New Santander Consumer Finance leasing contract 2026: what changes

Key data

If you are planning to finance machinery, industrial vehicles or any equipment through leasing with Santander Consumer Finance, the contract terms being presented to you have changed. The Resolution of April 8, 2026 from the General Directorate of Legal Security and Public Faith, published in the BOE on April 22, 2026, approves modifications to the H model of financial leasing used by this entity.

This is not a minor procedural change: any leasing contract signed with Santander Consumer Finance from now on will be governed by the new terms and conditions, not the previous model. Understanding what has changed is key before committing to a financing operation.

What does this regulation establish?

The resolution approves the modifications introduced in the financial leasing contract model identified with the letter H and its annexes, which is the standardized model that Santander Consumer Finance, SA uses to formalize its leasing operations.

This type of resolution responds to a mandatory registration procedure: financial entities that operate with standardized contractual models must obtain approval from the General Directorate of Legal Security and Public Faith for those models to have official validity. Without this approval, the model cannot be used.

What this means in practice:

• The previous H model is replaced by the modified version approved on April 8, 2026.
• New leasing contracts with Santander Consumer Finance will be formalized under the new terms and conditions and updated annexes.
• Contracts already signed with the previous model are not affected by this resolution.
• The specific text of the modifications introduced in the terms and conditions has not been detailed in the resolution published in the BOE; to know the specific changes it is necessary to consult the complete model with the entity.

Financial leasing or leasing is a common financing formula for companies and self-employed individuals who need access to equipment, vehicles or machinery without paying the full amount upfront. The entity (lessor) acquires the asset and leases it to the customer (lessee) in exchange for periodic payments, with an option to purchase at the end of the contract.

Economic and operational impact

The direct impact of this resolution is not a new economic burden in itself, but a change in the contractual terms that will govern leasing operations with Santander Consumer Finance. The practical implications for companies are:

• Financial terms: The new terms and conditions may modify aspects such as penalties for early termination, conditions of the purchase option, responsibilities regarding the leased asset or criteria for updating payments. These elements have direct economic impact on the total cost of the operation.
• Contract negotiation: Knowing the new model before negotiating allows you to identify clauses that may be subject to negotiation or that require prior legal analysis.
• Tax planning: Financial leasing has specific tax treatment (deduction of payments in Corporate Income Tax). Any change in the contract structure may affect the tax planning of the operation.
• Ongoing operations: Companies with leasing contracts already signed are not affected. It only impacts new operations.

Who does it affect?

This resolution directly affects:

• Companies of any size that finance equipment, machinery or industrial vehicles through leasing with Santander Consumer Finance, SA.
• Self-employed individuals who use financial leasing from this entity to acquire vehicles or equipment necessary for their activity.
• Individuals who contract financial leasing with Santander Consumer Finance.
• Financial directors and CFOs who manage their company's asset financing portfolio and must evaluate the conditions of the new model before authorizing operations.
• Tax and legal advisors who advise clients with leasing operations with this entity.

It does not affect:

• Customers with leasing contracts already signed under the previous model.
• Companies operating with leasing from other financial entities other than Santander Consumer Finance, SA.

Practical example

A transport company negotiating in May 2026 a leasing contract with Santander Consumer Finance to finance a fleet of industrial vehicles will receive the updated new H model, not the previous one.

Before signing, the financial director should:

1. Request the complete text of the new H model and its annexes from Santander Consumer Finance.
2. Compare it with previous contracts signed with this entity to identify changes in key clauses: penalties for early termination, residual value of the purchase option, responsibilities for maintenance and insurance of the asset, and conditions for updating payments.
3. Transfer the analysis to your legal or tax advisor if relevant changes are detected that affect the total cost of the operation or the tax treatment of the payments.

This process is especially relevant in high-value operations, where small variations in contractual terms can translate into significant differences in the total cost of the leasing over its life.

What should companies do now?

1. Identify if you have pending leasing operations with Santander Consumer Finance: If you are in the process of negotiating or about to sign a financial leasing contract with this entity, the new H model is already the one that will be applied.
2. Request the complete text of the new H model and its annexes: Ask Santander Consumer Finance for the updated contract documentation before signing. It is your right as a customer to know the full terms and conditions of the contract.
3. Review key clauses: Pay special attention to penalties for early termination, conditions of the purchase option, responsibilities regarding the asset and criteria for updating payments.
4. Consult with your legal or tax advisor: If you detect changes from previous models or conditions you do not understand, refer them to a professional before committing.
5. Archive the signed contract model: Always keep a copy of the contract and its annexes as they were signed, to be able to prove the agreed terms throughout the life of the leasing.