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New Contributor
PRC
Posts: 68
Registered: ‎04-16-2012

Beware of SANTANDER Auto Loans

I know that a lot of people come here for advice and some are struggling to find car loans and may really need a car BUT a word of CAUTION.  DO NOT GO with Santander.  I will tell you from personal experience..They do not report accurate information to the CRAs, they charge unexplained mystery fees, unexplained late fees, and outrageous interest rates.  They have reported on several accounts (not just mine) 30, 60, 90 day lates even though they were paid on time, and when you call they simply said oh the system said you were late.  They have repossessed cars that were paid up to date  (not mine it was totaled) or that was under a deferment plan (not mine) and they promised it would not hurt them.  I am going to put there name out there on every social networking site I can find.  I am also taking them to small claims court (will keep you posted) and I have the PROOF so I will WIN. 

 

I just want you to know to please be careful if you decide to use them and honestly DON't use them.  Please post a beware on every social site you can and research this company online before you decide.  You will see SEVERAL Class Action Suits, THOUSANDS of complaints filed against them, this past year alone over 90 to the BBB most unresolved.  PLEASE DO NOT USE THEM. If you do please keep records of EVERYTHING from signing of contract to EVERY payment made, date made, method made, RECORD all calls if any, and by all means PROTECT YOURSELF because they are not doing business for YOUR GOOD!

Established Contributor
dodgeball
Posts: 761
Registered: ‎10-16-2007

Re: Beware of SANTANDER Auto Loans

Yes they suck, just went from a 16.9% car loan with them to a 1.79% with NFCU, drastic diffrence in rates. I dont even think that NFCU has a rate over 14.99%. But if your credit is beyond horrid and you need a ride they serve a purpose. Just dont Finance a 30k car with them, 10k and under is what I would recommend.

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Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Beware of SANTANDER Auto Loans


PRC wrote:

I know that a lot of people come here for advice and some are struggling to find car loans and may really need a car BUT a word of CAUTION.  DO NOT GO with Santander.  I will tell you from personal experience..They do not report accurate information to the CRAs, they charge unexplained mystery fees, unexplained late fees, and outrageous interest rates.  They have reported on several accounts (not just mine) 30, 60, 90 day lates even though they were paid on time, and when you call they simply said oh the system said you were late.  They have repossessed cars that were paid up to date  (not mine it was totaled) or that was under a deferment plan (not mine) and they promised it would not hurt them.  I am going to put there name out there on every social networking site I can find.  I am also taking them to small claims court (will keep you posted) and I have the PROOF so I will WIN. 

 

I just want you to know to please be careful if you decide to use them and honestly DON't use them.  Please post a beware on every social site you can and research this company online before you decide.  You will see SEVERAL Class Action Suits, THOUSANDS of complaints filed against them, this past year alone over 90 to the BBB most unresolved.  PLEASE DO NOT USE THEM. If you do please keep records of EVERYTHING from signing of contract to EVERY payment made, date made, method made, RECORD all calls if any, and by all means PROTECT YOURSELF because they are not doing business for YOUR GOOD!



They were reporting inaccurate info about me even though they never had my loan.  My loan was originally with Citi Auto and the 0 balance loan account was sold to Santander AFTER it was paid off. Guess what, Santander reported a CO in 2010 even though I never had a loan with them and the original loan with Citi was paid off in 2009.  I had my mortgage broker with me on the line calling their "Office of the President"  threatening to sue and recording the phone call, as this inaccurate info was in fact causing me and them financial harm especially if it led to me being denied for a mortgage.   I eventually got a letter from them apologizing for any hardship caused by their "mistake"

 

With a Rapid Rescore I was able to get their tradeline completely removed from my report by turning in that letter to the rescore company, because I never even had an account with them.   Very Shady People.

