Consumers Credit Union Auto Loans Review

Consumers Credit Union Auto Loans Review

Consumers Credit Union auto loans get a 9.1 out of 10 from our reviewers because the company has a good name and offers a wide range of loan amounts and terms.

Review of Consumers Credit Union 9.1 out of 10

Consumers Credit Union helps its members get auto loans or refinance them for up to 84 months with no maximum or minimum loan amounts, prepayment penalties, or application fees.

In this review, we’ll look at Consumers Credit Union auto loans to help you decide if CCU’s auto loans and refinancing are right for you. We’ll talk about the credit union’s reputation, the details of loans, rates, how customers have been treated, and more. We’ll also compare it to other lenders with competitive rates and features to help you find the best auto loan and auto refinance rates.

The Credit Union for Consumers

Consumers Credit Union helps people buy and refinance new and used cars, RVs, motorcycles, boats, and boats. Even though the credit union’s only branches are in Illinois, it offers auto loans to people all over the country. It offers personal loans, a variety of home loans, and banking products like credit cards and checking accounts, in addition to auto loans.

Details about a car loan from Consumers Credit Union

If you are approved for a car loan from Consumers Credit Union and have great credit, your APR could be as low as 5.24 percent. The minimum APRs for loans from the credit union depend on how old the car you want to buy or refinance is. It has flexible terms, so there is no minimum or maximum loan size, and you have up to 84 months to pay off your loan.

Prequalification is available from CCU, and it won’t hurt your credit score. If you use TrueCar’s service for buying a car, you can also get preapproved.

You only pay interest on the part of your auto loan that you haven’t paid off yet, and if you choose auto pay, your interest rate could go down by up to 0.25%. Also, if you pay off your car loan early, you won’t be charged a fee, and there is no fee to apply for a loan. You must join CCU to get an auto loan. A one-time fee of $5 is needed to join.

The minimum payment on a loan depends on the loan offer. A car loan calculator can help you figure out how much you might have to pay each month.

Reviews of the Consumers Credit Union

Even though Consumers Credit Union has an A+ rating from the BBB and is an accredited business, the average customer review score on the company’s website is only 1.7 out of 5 stars. In the last three years, the BBB has resolved more than 60 customer complaints.

Customers give Consumers Credit Union an average rating of 2.3 out of 5 stars on Trustpilot, but this is based on only a few reviews. Our review team gives CCU a customer experience score of 6.4% out of a possible 10.0.

Positive Reviews of Consumers Credit Union

Few people have good things to say about Consumers Credit Union. Some customers say that the application process is quick and that the company pays attention to the customer’s financing needs. They also say that the website and mobile app are easy to use.

Bad Reviews of Consumers Credit Unions

Most of the bad reviews are about how the company treats its customers. A lot of people say that customer service reps made mistakes and put them on hold for a long time. Some reviewers warn others about bad management of third-party contacts and lower credit scores caused by false reports of missed payments.

Our review team tried to get a response from Consumers Credit Union about its bad customer reviews and low ratings for customer experience, but they didn’t respond.

Auto Loans from Consumers Credit Union:

Overall, we give the auto loans from Consumers Credit Union high marks. But it’s important to pay attention to the many bad customer reviews of the company. Before you sign up with a car lender, you should compare their offers to find the best one for you.

The best low-rate option is MyAutoLoan.

MyAutoloan will lend money to people with FICO scores as low as 575. This means that even people with bad credit may be able to get a loan. The company helps people in 48 states find lenders who offer car loans for new and used cars, lease buyouts, loans from private parties, and refinancing. In our review of myAutoloan, we called it the Best Low-Rate Option because people with good credit can get low starting APRs.

Most Well-Rounded: Autopay

Autopay offers auto loans in all states to people with a minimum credit score of 575 and terms that last from 24 to 96 months. We called the company “Most Well-Rounded” because it offers a wide range of loan options, such as financing for new and used cars, standard and cash-out refinancing, and lease-buyout loans.

What credit score do you need at a credit union to refinance your car?

Depending on which credit union you want to use, you may need a certain minimum credit score to refinance your car. Some credit unions don’t require a minimum credit score to refinance an auto loan. At Consumers Credit Union, you need at least a 640 credit score.

People trust us to give them fair and accurate information, so we made a thorough rating system to figure out how to rank the best auto loan companies. We got information on dozens of loan companies so we could rate them on a wide range of factors. The end result was an overall rating for each provider, with the companies that got the most points at the top of the list.

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