Consumer complaint received 2023-06-03
Company: SANTANDER HOLDINGS USA, INC.
State: PA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
The company is trying to escape liability for the terms of the contract. It clearly states on the back of my contract that " ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTER COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT HERETO OR WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTER SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER ''. There were many aspects of this contract that did not abide by Federal Regulations including, the mischaracterization of the Finance Charge, No explanation of the fact that I was signing my property over to the dealership or Chrysler Capital, when my own credit was extended in order to purchase a private vehicle for family use. The contract clearly states that {$57000.00} was paid on that day, including a {$1000.00} cash payment, which is against the Regulatory Guidelines of the characterization of the finance charge. The finance charge can not include charges of a type payable in a cash transaction. This means that I was either robbed of security interest in my vehicle, or I was duped into a different type of transaction than the Consumer Credit Transaction that I clearly stated to both XXXX XXXX & XXXX XXXX that was my intention to initiate, when I arrived to purchase the vehicle. I did not understand this contract, or the laws which protect me from unfair credit practices at the time of signing & I'd like to cancel it immediately due to the violation of my right to acquire consumer credit in an honest & fair environment, violation of Federal Regulation due to the mischaracterization of the finance charge & failure to provide an accurate & true itemization of the finance charge. It was not clearly stated that I have the option to choose optional charges like the service contract or GAP, which were financed with the dealership, when they should have been a part of the Finance Charge if I did chose them once presented with the clear option ( which never happened ), & never explained to me there was a separate cash transaction taking place in concurrency with the Consumer credit transaction, but somehow I was charged another {$30000.00} by the dealership outside of the Original {$25000.00} that was extended to me through the use of my social security number ( credit card number ) in order to attain the vehicle. It also clearly states in my contract, that I am to pay {$56000.00} over the coarse of 72 monthly payments of {$770.00} but in your recent letter to me, you acknowledged that I was to pay {$770.00} towards the funded amount of {$30000.00}, which could only mean that the Original Contract is null & void & your records don't match what was purported to me on XX/XX/2023. I've clearly requested of Chrysler Capital, an itemization of the finance charge, which they have failed to provide. I believe it dishonest & impractical to purport that I would willingly agree to pay {$30000.00} in an unrelated cash transaction in order to receive a truck which cost only {$25000.00} of my consumer credit, with complete knowledge of the context & all conditions within this contract. I've clearly stated legal grounds under which this contract should be VOID & all moneys arising from the transaction returned to the Original creditor of the Original Consumer Credit Transaction, which would be XXXX : XXXX.

Company response to consumer: Closed with explanation