Santander Auto Finance
Santander Auto Finance
A near-prime program that’s Ready for your BusinessSM » Competitive rates » Low fees » Participation/flats » Co-signer does not have to cohabitate
» Equifax bureaus » Higher advances » Approvals good for 30 days from initial submission date » Fewer stips
» Room for backend on all deals » 72 mo. term available (without a term fee) » Self-employed friendly » Fast funding TERM MILEAGE GRID
FICO range
550 - 680
max Term
max miles
60,000
Buy rate as low as
9%
61-72
Discount fee
1-5%
49-60
70,000
Flat fee – payable to dealer
Range from $100 - $250
37-48
80,000
Participation2
Up to 2 pts, 75/25 split
24-36
100,000
Max term
72 months
Max advance3
135%
Max LTV
150%
Max PTI
1
FICO APPROVAL RANGE FICO Range
18%
Approval %
book-toApprove %
550-580
17.80%
22.60%
Max DTI
65%
581-620
29.20%
19.00%
Vehicles
New or Quality Pre-owned, 7 years max, up to 100,000 miles
621-660
45.00%
13.20%
661-700
58.80%
10.50%
701+
70.90%
11.40%
Minimum down
$500 – cash, trade or mix
Max loan
$50,000
Minimum loan
$7,500
Minimum monthly income
$1,500
Max backend4
GAP is lesser of $700 max or state max; warranty varies by tier with max ranges from $2,000 - $3,000
This chart provides a very high level gauge of what to expect when submitting Santander Auto Finance applications. The approval percentage illustrates the percentage of applications you can expect to be approved in that FICO range. The book-to-approve percentages shows how many of those approvals have historically funded, post approval.
Dealer can buy down rate for $300/point up to 2 points. Max of $1,250 or state max. Customer must make first 3 payments, in full, to avoid participation chargeback. 3 Restricted advances for Isuzu, Mercury, Oldsmobile, Plymouth, Pontiac, Saturn and Saab. 4 Max backend is subject to state max, where applicable; warranty maxes may vary based on tier. 1 2
© 2011 Santander Consumer USA Inc. All rights reserved. Rev. 11/2011 | 866.552.2528 | SantanderAuto.com
Santander Auto Finance Resources How to spot an SAF customer »»550 and above »»No recent major derogatory credit information »»Minimum $500 cash or trade »»Minimum of four open trade lines
santander Credit Number > 866.552.2528 Funding Number > 800.877.4696 S-Guard Number > 800.527.1984 x8703 Santander Payoffs Number > 888.222.4227 Web site > www.SantanderConsumerUSA.com News & Tips > www.GreenLightToDrive.com
For best pricing
Extranet > Dealer.SantanderConsumerUSA.com
»»60,000 miles or less »»Avoid restricted units
Contract Packages FedEx
»»Add a favorable co-signer »»Use favorable deal structures PTI
less than 5% LTV lower than 120% >20% down payment
Santander Consumer USA eDocs Program, Suite 2039 4054 Willow Lake Boulevard Memphis, TN 38153 Contract Packages UPS or USPS
To avoid additional fees please be aware of the following »»Expired approval fees will apply if approval is expired »»Resubmittal fee of $495 will apply if contracts have to be resubmitted »»No past due bills (POR/phone bills) or $249.99 will be charged
Santander Consumer USA eDocs Program, Suite 2039 3268 Progress Way Wilmington, OH 45177 Lienholder (for Title and Back-end Products)
Santander Consumer USA P.O. Box 25120 Lehigh Valley, PA 18002-5120
»»Self-employed applicants using bank statements as POI (in lieu of Tax Return) will be charged a $200 fee
SEND US all of your prime declines 550 and above 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.
