FI showroom red and grey logo
MenuMENU
SearchSEARCH

Santander Confirms Plans for IPO

According to a filing with SEC last week, Santander Consumer USA confirmed its intentions to raise up to $50 million in an initial public offering.

by Staff
July 9, 2013
2 min to read


DALLAS — According to a July 3 filing with the Securities and Exchange Commission (SEC), Santander Consumer USA confirmed plans to raise at least $50 million in an initial public offering.

“Our primary goal is to create stockholder value by leveraging our systems, data, liquidity, and management,” the filing read. “Our growth strategy is to increase market penetration in the consumer finance industry while deploying our capital and funding efficiently.”

Ad Loading...

Reports of a plan to take the company public surfaced in May, the same month Santander kicked off its 10-year agreement with Chrysler Group LLC to purchase finance contracts from the automaker’s dealers and FIAT outlets under the Chrysler Capital brand.

“We expect Chrysler Capital to help Chrysler Group continue its sales growth by offering consumers the most competitive and innovative retail purchase and lease financing available in the marketplace,” said Peter Grady, vice president of network development and fleet for Chrysler Group, at the time. Chrysler Capital replaced Ally Financial as Chrysler’s preferred lender.

In the recent filing with the SEC, Santander’s agreement with Chrysler is listed as a risk factor, with the company indicating that its agreement with the automaker could be terminated if it does not “result in currently anticipated levels of growth.” Santander paid Chrysler a $150 million upfront, nonrefundable payment as part of its initial agreement.

“Under the Chrysler agreement, we have agreed to specific transition milestones, including market penetration rates, approval rates, and staffing and service milestones for the initial year following launch,” the filing reads. Additionally, the agreement may be terminated if “a person other than SHUSA [Banco Santander] and its affiliates owns 20 percent or more of our common stock and SHUSA owns fewer shares of common stock than such person, or … we become, control, or become controlled by, an OEM that competes with Chrysler.”

Reuters recently reported that Spain-based Banco Santander is considering existing its U.S.-based auto finance business, of which it owns 65 percent, via IPO, as it hopes to bolster cash on its balance sheet through asset sales as the Spanish economy continues to deteriorate.

Ad Loading...

Tom Dundon, CEO, owns about 11 percent Santander Consumer USA, while the remaining shares were purchased by Centerbridge Partners, KKR and Warburg Pincus for a total of $1 billion. The company has a portfolio of approximately $21 billion and relationships with nearly 14,000 U.S. dealers.

More F&I

Cover image for a BOK Financial report titled “Timing the market: How avoiding volatility entirely can hurt long-term reinsurance program performance.” The image shows several road construction barricades with flashing amber warning lights lined up in a nighttime work zone. Beneath the image, red text explains that avoiding volatility can mean falling behind inflation and missing market rebounds that drive long-term surplus growth. The BOK Financial logo appears at the bottom right.
SponsoredMay 8, 2026

Timing the Market Can Hurt Long-Term Program Performance

For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.

Read More →
Ryan Ruff, The 90/10 Rule, Automotive Training Academy, Sales Series
F&IMay 6, 2026

The 90/10 Rule

In this video, Ryan Ruff explains the rule that elite sales professionals use to turn ordinary conversations into unforgettable customer experiences.

Read More →
Photo of essential oil diffuser on desk next to laptop
F&IMay 4, 2026

Your Office Is Talking

What’s the atmosphere saying about you to your customers? You can make minor adjustments and additions that transform your space into one that creates trust with the people on the other side of the desk.

Read More →
Ad Loading...
"Effective training ensures the customer’s needs remain at the heart of everything we do. When that is the focus, both sales and profits naturally improve." by Rick McCormick with F&I and Showroom logo and picture of Rick McCormick
F&IMay 1, 2026

F&I Training Fundamentals

How can auto dealerships help F&I managers fulfill their vital role in the most effective ways? Industry expert Rick McCormick shares his insights on the best ways to train these professionals and help them maintain good habits.

Read More →
Photo of car tire and the tread mark it left in snow
F&Iby Hannah MitchellApril 29, 2026

Not Just Any Tire Will Do

More consumers and businesses are opting for all-season options for various reasons as safety, sustainability and convenience push practical change.

Read More →
Photo of robot holding a laptop
F&Iby Hannah MitchellApril 27, 2026

How AI Will Drive the Next Wave of Innovation in Finance & Insurance

It’s time to take the next digital step to free F&I managers to handle the most challenging aspects of customer meetings.

Read More →
Ad Loading...
Photo of notepad and pen next to computer keyboard on desktop
F&IApril 13, 2026

Control in Sales Is an Illusion

Some of it should be given to the customer, but that doesn’t mean the F&I office relinquishes the process. In fact, a different approach both builds trust and boosts sales.

Read More →
Photo of external keyboard on office deak next to window
F&IApril 7, 2026

The Limited Warranty Game

Bringing it in-house benefits the dealership and its customers.

Read More →
Woman in casual clothing sitting at a desk
F&Iby Rick McCormickMarch 31, 2026

Curb The Confusion

Talk to F&I customers like you’d talk to a friend, without industry lingo or sales-like questions, and use hard proof to show, not tell, them about a need.

Read More →
Ad Loading...
Photo of man's hand on laptop computer keyboard with blank screen
F&IMarch 16, 2026

There Is Always one More Product

Helping F&I customers understand complementary offerings is likely to lead to more sales, based on the success of a high-performing practitioner of the philosophy.

Read More →