Santander. Yeah.
So, my interest rate is exhorbiantly high with Santander (13.6%). My credit was in the absolute gutter when I got the loan 2 years ago. My credit is much improved (680), but could still use some work. I've mulled refinancing and throwing down more cash to get a much more favorable monthly payment. But, I'm really not wanting the credit hit of a refi if it can be helped.
I'm selling off a large portion of my collectibles which should generate enough cash in the next few months to pay it off - free and clear. So, I'm feeling like my best option would be to hunker down with Santander for just a few more months.
The problem comes in with paying off my fricking loan. Since I am on recurring payments, they will not accept additional payments from me online. This also rules me out of using pay-by-phone. This leaves me with check, Western Union, and MoneyGram. I'm............really not comfortable with the last two options, there.
Cancelling autopay, to be able to process additional payments more easily is also problematic.
"To cancel Auto Pay, simply provide a 30-day written notice from each person named on the relevant account and we'll process the cancellation. " This means that I cannot easily *start* using that method to pay back for a month.
I've also been told that to assure that each extra payment gets applied to principal..I have to contact Santander customer service after each payment posts, to ask that the payment is applied to principal only. I worry that if the payment hits at a weird time, or I wait too many days to tell them that..they may be even less likely to apply it to principal. Writing a check and puting "Principal only" is not sufficient for them, either.
I'm getting really frustrated with this....
Call them and ask for two things:
1. What is my 30-day payoff amount
2. What is your mailing address preferably physical address (FedEx, UPS, USPS).
Then get from your bank a certified check and certify mail it to them and on that check make sure that it has your account number along with your SSN and send it to them. You then should get a response from them either online or mail saying that they have received the payment and will send you or your state DMV the full and clear title to your vehicle. This should all take about 14 business days from the time they receive your certified funds....NO BUSINESS in the USA will refuse payment aka MONEY on any debt outstanding....
I'm strongly considering refinancing just to make the remaining payoff easier.
There is no earthly reason why I shouldn't be able to make additional payments online, or by phone. My payment is atrociously high with nasty APR
I can refi locally, I think....and put down a big slog of money and get much neater payments until i pay it off later this year.
..............? Speaking as I usually do.
Not sure why that's an issue for you.
I sincerely hope you have better things to do than going around being a jerk on forums.