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Santander Bank

1.7 out of 5 stars
26 Reviews

From Account Holders in the last year


Application Process

2.5 out of 5 stars

Customer Service

1.5 out of 5 stars

1.5 5

Most Helpful Positive Review

Jan 12, 2016
kmeverhart Account Holder

It has only been one on time payment and my score went up 3 points, not a lot but its a start. Then it jumped up 30 points just for having my principle balance drop by only $19 from $5800. I have a great 2007 chevy impala LS with 91,000 miles drives great. 4 year loan at 27% but $215 a month which is great. I have credit scores in the 400's and cannot thank them enough for giving me a chance to improve my credit worthiness and scores. $1600 downpayment which is very reasonable even if i had great credit. Too soon to tell but so far so good. Very Happy!

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Most Helpful Negative Review

Apr 02, 2016
Worst auto lender ever
Setnev Account Holder

If you try to finance a car and they tell you Santander is funding the loan, walk away. Having no car is better than having a car financed through Santander and that is no exaggeration.

We found our second car used at a local big-box dealer. It was a 2005 Hyundai Tucson with only 60,000 miles on it, fully loaded, one owner, great price. Since it was nearly 8 years old but low miles, we bought a 2 year extended warranty on it with a total out the door for around $14,000 but financed only $12,500. In comes Santander with very loan sharkesque 27.99% interest rate despite having excellent payment history on my first car financed through Ally Financial at over half the rate of Santander (Ally wouldn't finance due to the age of the car...Mistake #1). We were desperate for a second car and it was only a 60 month loan, so we decided to go ahead with it on the premise that we'd refinance when the balance was a few grand less. That was mistake #2. I cannot blame Santander for my mistakes but here is the reason for their low rating and negative review.

Now for the red flags...

Red flag #1: Nearly 100% of your payment goes to interest your first half of the loan, again never late, always on time. Our balance went from $12,500 to $12,100 in the first 6 months. Two years into the loan, I've barely paid off the warranty I purchased

Red flag #2: There is no refinance process. If you want to renegotiate your loan, they find every reason in the book to not lower your interest rate. I've heard everything from "I owe too much on my vehicle" to "Your vehicle doesn't meet the criteria for refinance due to the age being over 7 year old." The last one is a hoot because they funded the loan on an 8 year old car in the first place.

Red flag #3: Their online payment system is useless. Around Christmas last year, their payment system was not processing payments correctly which resulted in reversed payments and even payments not posted, despite recieving confirmation numbers and the money withdrawn from our bank account. Needless to say Santander's credit department recorded late pays for 2 months on mine and countless other debtors. 

Red flag #4: Customer service is non-existent. You ask to speak to a supervisor, they just throw you back in the call queue. You ask for someone in their credit dispute department and you get told they don't have a dispute department or it is constantly closed. 

Needless to say, I am sending my lawyer after them for fraudulent reporting practices and looking for a dealer that will get me out of this loan. Title loan places have better interest rates than Santander does, and that is sad. 

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These reviews were written by current and former account holders in the last year.

Oct 22, 2016
HSBC loan transferred to Santander
DLTorrens Account Holder

I had a car loan with HSBC for (5) five years on my 2005 Mazda Tribute. For the entire (5) five years, I was always on time. And in fact, this was my 2nd loan with HSBC. Then the last four payments were interrupted by a transfer of my loan with HSBC to Santander, because HSBC went out of business. Santander claims during those last (4) four months of the HSBC loan….I paid late…. and the transfer of companies had no influence on the timely posting of my payments.  Really ???  Never do business, EVER!

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Oct 22, 2016
Absolutely horrible and no assistance
Anonymous Account Holder

Do not bank with this company...They are terrible. 

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Oct 16, 2016
Anonymous Account Holder

Stay away from this finance company.. You'd be better of going to a buy here pay here dealer until you can get on your feet and build credit some type of way.. Santander will only make your situation worst. Stay far away from this bank.

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Sep 18, 2016
absolutely horrible
sunkissedblonde Account Holder

This is the worst bank to get a loan from. I have been having trouble with my account ever sense I have had it. I financed my car through them and am currently looking into refinancing. They charge you more money than what you owe and they have been screwing up my payment amount every month saying I am passed due when clearly I am not. I am going to report them. They have also charged my bank card multiple times without authorization so I have also had to report fraud on them. Stay away from this bank. All I can say is horrible horrible horrible.

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Sep 02, 2016
Stay away, stay far away.
RockyWoof Account Holder

In my opinion, their employees are not very well trained, and I question their integrity.  Their fees are out of line when compared to other local banks.  Customer service is poor.  I'm moving all of my accounts elsewhere.  

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Sep 01, 2016
cuddygirl916 Account Holder

I have been making $625 payments on my car loan for almost 4 years now and my loan balance has not moved!!!  Granted I deffered a couple of payments over the years, however, I still should not be at close to the original amount of the loan from four years ago!   HORRIBLE!  HIGHWAY ROBBERY!

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1 Reply
Sep 27, 2016

I was like you when I first started my car loan, I just paid half the payment every 2 weeks, that way your payments wont mostly be all interest and you will see your principle go down faster, also try puting extra $$ to your payments, even if its only 10$, it will add up. hope this helps!

Aug 11, 2016
Anonymous Account Holder

They make mistakes and then charge you for them.  I have auto pay set up, for some reason (there is money in the account) the payment did not go through.  They called me to get me to pay and charged me a processing fee to pay a payment that should have been automatic.  They admitted they made a mistake but I was still charged!!! I will NEVER use Santander for a future loan and I will make sure all my friends and family hear this story.  Unbelievable!! 

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Aug 01, 2016
Anonymous Account Holder

The only thing that i don't like is that i had my care for almost two years and everytime i check on my payment and how much i ouw it doesn't even seen like the price is going down i think its dumb that i have to pay off the interest off first

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Jul 05, 2016
ABRAY85 Account Holder

I have an auto account with Santander that I have not been able to log into for over a year. I have tried every browser (Chrome, Firefox, IE,Avant) I have disabled pop up blockers I even paused my antivirus. I called and spoke with a representative for about the 5th time and I asked her if she could view the website from her side and she told me that they do not have internet access.

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Jun 29, 2016
Awful Bank
Anonymous Account Holder

I purchased my vehicle through Santander Consumer USA back in 2014 and I have had nothing but problems since then with this Bank.  For one they harrass you if you go 1 day past the payment due date(ex due Jan 1, they call Jan 2) this charge a fee of 9.95 cents to make your payment over the phone or online and they DO NOT REFINANCE! They are absolutely horrible! I recently closed out my auto loan after 2 years because I just could not take it! STAY AWAY FROM THIS BANK.

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