Santander Consumer USA Car Financing

Santander Consumer USA Car Financing Review

Santander Consumer USA Car Financing is offered by Santander Bank, a bank founded in 1857 and based in Boston, MA. Santander Consumer USA Car Financing are available in 48 states (and Washington, DC).

Santander Auto financing FAQ

How much can you borrow via Santander Auto financing?

Santander Auto financing loan amounts start at $5,000 and go up to $75,000.

What APR does Santander Auto financing offer on its car loans?

Santander Auto financing offers a fixed apr car loan product that ranges from 1.99% APR.

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 auto loan term you can get with Santander Auto financing?

Santander Auto financing has car loans with a maximum term of 72 months. Having the option of longer terms allows borrowers to take on larger auto loan amounts while keeping monthly payments more affordable. However, the longer the term of your car loan, the more interest you will pay.

Does Santander Auto financing charge an origination fee?

Yes, Santander Auto financing may charge a loan origination fee.

Does Santander Auto financing charge a late fee?

Yes, Santander Auto financing charges borrowers with a late payment penatly fee

Does Santander Auto financing charge prepayment fees?

Yes, Santander Auto financing 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 Santander Auto financing loan?

Yes, you can. However, Santander Auto financing charges a prepayment fee if you pay your car loan early. This fee could reduce or eliminate the savings from paying the car loan early.

What do you need to qualify for Santander Consumer USA Car Financing?

Applicants with a credit score of at least 650 and up to 850 may be eligible for Santander Consumer USA Car Financing. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Santander Consumer USA Car Financing does not have or does not disclose a minimum annual income eligibility requirement. Santander Consumer USA Car Financing only considers borrowers who are employed. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

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 are eligible to apply for a loan via Santander Consumer USA Car Financing. Their rates fall within the limits of The Military Lending Act.

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

• Driver's license
• Proof of citizenship or residence permit

What is the estimated funding time for a car loan via Santander Auto financing?

Santander Auto financing will typically approve (or deny) a car loan application within 24 hours and fund the car loan within 7 business days of approval.

Is Santander Bank a legit company?

Santander Bank was founded in 1857, it is a well-established company that has been in business for 166 years. Santander Consumer USA Car Financing are strongly not recommended by SuperMoney community users.