Answers to the most taxing questions asked about credit and underwriting

Santander Consumer USA has been working with dealers for a long time, so we know questions arise about how we work together to help your business grow.

Especially among dealers who have just started working with us or who need a refresher.

022915 IL Answers toGetting the answers to those questions takes on even greater urgency during the busy tax season, when more customers than usual are crowding your dealership, looking for new and used vehicles, driven in part by tax refunds they have received or anticipate from Uncle Sam.

That’s where the Dealer FAQ on our website comes in as we try to answer the most frequently asked questions we receive from Santander’s many franchise dealers.

Here are some of the most frequently asked questions on credit and underwriting whatever the season:

Q. Do you use credit scores in the application process?
A. We create a custom score for each individual applicant based on their specific credit history. The credit score is one factor in creating that custom score. Our financing programs provide a high rate of approvals for all types of credit situations, including nonprime.

Q. How fast can I expect an approval on my funding application?
A. Most decisions are received almost instantly.

Q. If I send in a complete contract, how long does it take to get purchased?
A. We can purchase your contract within 24-48 hours of receipt, contingent upon verifications. Packages with complete and accurate paperwork often fund the same day as received. Our Route One platform also provides eContracting, where our average turnaround time is less than an hour.

Q. How long does it take, on average, for a deal to be funded?
A. Funding may be complete within 24-48 hours, though it could take longer depending on the completeness and accuracy of the paperwork (the cleaner the paperwork, the faster the funding). Our Dealer Extranet ( enables dealers to view and upload documents and communicate with funding during the funding process.

Q. What are your underwriting hours?
A. We have extended underwriting hours until 7:30 p.m. (Central Time)Monday through Friday and 10 a.m. to 5 p.m. Saturdays. We also are available most holidays. Our Dealer Extranet also has a real-time rehash tool that enables the dealer to be their own buyer 24 hours a day.

Q. What is the best way to reach my buyer if I can’t reach him/her by phone?
A. The fastest way to communicate with a buyer is to send a note via Dealertrack or RouteOne. The Extranet provides another way for dealers to communicate with a buyer. Dealers also can reach a buyer via email that includes the application ID number and question. Please see Dealer Contact Info to reach a buyer or for other contact information, or contact your ASM.

Q. How can I be sure I’m submitting all required paperwork for funding?
A. Use the funding checklist on the Inside Lane dealer blog to make sure you’re on track, follow stipulations on your callback and/or work closely with your ASM.

Now that your most taxing questions are answered, let’s get down to business.

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