Just because auto financing involves “simple interest” doesn’t mean everyone understands it.
And as a large auto lender with several million customers, Santander Consumer USA knows that many borrowers are confused by how simple interest works.
That confusion can cost a borrower money, so it’s in his/her interest, your interest, to make those monthly auto payments on time, at least, or even early if possible.
To help you understand how simple interest works, we’ve produced a short video that should help. Part of our “Finance in Action” video series, “How Simple Interest Works” appears in the Learning Center on the Santander Consumer USA website.