Auto Finance

What you will need to know about financing a vehicle purchase

What is a simple-interest contract in auto financing?

What is a simple-interest contract in auto financing?

Just because auto financing involves simple-interest contracts doesn’t mean everyone understands them. Asking the question “What is a simple-interest contract?” is not unusual. And as a large auto lender with several million customers, Santander Consumer USA knows that many borrowers…

What you need to know about credit when financing a vehicle

What you need to know about credit when financing a vehicle

It should be no surprise. What you need to know about credit when financing a vehicle is that lenders generally provide more financing to borrowers with higher credit scores. Almost half the money loaned goes to so-called super-prime borrowers –…

Why your credit score is important

Why your credit score is important when financing a vehicle

Why is your credit score important? It may be one of the most important numbers in your life – besides your blood pressure reading – because it helps determine the availability and cost of credit for vehicle and other purchases….

Tax refund car purchase

Do people really buy new cars with their tax refunds?

Almost $3,000. That’s the average refund for a U.S. taxpayer. You may hear some suggest that $3,000 would make a nice down payment on a car. Or cover about five months of the average new-car payment or seven months for…