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Santander Consumer USA

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LAST UPDATED: May 20th, 2022

Santander Consumer USA was founded in 1997 and has a service portfolio of more than $40 billion and over two million customers across the entire credit spectrum. The company is headquartered in Dallas and is a full-service, technology-driven consumer finance company that focuses on vehicle financing and unsecured consumer lending products.

Continue reading for a full review of this company, or jump down to Santander Consumer USA reviews from real customers.

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The Good

  • Wide Range of Credit Profiles Accepted
  • Instant Online Application Decision
  • Bad Credit Loans Available
  • Refinancing and Individual Purchase Options
  • Used Vehicle Financing
  • Available Nationwide

Wide Range of Credit Profiles Accepted

Santander car loans are available to a wide range of credit profiles, meaning that even if you have low-credit Santander could have a car financing solution for you.

Instant Online Application Decision

The Santander Consumer USA website states that once you submit an online application, you will receive a loan decision within 30 seconds. Additionally, the company doesn't charge an application fee and it will present you with multiple offers from which you can choose. This definitely weighs in the company's favor, as other auto loan finance companies often drag out the process for days while continually requesting additional information before giving you a final decision.

Bad Credit Loans Available

Santander Consumer USA offers loan options for both new and used vehicles to consumers with bad credit. However, the company does have certain restrictions in place for these loans. The customer must choose a vehicle that is a model year 2006 or newer with 90,000 to 120,000 miles. Additionally, the car cannot be a commercial, conversion, or customized vehicle.

Refinancing and Individual Purchase Options

Santander Consumer USA does refinancing in some cases. In order to refinance, the company requires that the vehicle you've chosen be seven years old or newer with fewer than 105,000 miles. Santander Consumer USA also allows vehicles to be purchased from an individual. However, the chosen vehicle must be 12 years old or newer with fewer than 100,000 miles to take advantage of this service.

Used Vehicle Financing

Santander offers traditional financing for new vehicles, but also offers financing for pre-owned vehicles. Options are available to buy a pre-owned vehicle at a dealership, but you can also buy, trade in, and finance online through Vroom. 

Through Vroom you can browse vehicles online, complete your transaction and have the car shipped to your home or a nearby location.

Available Nationwide

Santander Consumer USA has physical branch locations in Texas, Colorado, and Arizona, but the auto loan company has a nationwide reach through its SC and Chrysler Capital sales teams that are spread across the country. Thus, no matter where you live, a Santander auto loan could be a good option for your car financing needs.


The Bad

  • Minimum and Maximum Loan Requirements
  • Not all Vehicles can be Financed
  • No APRs Disclosed

Minimum and Maximum Loan Requirements

In most states, Santander Consumer USA has a minimum loan requirement of $5,000 and a maximum loan amount restriction of $75,000. Loan minimums do vary in Arizona, California, and Massachusetts.

Not All Vehicles Can Be Financed

Unfortunately, Santander doesn't finance all types of vehicles. The company does not provide financing for commercial vehicles, motorcycles, conversions, or recreational vehicles.

No APRs Disclosed

Santander Consumer USA has not disclosed interest rates on its company website. While this information is typically determined on a case-by-case basis, it would be helpful if the company at least provided a range so that potential customers know what to expect.


The Bottom Line

Santander Consumer USA offers quick approval, bad credit loans, and refinancing and individual purchase options, providing car loan solutions for a wide range of borrowers.

With a quick online application process, you can quickly see if you are approved and then choose the best financing offer to best fit your needs.

One large benefit of borrowing with Santander is that you can finance both new and used cars. If you are interested in purchasing a pre-owned vehicle, Santander simplifies this process further through Vroom, an e-commerce platform for buying and selling cars. Through Vroom you can easily browse car options online, buy or trade in, and then your purchased car will be delivered straight to your home or a nearby location.

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34 Reviews

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Brian Lakewood, WA

You know, everyone knew the interest rate was high when they signed the loan contract with this company. This is not a revelation. My wife and I have had 3 auto loans with Santander. Never one time have they called me, or reported derogatory credit marks. Why? Because, we pay the contract as AGREED. If you make poor decisions, you have to pay higher interest rates. I’m sure people weren’t bad mouthing Santander when they were in the office trying to get financing. If you don’t like how your interaction is, pay off your loan, go somewhere else to get financing. They will not go out of business without you. I know my post will be bad mouthed. I don’t care. It’s the truth. Good day.

3 years ago

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Rob H Fort Mill, SC

I’ve had a couple of loans with them and never had a problem. They are a pleasure to deal with. The last car I bought, they actually sent me a letter 2 weeks later stating they got me a better interest rate and they lowered the payments the dealer gave me. Seems the people here who have problems with them are the cause of their own problems. I’ve always had a very good experience with them.

3 years ago

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They have excellent customer service. They help you if situations come up.

4 years ago

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Jami Schmieding Mesa, AZ

I have my car loan through this company, low interest rate and I have never had any issues.

3 years ago

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Amber Gilbert, AZ

Just paid a car off with them early. Negotiated with me on pay off and I saved $5000.

4 years ago