LISTED ON DEALERTRACK AND ROUTEONE AS “SANTANDER AUTO.” SANTANDER AUTO FINANCE Ready for your Business SM
Like us
866.552.2528 | SantanderAuto.com
Follow us
facebook.com/SantanderAutoDealers twitter.com/SantanderDealer
A near-prime program that’s Ready for your BusinessSM » Competitive rates » Low fees » Participation/flats » Co-signer does not have to cohabitate
» Equifax bureaus » Higher advances » Approvals good for 30 days from initial submission date » Fewer stips
» Room for backend on all deals » 72 mo. term available (without a term fee) » Self-employed friendly » Fast funding TERM MILEAGE GRID
FICO range
550 - 680
max Term
max miles
60,000
Buy rate as low as
9%
61-72
Discount fee
1-5%
49-60
70,000
Flat fee – payable to dealer
Range from $100 - $250
37-48
80,000
Participation2
Up to 2 pts, 75/25 split
24-36
100,000
Max term
72 months
Max advance3
135%
Max LTV
150%
Max PTI
1
FICO APPROVAL RANGE FICO Range
18%
Approval %
book-toApprove %
550-580
17.80%
22.60%
Max DTI
65%
581-620
29.20%
19.00%
Vehicles
New or Quality Pre-owned, 7 years max, up to 100,000 miles
621-660
45.00%
13.20%
661-700
58.80%
10.50%
701+
70.90%
11.40%
Minimum down
$500 – cash, trade or mix
Max loan
$50,000
Minimum loan
$7,500
Minimum monthly income
$1,500
Max backend4
GAP is lesser of $700 max or state max; warranty varies by tier with max ranges from $2,000 - $3,000
This chart provides a very high level gauge of what to expect when submitting Santander Auto Finance applications. The approval percentage illustrates the percentage of applications you can expect to be approved in that FICO range. The book-to-approve percentages shows how many of those approvals have historically funded, post approval.
Dealer can buy down rate for $300/point up to 2 points. Max of $1,250 or state max. Customer must make first 3 payments, in full, to avoid participation chargeback. 3 Restricted advances for Isuzu, Mercury, Oldsmobile, Plymouth, Pontiac, Saturn and Saab. 4 Max backend is subject to state max, where applicable; warranty maxes may vary based on tier. 1 2
© 2011 Santander Consumer USA Inc. All rights reserved. Rev. 11/2011 | 866.552.2528 | SantanderAuto.com
Santander Auto Finance Resources How to spot an SAF customer »»550 and above »»No recent major derogatory credit information »»Minimum $500 cash or trade »»Minimum of four open trade lines
santander Credit Number > 866.552.2528 Funding Number > 800.877.4696 S-Guard Number > 800.527.1984 x8703 Santander Payoffs Number > 888.222.4227 Web site > www.SantanderConsumerUSA.com News & Tips > www.GreenLightToDrive.com
For best pricing
Extranet > Dealer.SantanderConsumerUSA.com
»»60,000 miles or less »»Avoid restricted units
Contract Packages FedEx
»»Add a favorable co-signer »»Use favorable deal structures PTI
less than 5% LTV lower than 120% >20% down payment
Santander Consumer USA eDocs Program, Suite 2039 4054 Willow Lake Boulevard Memphis, TN 38153 Contract Packages UPS or USPS
To avoid additional fees please be aware of the following »»Expired approval fees will apply if approval is expired »»Resubmittal fee of $495 will apply if contracts have to be resubmitted »»No past due bills (POR/phone bills) or $249.99 will be charged
Santander Consumer USA eDocs Program, Suite 2039 3268 Progress Way Wilmington, OH 45177 Lienholder (for Title and Back-end Products)
Santander Consumer USA P.O. Box 25120 Lehigh Valley, PA 18002-5120
»»Self-employed applicants using bank statements as POI (in lieu of Tax Return) will be charged a $200 fee
SEND US all of your prime declines 550 and above 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.
LISTED ON DEALERTRACK AND ROUTEONE AS “SANTANDER AUTO.” SANTANDER AUTO FINANCE Ready for your Business SM
Like us
866.552.2528 | SantanderAuto.com
Follow us
facebook.com/SantanderAutoDealers twitter.com/SantanderDealer
