Consumers Credit Union Auto Loans: 2022 Review, Rates

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Consumer Credit Union Consumer Credit Union Auto Loan

Consumer Credit Union Auto Loan

Charges

$29 late payment fee after 10 days

Consumer Credit Union Consumer Credit Union Auto Loan

Consumer Credit Union Auto Loan

Charges

$29 late payment fee after 10 days

On the consumer’s credit union’s website

Charges

$29 late payment fee after 10 days

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Pros and cons of consumer credit union auto loans

Insider Featured Auto Loans

  • Vehicle loan

  • Upstart Auto Refinance

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A consumer credit union is best for borrowers with excellent credit who qualify for the credit union’s lower rates, or borrowers who need a cosigner on their loan. If you are not sure of the amount of money you need, a credit union is also a good option because it has no defined minimum or maximum loan amount.

Borrowers avoid principal fees, although they are charged late fees if they fall more than 10 days behind in their payments.

How Consumer Credit Union Auto Loans Compare

How Consumer Credit Unions Compare

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Editor’s Rating

3.5/5

Five-pointed star

Five-pointed star

Five-pointed star

Five-pointed star

Five-pointed star

Regular Annual Percentage Rate (APR)

Starting at 4.69% APR

Editor’s Rating

4/5

Five-pointed star

Five-pointed star

Five-pointed star

Five-pointed star

Five-pointed star

Regular Annual Percentage Rate (APR)

Starts at 4.44% APR

Editor’s Rating

4.5/5

Five-pointed star

Five-pointed star

Five-pointed star

Five-pointed star

Five-pointed star

Regular Annual Percentage Rate (APR)

New, used, refinance as low as 4.54%

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All three lenders have comparable rates and membership is required to get 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 membership fee to a consumer credit union are eligible for consumer credit union membership. The only borrowers eligible for Navy Federal are active duty military members or veterans, as well as Department of Defense employees or retirees. Family members of any of the above mentioned groups are also eligible.

See our rating methodology for auto loans »

Frequently Asked Questions

Consumer Credit Union is a Better Business Bureau-accredited business with an A+ grade. BBB is a nonprofit organization focused on consumer protection and trust. It grades companies by looking at their response to customer complaints, truthfulness in advertising and transparency about business practices.

A good BBB rating does not guarantee that you will have a good relationship with the credit union, so talk to others who have used it to get more information.

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

A consumer’s credit union can pre-approve their loans in 20 minutes. It usually disburses auto loans within 48 hours.

If you make reliable, on-time payments, you can improve your credit score with an auto loan from a credit union. A consumer credit union reports your payments (or lack thereof) to the three major credit bureaus.

A consumer credit union does not have a minimum credit score required for its auto loans. Instead, it considers each applicant on a case-by-case basis.

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