Consumers Credit Union has a mix of reviews from customers. Consumers Credit Union auto loans are generally well-received, with reviewers rating them a 9.3 out of 10 for their reputation and the wide range of loan amounts and terms available. The starting rates are competitive, ranging from 5.54% to 9.04%, and include a 0.25% autopay discount

Competitive Rates
CCU offers rates that are considered attractive, starting as low as 5.54% for newer models, which can be further reduced with automatic payments.

Flexible Loan Terms
Loan terms can be extended up to 84 months, providing flexibility for borrowers to manage their monthly payments.

Additional Services
The car-buying service offered through TrueCar is a value-added feature that can simplify the car buying process for members

Negative Feedback:

Customer Service Issues: There are complaints about poor customer service, which include difficulties in communication and resolving issues with accounts [2][3].

Account Management Complaints: Some customers have reported experiencing frozen accounts and delays in refunds, causing inconvenience and frustration [2][3].

Fees and Accessibility: Negative reviews also mention dissatisfaction with fees charged for small account balances and challenges with accessing accounts, which may point towards a less than optimal user experience for some [

Our Recommendations for Auto Loans


 

Consumers Credit Union- Visit Site.

Auto Credit Express is one of the leading auto finance companies in the country. Working with a network of over 1,000 dealerships across the country to help people with bad credit get financing for their new car. We understand that bad things happen to good people and we are here to help you get back on the road to financial recovery. Our process is simple and easy. Just fill out our online application and we will match you with a dealership in your area that can work with you to get you the financing you need. We have a 97% approval rating and we are committed to helping you get into the car of your dreams. So don't wait any longer, apply today! - Read Full Review. 

 

Get Approved as Low as 6.4% | Start Now >
 

MyAutoloan - Visit Site.


For those seeking a variety of auto loan options, MyAutoLoan is a compelling choice. This platform acts as an intermediary that connects borrowers with multiple lenders, allowing you to compare real-time rates and terms from the comfort of your home. MyAutoLoan offers loans for new and used cars, private party purchases, and even lease buyouts. The application process is quick, and applicants can receive loan offers within minutes. However, be mindful that it requires a minimum credit score and applicants must meet specific criteria to qualify. Borrowers appreciate the convenience and the ability to shop around for the best rates without having to commit to a single lender immediately.

Get Approved up to $40,000 | Start Now >

SuperMoney Auto Loans - Visit Site.

SuperMoney stands out as a financial comparison platform that provides a comprehensive analysis of various lending products, including auto loans. It offers a user-friendly experience where you can compare different lenders based on loan terms, rates, and user reviews. SuperMoney isn't a lender itself but provides a valuable service for those who want to make an informed decision. They cater to a wide range of credit scores, making it accessible to a broad spectrum of borrowers. However, since you're dealing with potential multiple lenders, be prepared to navigate through varying qualification requirements. Users have found the educational resources and customer reviews on the platform to be particularly useful.

Get Approved up to $100,000 | Start Now >

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