Last Updated: 04/18/2025
Santander Consumer USA Car Financing
Unaffiliated
in Auto Loans from Santander Bank
Last Updated: 04/18/2025
SuperMoney User Recommendation Score -68
Strongly not recommended111 total votes
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Highlights
Community Rating
Strongly not recommended
Amount Range
$5,000 - $75,000
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APR (Fixed APR)
Starting at 1.99%(Verified 06/21/2024)
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Credit Score Range
650 - 850
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Loan Term (Months)
Up to 72
Number of Reviews
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 Auto 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.
To qualify, applicants may need to provide the following documentation:
- Driver's license or other government photo ID
- 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 fund the car loan within 7 business days of approval.Does Santander Bank perform a hard credit pull?
Yes, Santander Auto financing performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Is Santander Bank a legit company?
Santander Bank was founded in 1857, it is a well-established company that has been in business for 169 years. Santander Consumer USA Car Financing is strongly not recommended by SuperMoney community users.
Santander Consumer USA Car Financing Disclosure: "Rates depend on the individual's excellent and substantial credit and key loan characteristics, including amount, term, vehicle age. A representative example of payment terms are as follows: a loan amount of $20,000 with an APR of 7.50% and a term of 70 months would have a monthly payment of $353.63 with no down-payment required."
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Message from Santander Auto financing
Message from our editor
What we love about Santander Auto Loans
Santander auto loans offer low rates, making them one of the cheaper ways to finance a new car. You can also check what rates you might qualify for without having to let Santander pull your credit, making it easier to compare with other lenders. If you have a Santander checking account, you can save even more by signing up for automatic payments, which will net you a 0.25% interest rate discount.
What could Santander Auto Loans do better?
The primary drawback of Santander’s auto loans is that they’re not widely available. Santander mainly operates in the Northeastern United States. If you live elsewhere, you won’t be able to apply for a loan from the bank. Another drawback is that Santander sometimes adds additional fees to its loans, though it does not display the fees that it charges on its website. Customers may be surprised by having to pay more than they expected to get a loan. Before you sign any loan agreement, make sure you read the fine print and the fee schedule for the loan.
Santander Auto Loans‘s backstory
Santander Bank is the American subsidiary of the Spanish Santander Group. The company is based in Boston, Massachusetts and has roughly 650 branches across the Northeast. The bank was founded in 1902 in Wyomissing, Pennsylvania. It offers a full suite of financial services, including checking and savings accounts, lending, and investing.
The Verdict
If you live in New England or one of the other states that Santander serves, its auto loans can be a good choice. You can check your rates without a hard pull on your credit, so there’s no reason not to include Santander when you’re doing rate shopping. If you live outside of the bank’s service area, you won’t be eligible for a loan.
Hours of Operation
Sunday
8:00AM - 8:00PM
Monday
8:00AM - 8:00PM
Tuesday
8:00AM - 8:00PM
Wednesday
8:00AM - 8:00PM
Thursday
8:00AM - 8:00PM
Friday
8:00AM - 8:00PM
Saturday
8:00AM - 8:00PM