Epic Contributor
Posts: 22,067
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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