topic Re: Santander consumer in Auto Loans

Santander consumer

Foreman500 — Fri, 14 Sep 2012 21:39:19 GMT

Any info on this company is appreciated. How easy are they to get auto finance for poor credit? Intrest rate? Thanks for the info

Re: Santander consumer

jtc411 — Fri, 14 Sep 2012 22:13:42 GMT

They deal specifically with poor credit. I've seen people get financed for up to 30%. I had below average credit and got 16 percent

Re: Santander consumer

aplast — Fri, 14 Sep 2012 22:49:06 GMT

I have had an auto loan with santander and they were there when my credit was bad, but everytime you login to make an online payment it costs 10.95. Crazy.... I was at 18 percent on my loan before i refinanced with a credit union. They get a really bad rap in the comunity - and i was embarassed to tell anyone who it was financed through. If it is your last resort I would say go for it and refinance when your credit improves!

Re: Santander consumer

AZHeather — Fri, 14 Sep 2012 22:49:37 GMT

If you type in Santander in the search bar right under the orange letters at the top right of the screen, you can see what people have to say about them.

Re: Santander consumer

Foreman500 — Fri, 14 Sep 2012 22:57:06 GMT

Thanks azheather, just saw it. Im new to the forum scene

Re: Santander consumer

AZHeather — Fri, 14 Sep 2012 22:59:24 GMT

Foreman500 wrote:
Thanks azheather, just saw it. Im new to the forum scene

Welcome! Everyone here is extremely helpful and supportive, so don't be afraid to ask questions.

Good Luck!

Re: Santander consumer

dobirdsmommy — Sun, 16 Sep 2012 15:11:20 GMT

I have them. Been with them since 10/11/2011, still with them. I pay 19% interest. They gave me credit when no one else would I was in the 400's. I had to put 1800 down on my 2010 Versa SL. I will refi in Nov/Dec. Yes the 10.95 is a pain but that can be avoided if you set up direct debit.

Re: Santander consumer

aplast — Sun, 16 Sep 2012 15:32:19 GMT

you know, looking back on things I should have joined a credit union to start out with. Even wells fargo denied me for auto financing... and i have a 679 transunion. after having santander - I paid on a loan for a year and paid down the principal by only 1000 bucks. after making 12 - 400 dollar payments. I could have bypassed all of this mess had a joined a CU right away. just my .02

Re: Santander consumer

dobirdsmommy — Sun, 16 Sep 2012 16:36:51 GMT

WF denied me last year too. I guess I have been lucky enough that my principal has gone down more the 1k in the 11 months I have had it. It is now at 1400 paid down in 11 months. I have been paying 350.50.

Re: Santander consumer

westo12 — Mon, 17 Sep 2012 21:37:30 GMT

Santander is ok if you are credit challenged. I received a 5 yr $20k 12.9% with an auto enhanced score of 605 I think. Wish I'd gone the CU route however. Hoping to refi around Dec of this year. They are ok, if you pay on time and you can skirt the payment fee with auto pay.

Re: Santander consumer

webhopper — Mon, 17 Sep 2012 21:57:23 GMT

My experience with them was horrible. Search for financing elsewhere if possible. Only use if no one else will approve you.

Re: Santander consumer

Shogun — Tue, 18 Sep 2012 05:44:45 GMT

Re: Santander consumer

scmami — Wed, 19 Sep 2012 02:08:54 GMT

I have them now. My credit was mid 500s when I applied. My rate is 16 something.I pay online via BofA bill pay (payment applies in 24 hours). I was late one time and if I had not been so ignorant,I could have deferred my payment. They have been fine,just pay on time.

Re: Santander consumer

MyCreditSucksTheMost — Wed, 19 Sep 2012 05:55:17 GMT

Incompetent Morons... But they will do just fine for now, I've never has a car loan before and they gave me the best rate I could find for a private party purchase(11.49%).

I bought a relatively inexspensive car in comparison to my income, decidely to improve my credit.

I plan to refi in 6-9 months. Also, Took the bastards 4 weeks almost to finalize my loan, I'm sure the seller was tired of me.....

Re: Santander consumer

aplast — Wed, 19 Sep 2012 06:11:36 GMT

Haha yes.. since I refinanced I was worried about them releasing the title. Like coming back and changing the pay off or something rediculous.. or try and make my last payment late or something. but I actually got an email from santander saying the installment conctract had been fulfilled and they are going to release the title. That would have been a horror story! so when you do decide to refinance - you dont have to worry about them pulling anything :)

Re: Santander consumer

MyCreditSucksTheMost — Wed, 19 Sep 2012 06:18:17 GMT

How many months before you applied for the refi? and what were your scores when you were approved for refi if you dont mind me asking?

Yea, from what I can see if I just pay my payments on time I should have no issues, most complaints i've seen on the web seem to stem from those who were late.

Re: Santander consumer

aplast — Wed, 19 Sep 2012 06:24:43 GMT

I waited almost 9 months. Got the loan at a 611 Fico score and when I refinanced it I was at 656. I also got 3.39% as my rate :) thanks to primeway fcu. Yeah Santander never harrassed me about anything.. I just read so many negative things about them it worried me that they would try to get one over on me... well one more besides that interest rate LOL

Re: Santander consumer

MyCreditSucksTheMost — Wed, 19 Sep 2012 06:42:06 GMT

That's awesome. That's definately my goal for at least this time next year.

Re: Santander consumer

cbrewer80 — Wed, 19 Sep 2012 12:51:38 GMT

A buddy of mine just obtained financing through them on a his new whip. Interest rate was kind of high, but that's to be expected when you're rebuilding.

Re: Santander consumer

fuzzybean — Wed, 19 Sep 2012 23:01:18 GMT

We had them when we needed a car loan 2 years after our bankruptcy. While the rate was far too high, we had absolutely no problem with them at all. I never paid online so I cannot comment on that. I always paid through my bank two weeks prior to the due date and it was always posted on time. When we refinanced with another lender, they were very helpful and everything went smoothly. It shows paid as agreed on the credit report.

From what I've read, as long as you stay current you'll be fine. However, if you miss a payment things can go south and fast.