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I know some people might read this and think I made a bad decision, and that’s fair. I’m not writing

I know some people might read this and think I made a bad decision, and that’s fair. I’m not writing this review to argue with anyone or avoid responsibility. I’m sharing my experience so that others don’t rush into the same situation I did.

I financed a 2024 Ford Mustang through Santander. My credit was not perfect, but it also wasn’t terrible. I put $5,000 down, had good income, and was approved quickly. What I didn’t fully understand at the time was that the loan came with a 22.56% APR. That number was never clearly explained while signing. The entire process focuses on excitement—driving the car, feeling accomplished—until paperwork is placed in front of you and you’re rushed to sign.

My monthly payment was over $900, and after months of paying, I realized I was mostly paying interest. My balance barely moved, and I still owed more than $35,000. It honestly felt like I was working hard every month just to stay in the same place financially. At one point, my on-time payments also stopped appearing consistently on my credit report, even though I was told everything was being reported.

I fully accept that I signed the contract, but approval does not mean the loan is fair or reasonable. Looking back, I should have walked away, bought a used car, improved my credit, and waited. That option isn’t exciting, but financially it makes much more sense.

After improving my credit, I refinanced with another bank at under 10%, and the difference was huge. The stress disappeared, and it showed me how damaging this loan really was.

I’m posting this to warn others. Please slow down, read every number, ask questions, and don’t let excitement push you into a decision that can follow you for years. If this helps even one person think twice, then it’s worth sharing.

Date of experience: Dec 20, 2025