Auto Loans
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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
Disclaimer popup with additional information
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 penalty 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. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.
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."
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...
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
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users don't recommend this product, giving it a user recommendation score of -68, or 1.6 on a 5-point rating scale.
-68
-1000+100
No one recommends
Everyone recommends
Santander Consumer USA Car Financing Community Reviews
Would you recommend Santander Consumer USA Car Financing to your friends?
CW
Cheryl W.
Mar 2, 2024
May or may not recommend
As a retired US Navy veteran who lost friends during the gulf war and post 911 war protecting USA and our allies from enemies foreign and domestic. Americans true enemy is greedy financial institutions, healthcare pharmaceutical and real estate companies that victimize America consumers. Foreign enemies is the product of USA greed.
Colleen W.
Feb 22, 2024
May or may not recommend
I received a letter stating Santander was not able to extend credit 3 weeks after I received my vehicle. I phoned Santander and eventually spoke to the 'Executive' rep. There was no apology for an obvious oversight on their part. While I explained I did not understand a letter being mailed to 3 weeks after I had my car, had signed loan papers, the rep said 'No, we did nothing ...Show More
JS
Janice S.
May 27, 2023
May or may not recommend
Santander Consumer USA is criminal company that preys upon individuals with financial challenges and subprime credit. In 2017 they had to pay $25.9M to victims in a class action lawsuit that found them guilty of predatory loans that achieved profitable outcomes by predicting the victims would default on their loans and their vehicles repossessed and victims sued for outstanding balances. In 2020 Santander Consumer USA was ordered to ...Show More
U
Anonymous
Mar 13, 2023
May or may not recommend
I PAY MY CAR IN JULY, 14 2022. Until now i don't receive my, GAP INSURANCE THEY ARE DELINQUENCY STAFF PERSON OR BANK INSTITUTION. i CALL FOR MORE THAN 10 TIME , AND ONLY RECEIVED EXCUSES.
LL
Ladie L.
Dec 14, 2022
May or may not recommend
Thieves! Immoral business practices. I am making monthly loan payments on time ( never missed a payment) and every once in awhile they withdraw additional $500 payment from my bank account. My scheduled payments always show up in my account on the website but those $500 only shows after they take it. They claim that it is normal for scheduled payments to not be shown on the website. How is ...Show More
KS
Khosen S.
May 20, 2022
May or may not recommend
This company is horrible to use. I brought a car back in 2013 for $11,000. Over the years I paid over $14,000 on the car before volunteering to give it back due to lack of employment for health reasons. They sold the car, wrote off $10,000, reported it to the IRS as a cancellation of debt. I had to pay taxes on it because they filed it as an 1199C ...Show More
U
Anonymous
May 5, 2022
May or may not recommend
They are unwilling to want to work for their customers. We had a medical emergency that resulted in lost wages causing us to fall behind on payments. They were unwilling to work with us. Most of their customer service reps are rude and in a hurry to hang up.
KB
Krystal B.
Feb 9, 2022
May or may not recommend
Hell to the NO! It fucked me up! My life my job and my fucking truck! I paid paid paid but still telling me I still owed them!? I paid $3,700 in one month! And still telling me I still have to owe? Last time my payment was in Nov 2021. They cancel my payment without explanation. My truck got repo'ed on the 4th of Feb around 3:55am. That ...Show More
Walter M.
Dec 27, 2021
May or may not recommend
Horrible customer service and predatory rates.... I was blessed to pay off these crooks after they suckes me dry..... run while u can. No joke
PB
Peyton B.
Dec 17, 2021
May or may not recommend
This bank has given me the worst experience of my life. I would NEVER recommend them to anyone. They have the worst customer service, I never get direct answers from them. I paid off my car and they refused to give me a lien release, then when they refunded my gap insurance, which should have been $3000+ I only received $500 and was told that was the full amount and ...Show More
DR
Douglas R.
Jul 20, 2021
May or may not recommend
This is not accurate ! they focus on sub prim and bad credit scores and charge above 19% for most loans that i see and they push you towards more vehicle since it is easier to approve so someone with bad credit that should be only buying a car for 15k or so will get pushed into a 25k to 35k car and get a horrible deal since they have ...Show More
KW
Kevin W.
Jun 22, 2021
May or may not recommend
You will be paying them 10 years qrs on a 6 year loan run when you see there name. They are CRIMINALS GOOGLE Santander Law suit read reviews taking advantage of clients with poor credit, charged me over 18.23 % paid over 6 years saying I owe 15,000 on a 23,000 loan after paying over 6.5 years.
U
Anonymous
Mar 20, 2021
May or may not recommend
If Santander is your only option for a car loan, walk away. I wish I did. My interest rate wasn't as high as some of the other people here but note that they will front load so much interest that your balance will not go down the first 1-2 years of your loan even if you are paying the agreed upon minimum amount. I needed to get a copy of ...Show More
U
Anonymous
Mar 17, 2021
May or may not recommend
I am a retired Veteran got an auto-loan through Santander. They have been reporting differently to all three bureaus. To one bureau is on time every month (which it is correct - is on automatic pay), to another they reported three months and account closed, to another they I have been late since I got the car for over a year. I have called several times. They ...Show More
IF
Isbeth F.
Jan 15, 2021
May or may not recommend
I stupidly financed my very first car off the lot with this bank and I wish I never would have. I paid the car 3x with the amount of interest I was being charged. I was so young I wish I never would have gotten into a contract with this bank, there are hidden fees and other things they aren’t required to tell you at the time of signing. Very ...Show More
VK
Valarie K.
Nov 11, 2020
May or may not recommend
Predatory lending, high interest rate of 24%, make payment to them only to receive multiple calls daily and letters stating payments not received with more fines and fees added to payment and loan amount owed goes up instead of down. Very shady and illegal business practices that will ruin your credit!
U
Anonymous
Jul 31, 2020
May or may not recommend
The will double the price of the car. The payments are way too high and they feed off of people that can't afford these loans. I doubled up on my payments to get ahead and I was still behind and I only fell 2 months behind and despite paying them all they asked for I never got caught up because they took all of my payment and put it on ...Show More
MR
Marcus R.
Jul 14, 2020
May or may not recommend
The rate is way too high, but at the time it was thr only place that would give me a loan due to a bad credit score. At the time it was okay, but after 5 payments I noticed my principal was still the same. I had to triple my payment to payment, in order to pay it off in 2 years.
It's just not worth it.
TF
Tammi F.
Jul 13, 2020
May or may not recommend
I would not Recommend Santander Consumer USA car financing because my car got totaled and I had full coverage insurance and my insurance company sent them a check twice to pay it off and they keep sending it back. I will talk to costumer service several times and they all gave me different answers. Because of this my credit score went down 159 points. Do Not use this company. They ...Show More
EB
Elizabeth B.
May 25, 2020
May or may not recommend
No i will not recommend Santander Consumer due to the fact that I was tricked in and interest rate was tremble high. My payment on the car wasn't moving I tried to refinance the car nobody wanted to deal with Santander Consumer. My previous loan was switched to the finance agency for what reason I made payments on time never late. When I had my accident calling Customer Service in ...Show More
Showing 20 of 111 reviews
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