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Santander Consumer USA auto loans review
Finance your car through this national bank — just not directly.
Santander Consumer Affairs, owned by Santander Bank, offers new and used auto financing through RoadLoans. But if you’re looking for a lender with transparent terms, you may want to borrow elsewhere.
What types of auto loans does Santander offer?
Santander doesn’t offer car loans directly, but its subsidiary RoadLoans has four basic options:
- New car loans
- Used car loans
- Car loan refinancing
- Cashback refinancing
- All credit types accepted
- Works with thousands of dealerships
- Bad borrower reviews
- Limited information online
- Not a direct lender
Compare other car loan options
What do customers have to say about Santander?
Santander may receive an A rating from the Better Business Bureau (BBB), but actual customer reviews are wholly negative. It’s had nearly 2,000 complaints filed against it over the past three years, and it receives 1 out of 5 stars from over 100 customers. Multiple borrowers said that Santander refused to work with them during difficult financial times, charging them fees and offering no extensions on payment plans.
How do I apply?
Santander doesn’t offer an online application on its website. However, you can apply with its subsidiary by following the steps on our review of RoadLoans.
How do repayments work?
Santander offers a wide variety of repayment methods, including:
- By automatic ACH transfer
- Over the phone
- By mail
- Through its online portal
- Through Western Union, MoneyGram, CheckFreePay or PayNearMe
Santander doesn’t directly state if you can defer a payment, but you can change your due date. However, this can only be done once — and it’s permanent.
And while Santander doesn’t state what kind of fees it charges, you may have to pay a late fee if you miss a payment. The specific amount is determined by your contract.
Santander Consumer USA may not offer loans directly, but it backs both RoadLoans and Chrysler Capital. Borrowers with bad or no credit may be able to get access to funding. But if you’re looking for a lender that’s more up front about its terms, compare your car loan options to see what else you could qualify for.
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