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Santander Consumer USA (Auto Loan) Good experience

Regular Contributor

Santander Consumer USA (Auto Loan) Good experience

Just thought I'd post this for anyone who had their auto loan transferred to them by HSBC, CitiFinancial, and I'm sure there are others.


I think this company can be hardcore and unforgiving (especially now) but I suppose I'm writing this just so people who deal with them will know that there is hope and there are some satisfied customers.


I have always been pleased with their customer service and although my credit situation has improved exponentially since I took out this loan, (so that I no longer need a subprime lender) (got approved for .9% financing by Honda in April) I am grateful that they gave me the chance to prove that I'm credit worthy. It is great to have a closed auto loan under my belt with no missed payments at all and they made the process of paying the loan off incredibly easy.


A few months ago I decided to pay off my car loan with them so I can just focus on Honda. I had a balance of roughly 4000.00 left with about a year to go. Like most, I was transferred to Santander Consumer USA by another loan company. After researching them and reading about all these nightmares, I was bracing for the worst when I sent in that pay off check.

To cover myself, I used Santander's chat applet to talk to a customer service rep and find out the exact procedure I should follow. I saved our conversation but I also printed out the pages from Santander's website and highlighted the "overnight address" as well as the information the site said the check must include so that they would know that I know what I'm doing.


When I sent that overnight payment, I worried about how long it would take to post or if they'd just claim they never received it or they'd alter the check (like one person posted here) so that the balance was not actually paid in full.


However, to my very pleasant surprise, I sent the check overnight and they posted it to my account the very same day they received it. Not only that but within 48 hours I received a confirmation email regarding the pay-off and information stating when I could expect my Title.

At any rate, I just wanted to let anyone concerned know that I had a pleasant experience with them. Granted I was on auto-pay for the duration of the loan so they never had the chance to harrass me but they made the process easy nonetheless. On the few occasions that I did speak with them, it was by instant message/chat applet from their website. I think that's great because you have an exact record of what was said if there is ever any confusion.


Still, in an abundance of caution, I have contacted my bank and asked them to put a block on my account for any additional ACH drafts that might "accidentally" be processed since it is so soon after the pay-off. I'll never know if they tried to draft my account again as some have complained.

Message 1 of 16
Super Contributor

Re: Santander Consumer USA (Auto Loan) Good experience


I have an auto loan with them which was transferred to them from another lender, and have not had any issues with them as of yet.

I autopay the loan and I have only contacted them once for an address change.


Thanks for posting your experiences with them, I think that your approach to carefully documenting the loan payoff is very helpful,

not just for Sandander, but in general when paying off an installment loan it makes sense to be very careful.


March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 16
New Contributor

Re: Santander Consumer USA (Auto Loan) Good experience

I  too had a great experience with them. I ended up trading my car and the balance was paid with no problems. The payments where on automatic bank withdrawals and never had any problems. Greatful that they helped me when everyone else denied me.  

Starting Score: EQ 613
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Message 3 of 16
Established Contributor

Re: Santander Consumer USA (Auto Loan) Good experience

Just goes to show if you do your homework it pays off.  Great post, and congrats on the great rate from Honda. 

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Message 4 of 16
New Contributor

Re: Santander Consumer USA (Auto Loan) Good experience

I also have a loan through Santander Consumer USA.   I read some nightmare stories about them when I got my loan and was really nervous about having to deal with them, that was over a year half ago and I have had no issues.  They send email payment reminders which I don't need, but nice that they do that also they  email when they have received my  payment.  I can pay online, see my account online.  So far so good no complaints, professional experence.

Message 5 of 16

Re: Santander Consumer USA (Auto Loan) Good experience

Me too, I had a loan with them too.  I never had any problems.  When I refi with NFCU they even sent me a email stating that, they where mailing my title to NFCU and it should be mailed out within 5 business days.  Congrats on your new purchase!!

Message 6 of 16
New Contributor

Re: Santander Consumer USA (Auto Loan) Good experience

25% APR..


Yes they said yes, but Its killing me….


No one wants to refinance me.

TransUnion: 606 Equifax: 626 Experian: 635

Message 7 of 16
New Contributor

Re: Santander Consumer USA (Auto Loan) Good experience

I currently have Santander nad I have never had any problems with them. I have never been late either. I am now considering paying the loan off in full to lower my DTI as i am getting ready to apply for a new mortgage.

Starting Score:
EXP 567 (6/8/11) EQ 610 (6/8/11) TU 646(6/8/11)

Current Score:
EXP 628 (10/19/11) EQ 652 (11/13/11) TU 693 (10/19/11)

Goal Score: ALL Above 700
Message 8 of 16
New Visitor

Re: Santander Consumer USA (Auto Loan) Good experience

I was seriously starting to have a panic attack before I found this website. I just bought a car, after having credit issues due to a bad relationship. I am on my way to rebuilding my credit and I was a bit afraid with all the horror stories I found online. I was literray going to go to the dealer tomorrow morning and have a serious talk with them. I just want to thank all you that posted your positive reviews, even if it was 5 it made me feel so much better. It is nervewracking to know that anything can damage your credit, and being told you have a late payment is definantely a nightmare. I hope that I can pay my car with no problems. 

Message 9 of 16
New Member

Re: Santander Consumer USA (Auto Loan) Good experience

^ Congratulations on your new car! I also have had past credit issues in the past and the only group who would approve me for an Auto Loan is Santander Consumer, so I went with it, for my first new car purchase Smiley Happy Good Luck, Just pay on time and you'll be fine !

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Message 10 of 16