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Consumers Credit Union Auto Loan

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Consumers Credit Union Auto Loan

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in Auto Loans from Consumers Credit Union

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Highlights
Highlights
Credit Score Range 640 - 840
Loan Amount $5,000 - $150,000
APR  (Fixed APR) 2.69% - 21.99%
Loan Term (Months) 6 - 84 months

Consumers Credit Union Auto Loan Review

Consumers Credit Union Auto Loan is offered by Consumers Credit Union, a credit union founded in 1930 and based in Waukegan, IL. Consumers Credit Union Auto Loan is available in 50 states (and Washington, DC).

How much can you borrow via Consumers Credit Union Auto Loan?

Consumers Credit Union Auto Loan auto loan amounts start at $5,000 and go up to $150,000.

What APR does Consumers Credit Union Auto Loan offer on its auto loans?

Consumers Credit Union Auto Loan offers a fixed APR auto loan product that ranges from 2.69% APR up to 21.99% APR. Rate is quoted with autopay discount*.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

What is the maximum loan term you can get with Consumers Credit Union Auto Loan?

Consumers Credit Union Auto Loan has auto loans with terms ranging from 6 to 84 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

Does Consumers Credit Union Auto Loan charge an origination fee?

Yes, Consumers Credit Union Auto Loan may charge a loan origination fee.

Does Consumers Credit Union Auto Loan charge a late fee?

Yes, Consumers Credit Union Auto Loan charges borrowers with a late payment penatly fee of up to $29, which is triggered if you're 10 days late.

Does Consumers Credit Union Auto Loan charge prepayment fees?

Yes, Consumers Credit Union Auto Loan does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment can reduce or even cancel the interest savings of repaying a loan early.

Can I pay off early my Consumers Credit Union Auto Loan loan?

Yes, you can. However, Consumers Credit Union charges a prepayment fee if you pay your auto loan early. This fee could reduce or eliminate the savings from paying the auto loan early.

What do you need to qualify for Consumers Credit Union Auto Loan?

Applicants with a credit score of at least 640 and up to 840 are eligible for Consumers Credit Union Auto Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

To qualify for auto loans with Consumers Credit Union Auto Loan, applicants need a minimum annual income of $6,000 or higher. Consumers Credit Union Auto Loan only considers borrowers who are employed and meet the minimum income requirement.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Consumers Credit Union Auto Loan. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Consumers Credit Union Auto Loan. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Proof of insurance
  • Driver's license
  • Government issued photo ID
  • Proof of identity

Does Consumers Credit Union Auto Loan report your account activity to credit bureaus?

Consumers Credit Union Auto Loan reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.

SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Late Fee After 10 days
Late Fee Amount $29
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted Cosigner
Maximum Mileage 300,000
Maximum Vehicle Age 40
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Age 18
Minimum Annual Income $6,000
Supported Income Types
  • 1099 Misc. Income
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • Tax Returns
Verification Documents Required
  • Government Issued Photo ID
  • Proof of Identity
  • Proof of Income
  • Proof of Insurance
  • Social Security Number
  • Driver License (or other photo ID)
Credit Score Range 640 - 840
Approval Speed 24 hours
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Joint Loans Available  
Payment Options
  • Automatic Payments
  • Bank Transfer
  • Cash
  • Check by mail
  • Storefront
Loan Amount $5,000 - $150,000
APR (Fixed APR) 2.69% - 21.99%
Loan Term 6 - 84 months

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