Anjalo Gomez

Review of Sovereign Bank (Texas)

Well almost 2 years ago I had gotten approved for ...

Well almost 2 years ago I had gotten approved for my first car loan which I thought was a blessing. And about a year and 3 months into it I had called to see if I could refinance my loan cause this 20%+ interest rate is killing me. I ve done the math, and with on time payments for the duration of the loan it breaks down to me still owing even after the term has ended. And as it turns out they DO NOT*** offer refinancing. So if you re a first time buyer look for another car loan that offers refinancing after a good set amount of time if you re doing monthly payments. I would ve never got the loan from this establishment if I had known they do not offer refinancing. But thankfully I just need to stay at my job for another 3 months to get approved at my bank for an auto loan. I ve made all my payments on time and think it s time to put myself in a better position on this loan. Thanks santander(I guess) for building my credit but no thank you. But let me just point out that of course I knew I was going to be put at a high interest rate cause i m a first time buyer but you should REWARD** the customer for putting money in your pocket by taking the loan and making on time payments. I ll be sure to tell my family, friends, children, grandchildren and strangers to avoid this place as a first time buyer.
I ll give 1 star for building my credit and another for the customer service. They answer pretty quick. So props to that. Thank you!