Santander Consumer USA

I have read hundreds of the reviews left here and was afraid to take a loan from them as well but did and haven't had any problems thus far. I called customer service and they told me that I was 1 out of 100 individuals who seem to understand how the interest is applied so I figured I would provide an explanation. So for simple interest calculations you have to remember that it is calculated daily based off your APR and remaining principal. So for example if you were approved for a $20,000 loan at 25% APR, 60 months term with monthly payments of $587.03 then your daily interest would initially be the following: Daily interest = (APR/ 365 calendar days) * Remaining Principal = (25%/ 365 ) * $$20,000 = (.0685% ) *$20,000 = .000685 * $20,000 = $13.7 each day (which is freaking high but bad credit got us here) which would mean out of that $587.03 monthly payment, a whopping $417.85 would go towards interest ($13.7 * 30.5 average days in a month).

So, due to all of poor reviews, I was petrified when Fifth Third sold my loan to this company. I was on edge the entire six years of my loan and I just knew the company would screw me, so I said I would write a review once I paid off the vehicle. In actuality, my experience was not bad! I did not get screwed over! Of course, my note was paid early each month and the car loan was paid off in full. There was never a late payment. My payments were reasonable - but I didn't have a crazy interest rate to begin with. I did not have to call customer service much, so I cannot speak to that. The only reason I had to call was to see where my title was. A few weeks later I was told that my local DMV had the E-Title on file. When I went to pick it up, it was there, as they said.

I have poor credit, but I found a late model car that I fell in love with. I had a down payment, but my own bank wouldn't give me a loan for it. Santander was the only one who would. I had never heard of them, the dealer dealt with the whole thing. The interest was high, but it was my only option, so I accepted it and drove away that day. When I got home, I researched the bank and was terrified of the reviews I read here. I thought I had made a big mistake.

I'm so used to writing reviews out of frustration, that it's refreshing to write a good one for once. The JDC dealership I purchased a little Fiat to use as a work car from is a bit of a different story, but the service received from Chrysler Capital financing is something I was very happy with. My experience was quite different than 99% of the reviewers on here. I never had any issues throughout the life of my loan, which was only about a year and a half, but I initially had to call them every month since I would pay additional principal that I had to have allocated correctly. They eventually changed that to where additional funds received automatically goes towards the principal, so I was pleased to see that they were trying to better the customer experience.

After reading a few of the (mostly) negative reviews here I just had to chime in (as a satisfied SCUSA customer for almost 4 years now). It is apparent they all have a common theme... They didn't make their payments as agreed so they default and lose. It's life, in the USA if you sign a legal agreement, you are bound by it. Responsibility is key but most of these peeps just want to point the finger and blame others for their own problems. Speaking for myself, I have financed my car without any issues since purchasing in March of 2015 and Santander has been awesome, both online and on the phone whenever I seldomly called. Of course, I have responsibly paid on time every month, except one last year by a few days because of an issue with my pay.

They have terrible loan service. I had a loan with ALPHERA Loans and Santander bought the loan out from them. I had automatic withdrawals being taken out for 48 months with Alphera and when Santander took over the loan they only said that I had 13 months of loan left so they took out the payments for 47 months and did not notify me by mail or email that one more automatic payment needed to be made..? They finally call a collection agency and I make the automatic payment but it was now 36 days late. My credit was destroyed. It went from 810 rating to 705. I never made a late payment in 33 years. I spoke with executive branch and they said too bad nothing we can do. Don't use this company for loans. They will destroy your credit for seven years because of their incompetence. Don't use this company. Use a real bank that you can understand what they are saying on the phone. Don't care about people.

If I could give this company zero Stars I would. I bought a 2014 Kia Sportage and the sticker price was 16,000 when I got the car. Fast forward to 2019 I've been paying on this car for about 4 year and I still owe $13,800!!!! How have I made almost $20,000 in payments on this car and still owe that much!!? I just let them take my car in a voluntary repossession. If you get approved with this company run!!! Also their staff is extremely rude. They treat you like you stole the car off their parking lot!

Chrysler Capital is a complete joke of a company. First their interest is extremely high. My husband ended up getting Heart Failure and was told he couldn’t work anymore. We applied for Social Security Benefits and ended up hiring an attorney to help us. We let them know exactly what was going on. We paid everything we could and fell behind a little. We then received a letter stating that we could call and work it out with them and they were “here to help.” We called and not only were they completely unhelpful they threatened my husband. My husband unfortunately passed away unexpectedly and I am still getting threatening letters although I am less than one month behind. If I could rate them with zero stars I would. Had we known how awful they were we would’ve gone somewhere else. Save yourself Stress and Headaches and find a different financial company. Run don’t walk away from them.

THE ABSOLUTE WORST POSSIBLE COMPANY. Got a loan from them when I financed my car. Worst decision I've ever made. My payments when I first purchased car and paid earlier than due date, were sometimes completely going to interest. I called and called about this. Did a report on this. Nothing. My car was recently totaled. They have been all but helpful and as slow as possible getting in all necessary documents to my GAP insurance company. Now that my GAP insurance sent them a check and they received it (on Aug. 6th) they still will not post it to my account, yet my interest is accruing. They wouldn't pick up the vehicle either despite the fact that I am continuing to make payments on it.

I have found their customer service, while accessible, does not offer customer friendly solutions. I had a mortgage with Santander, and they made the pay off very difficult, and did not send any acknowledgement that the loan had been paid off. It took multiple contacts to get any help, and in the end the bank required that someone be home during the day to sign for such a letter (though their statements came in regular mail). More unnecessary inconvenience.