Is Santander Consumer USA Reliable for Auto Loans? Real Experiences?

Is Santander Consumer USA Reliable for Auto Loans? Real Experiences?

Santander Consumer USA can be a reliable option for auto loans, but it really depends on your situation. Based on reviews from customers, the experience varies widely.

High Interest Rates and Payment Issues:
  • Some customers, like one who financed a $28,000 car, reported very high interest rates (almost 20%) and high monthly payments ($798).
  • This person also had trouble getting payment arrangements or refinancing after their car was totaled.
  • Another customer mentioned paying $38,000 on a $20,000 car and still owing $14,000, highlighting issues with how payments are applied.

Customer Service Struggles:
  • Many reviews complain about long hold times, unhelpful representatives, and unresolved issues. For example, one customer waited over an hour on hold multiple times without resolution.
  • Some also reported problems with the website and app, like being unable to upload documents or set up autopay.

Positive Experiences:
  • On the other hand, some customers had great experiences. One appreciated how Santander considered their high credit score and made setting up autopay easy.
  • Another was thankful for help building credit and getting a car loan without a strong credit history.

Mixed Feedback on Application Process:
- Some found the application process easy and helpful, while others had trouble finishing it or experienced delays.

In Summary:
  • Santander Consumer USA has both positive and negative reviews. While some customers had smooth, helpful experiences, others faced high interest rates, payment difficulties, and poor customer service.
  • Whether Santander is reliable for you depends on your financial situation and how much support you might need. It’s worth considering these experiences when deciding if they’re the right choice for your auto loan.
 
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