 


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Valued Member
OhMyCredit
Posts: 28
Registered: ‎11-05-2011

Re: Beware of SANTANDER Auto Loans

I thought it was only my family that had problems with Santander. My husband had an original car loan with HSBC that was never late. The minute Santander took over he was 30 days late and $250 past due although his car payment was $330 a month. I called several times and they couldn't explain where any of that information came from except to say that's what the system had when the account was transferred to them.


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Established Contributor
aussiesareforever
Posts: 739
Registered: ‎10-04-2010

Re: Beware of SANTANDER Auto Loans

I would be weary of a company whose name is so eerily similar to the well known individual with horns :smileyhappy:

 

 

BK in 2008, after making very stupid financial decisions.

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Contributor
nc
Posts: 87
Registered: ‎01-16-2009

Re: Beware of SANTANDER Auto Loans

 

Thanks, good to know.

 

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Mega Contributor
Creditaddict
Posts: 18,542
Registered: ‎10-23-2007

Re: Beware of SANTANDER Auto Loans

I can't answer for all but I also don't believe all of the things said in first post.

I took a loan out with "RoadLoans" in 2007, they were the 2nd chance if Capital One declined.  It was a blank check at 9.9% 72 months up to $24k.

I bought a Scion XB, just under $20k out door no money down.

Fast Forward Filed Ch 13, Kept Car... At some point loan sold over to Santander and it was reporting the account charged off, and lates every month, and closed iwth Santander... I started working with one lady and she was able to see the car was not charged off, or closed, or in defaul, just INB.  She was able to work with me over a couple of months to get all my reports showing correct info.

They are basically a last chance credit issuer so you have to stay on top of it! You need to "PUSH PAYMENTS" (as Suze Orman says) from your bank account with billpay to them, don't let them "Pull" the payments and don't pay over phone, etc. they have holds and processing times, etc. that seem to get a lot of folks and really it's "Usually" not the banks fault for trying to pay at 11:59PM the day payment is due.

 

Im not sure but not thinking you can sue a bank in small claims court?

 

Lastly and always baffled by statements about repo and watching that tv show for a bit about repo, I don't understand why people are surprised or say it just happened while they were at work or something... Bank DO NOT want your car! If it's not a buy here pay here loan, you typically have at least 60 if not 90+ days before they will come and get it and they try to contact you when and where would be good and get all your stuff out, etc. etc.

It should be no surprise by the time they come and get it, and then you still have like another 60 or so days to pay and get car back!

 

In the end they were a great option when I needed them and actually just refinanced a 2nd car that I bought with Santander late last year over to Navy.

The only down side was how much I owed after 2 years of payments, but refinanced for 36 months and pay a little extra each month... I was very happy over all.

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New Contributor
PRC
Posts: 68
Registered: ‎04-16-2012

Re: Beware of SANTANDER Auto Loans

Believe me I'm not asking you to believe more or even trust me.  The proof is in the complaints and they have THOUSAND of complaints (everyone can't be lying).  You don't have to believe me but YES in Texas I can take a company to smalls claims court and I have the proof that I need ( I keep copies of everything). Additionally, let me give you a break down of my complaint with them and you can be the judge. 

 

09/04/2010 - Car totaled Balance owed $10667.00 at time of total and per Citi/Santandar NO LATE Payment or FEES listed

09/17/2010 - Santander received a lump sum payment from Progressive insurance in the amount of $10266.83.  This left a balance of $400.17

09/30/2010 - Letter dated from Santander...payment received, however not enough to cover balance.  Your loan has been re-amortized and your new monthly payment is now $50.00 due on 10/22/2010.  Any amount that may have been past due have been brought current.  You can continue to pay the $50.00 until your loan matures in 06/20/2012 or you can pay a larger amount to reduce the amount owed.

10/20/2010 - Paid Santander $150.00... nothing was applied to my balance and all of a sudden I have 203.00 worth of fees that were not listed before bringing my new balance up to $603.17 (No explanation of the fees NOTHING)

10/23/2010 - Received a call from Marla my account was past due, when I asked why she stated they had received the $150.00 but showed I was to pay over 500.00

What no reason for this amount.  I explained the situation to her about the re-amortization, she had no clue why the system showed what it showed and she would send for review and updating.

