In 1995, a group of young entrepreneurs thought they could make their mark on the world of automotive finance by thinking a little bigger and a lot bolder than the competition. It turns out, they were right. The explosive growth and success of the new company quickly caught the attention of the financial world and several mergers and acquisitions later, Santander Consumer USA emerged.
Company begins financing cars.
FirstCity Funding is formed as a nonprime auto finance company.
FirstCity Funding becomes Drive Financial Services LP.
Banco Santander of Spain becomes majority owner of Drive Management LP and company becomes Santander Consumer USA (SC).
Banco Santander and our former CEO and founder Thomas Dundon form Santander Holdings USA.
Santander Consumer USA launches Chrysler Capital auto purchase and lease financing program with Chrysler Group LLC.
Santander Consumer USA becomes a public company with a listing on the New York Stock Exchange (NYSE: SC).
Santander Consumer USA is one of the largest auto lenders in the country.
Scott Powell is named President and CEO.