Introducing Santander Auto Finance
A near-prime program that’s Ready for your Business
In today’s economy there are more near-prime consumers than ever before. At the same time, there are fewer lenders willing to provide loans to them –auto financing included. Data suggests that the number of near-prime consumers will continue to grow, and that lenders will continue to be increasingly selective. How will you make sure your near-prime customers get the financing they need? How will you sell cars in the important near-prime space?
Who will finance your near-prime customers?
Santander Auto offers a competitive near-prime lending program for customers with a 575-680 FICO and no recent derogatory credit. With flats, attractive APRs, low fees, few stips, and backend product options, the program provides you with many ways to put together a deal. It is stand-alone financing with no pass through to other lending programs.
Program Highlights
| FICO range |
575 - 680 |
| Buy rate |
9-21% |
| Discount fee |
0-4% |
| Flat fee – payable to dealer |
Range from $150 - $300 |
| Max term |
72 months |
| Max advance |
120% |
| Max LTV |
130% |
| Max PTI |
18% |
| Max DTI |
60% |
| Vehicles |
New or Certified Pre-owned,
7 years max, up to 90,000 miles |
| Minimum down |
$500 – cash, trade or mix |
| Max loan |
$50,000 |
| Minimum loan |
$7,500 |
| Minimum monthly income |
$2,200 |
| Max backend |
GAP is lesser of $700 max or state max; warranty varies by tier with max ranges from $2,000 - $3,000 |
Fast Funding, Superior Service
Santander Auto Finance’s primary goal is simple: create a near-prime lending experience that delivers exceptional service to dealers. You will work exclusively with experienced buyers and funding associates who understand the near-prime segment, and are empowered to make key decisions on every deal – with no look-to-book ratio. Fast funding is an important component of the Santander Auto program, and we can fund clean deals in 24-48 hours. We are committed to building relationships with our dealers. When you call or e-mail one of our team members, you can expect prompt, courteous service.
HOW TO SPOT A SANTANDER AUTO CUSTOMER:
- 575-680 FICO
- NO RECENT MAJOR DEROGATORY
CREDIT INFORMATION
- NO RECENT OR MULITPLE REPOS
- MINIMUM $500 CASH OR TRADE
- IN THE MARKET FOR A NEW OR
CERTIFIED PRE-OWNED VEHICLE
- MINIMUM OF FIVE TRADE LINES
SEND US YOUR
APPLICATIONS TODAY.
We look forward to earning your business and helping you sell more cars. We have money to lend and want to partner with high-quality dealers who value their customers as much as we do.
866.552.2528
LISTED ON DEALERTRACK AND ROUTEONE AS “SANTANDER AUTO.”
