Consumer Credit Union Auto Loans: 2022 Review, Rates

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Consumer Credit Union Auto Loan

Costs

$29 late payment fee after 10 days

consumer credit union car loan at consumer credit union

Consumer Credit Union Auto Loan

Costs

$29 late payment fee after 10 days

On the Consumers Credit Union website

Costs

$29 late payment fee after 10 days

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Advantages and Disadvantages of Consumers Credit Union Auto Loans

Insider Featured Auto Loans

  • Automatic loan

  • Automatic refinancing

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Consumers Credit Union is best for borrowers with excellent credit who qualify for the lowest credit union rate or for borrowers who need a co-signer on their loan. If you’re not sure how much money you’ll need, a credit union is also a great option because it doesn’t have a set minimum or maximum loan amount.

Borrowers will also avoid origination fees, although they will incur late fees if they are more than 10 days late on their payments.

Consumers Credit Union Auto Loan Comparison

How Consumers Credit Union Compares

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Editor’s note

3.5/5
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Regular Annual Percentage Rate (APR)

Starts at 4.69% APR

Editor’s note

4/5
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Regular Annual Percentage Rate (APR)

Starts at 4.44% APR

Editor’s note

4.5/5
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Regular Annual Percentage Rate (APR)

New, used, refinance as low as 4.54%

All three lenders have comparable rates and require membership to obtain a loan. You can become a member of PenFed by opening a savings account with a minimum deposit of $5. Borrowers who pay a one-time $5 dues to the Consumers Cooperative Association are eligible for Consumers Credit Union membership. The only eligible borrowers for Navy Federal are active military personnel or veterans, and employees or retirees of the Department of Defense. Family members of any of the above groups are also eligible.

See our auto loan scoring methodology »

Frequently Asked Questions

Consumers Credit Union is a Better Business Bureau accredited company that has an A+ rating. The BBB is a non-profit organization focused on consumer protection and trust. It ranks companies by examining their response to customer complaints, the truthfulness of advertisements and the transparency of business practices.

A good BBB rating doesn’t guarantee you’ll have a good relationship with the credit union, so talk to other people who’ve used it to get more information.

The company has not been involved in any recent controversies. Between its top-notch BBB rating and clean history, you might feel comfortable borrowing from Consumers Credit Union.

Consumers Credit Union can offer pre-approval within 20 minutes for its loans. It will also typically fund car loans within 48 hours.

If you make reliable, on-time payments, you can improve your credit score with a car loan from a credit union. Consumers Credit Union will report your payments (or lack thereof) to the three major credit bureaus.

Consumers Credit Union does not have a minimum credit score required for its auto loans. Instead, it reviews each candidate on a case-by-case basis.