 

30 more calls during that month alone

 

11/22/2010 - I paid $100.00 again nothing was applied to my past due only FEES and still they called and said i was past due... WHAT

12/10/2010 - Since the calls kept coming i sent a cease and desist and proof of debt information to them for a breakdown of fees, etc... They received it the next day because I had it overnighter with signatures.

Still received roughly 30 calls

12/17/2010 - Letter sent to Texas Consumer Affairs, Gov. Perry's office, and Tx Attorney General..

Received a notice from them with the letter they sent to Santander stating that my account needed to be reviewed and that all information must be received by them by 12/27/2010...

01/03/2010 - I received a letter for the consumer affairs division with the pay off amount given by Santander and the fact that my account was not updated correctly.  The payoff was good until 01/08/2011

01/07/2011 - Paid Santander off check account next day 0.00 balance NOW

 

Credit report shows late 30 days in November and 60 days in December.  Santander refuses to take the lates off because they said I was late because there system says so... WOW

 

They are unwilling to actively review my account so now I have ANOTHER open complaint with the Attorney General and Consumer Affairs to see if they can straighten it out.  All I want from them is to remove the inaccuracies.  My account with Citi Was NEVER late I always paid my bills on time.  Santander is ruthless and I will NEVER seek another loan from them.  If it worked out for you great.  Belief is a choice and I believe what the majority of the individuals write about them on their complaint boards because I experienced it first hand.  FYI... I am not seeking a mortgage, new car loan or anything. It is the principle of this matter.

Frequent Contributor
Sparkz1920
Posts: 271
Registered: ‎08-09-2009

Re: Beware of SANTANDER Auto Loans


Creditaddict wrote:

I can't answer for all but I also don't believe all of the things said in first post.

I took a loan out with "RoadLoans" in 2007, they were the 2nd chance if Capital One declined.  It was a blank check at 9.9% 72 months up to $24k.

I bought a Scion XB, just under $20k out door no money down.

Fast Forward Filed Ch 13, Kept Car... At some point loan sold over to Santander and it was reporting the account charged off, and lates every month, and closed iwth Santander... I started working with one lady and she was able to see the car was not charged off, or closed, or in defaul, just INB.  She was able to work with me over a couple of months to get all my reports showing correct info.

They are basically a last chance credit issuer so you have to stay on top of it! You need to "PUSH PAYMENTS" (as Suze Orman says) from your bank account with billpay to them, don't let them "Pull" the payments and don't pay over phone, etc. they have holds and processing times, etc. that seem to get a lot of folks and really it's "Usually" not the banks fault for trying to pay at 11:59PM the day payment is due.

 

Im not sure but not thinking you can sue a bank in small claims court?

 

Lastly and always baffled by statements about repo and watching that tv show for a bit about repo, I don't understand why people are surprised or say it just happened while they were at work or something... Bank DO NOT want your car! If it's not a buy here pay here loan, you typically have at least 60 if not 90+ days before they will come and get it and they try to contact you when and where would be good and get all your stuff out, etc. etc.

It should be no surprise by the time they come and get it, and then you still have like another 60 or so days to pay and get car back!

 

In the end they were a great option when I needed them and actually just refinanced a 2nd car that I bought with Santander late last year over to Navy.

The only down side was how much I owed after 2 years of payments, but refinanced for 36 months and pay a little extra each month... I was very happy over all.


 

Sorry to bump an old post...looking for a new auto loan and im currently with santander

 

I have to say I agree here...But at the same time, My payments are usually pushed through per my bank...so there is proof that i paid on time and also...my payments are usually like 2 weeks in advance because i pay with my first check of the month, not the last.

 

But ive read the reviews...horrible...You gotta keep on top of these type of companies


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Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012

Re: Beware of SANTANDER Auto Loans

They suck


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