Q:

What is the average monthly car payment for Santander customers?

A:

Quick Answer

Monthly car payments vary for each consumer and are dependent on the loan term, annual percentage rate (APR) and loaned amount, as stated by Santander. A monthly car payment calculator is available on the Santander Consumer USA website to help its customers determine their payment rates.

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What is the average monthly car payment for Santander customers?
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Full Answer

The consumer's credit score also affects how the car payments are financed; a good credit score can give the buyer leverage when negotiating the loan agreement and terms, according to the DMV.gov. Additionally, the DMV notes that the length of loan terms can affect the interest rates, and generally buyers choose a 60-month or 5-year loan term: interest rates generally increase with the length of the loan.

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