The Santander automobile consortium has great advantages for those who are struggling to acquire their first car or even change their current one. Therefore, in addition to this consortium model, Santander has other plans to help and please all customer groups.

If you don't already know, the consortium is that modality of payments together. In summary, a certain amount of individuals or legal entities come together with the intention of buying a good or service through joint financing.

In addition, in the Santander consortium, participants do not need to be Santander account holders, they just need to pay each monthly installment until they reach the contemplation, through a drawing or bidding.

So, in this post we will explain everything you need to know about the Santander consortium, its characteristics and advantages over others in the market. Check it out below!

The Santander car consortium looks a lot like financing, but here you don't pay a down payment or interest. Therefore, it is basically what many call a joint purchase, in which you start paying before receiving the product, whatever it may be.

In this sense, every month, for a period determined in the contract, consortium participants contribute a pre-established amount. Thus, each month a raffle takes place, in which a taxpayer wins and can use the letter of credit in any way they want. In addition, it is worth remembering that the purpose of using the letter must be in the segment established by the consortium.

However, some people who are not familiar with this form of payment may be confused about the term “letter of credit”. Well, the letter of credit is the way the consortium administrator pays the participants, so it is possible to buy anything within the consortium class.

The consortium comes to an end when everyone in the plan receives their credit correctly. In summary, this period is equivalent to the number of installments provided for in the contract.

Banco Santander offers a wide range of consortia which we will see below. In the case of the automobile consortium, the values vary according to the type of plan defined.

Below are the main advantages of the Santander consortium compared to other options on the market:

Unlike other consortium options, Santander offers several plans for virtually all customer groups. Check it out:

Anyone and everyone who wants to join the program and wants to acquire a good that is in the above modalities can participate in the Santander consortium.

This is because the only restriction is the minimum age of 18 years and a maximum of 70 years of age. Also, only companies older than 1 year can participate. Finally, remember that it is not necessary to have a bank account to join the consortium.

Simply resort to the bank's communication channels on working days, from 8 am to 8 pm, excluding holidays. For individuals, follow the contact numbers:

For companies, the numbers are:

Your application is available for account holders in the Play Store and App Store, and you can also access the Santander website.

Did you like it? To learn more about how to apply for the Santander car consortium, just access our recommended content.