Consumer complaint received 2023-05-10
Company: SANTANDER HOLDINGS USA, INC.
State: FL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Problems at the end of the loan or lease
Sub-issue: Unable to receive car title or other problem after the loan is paid off

Complaint:
XXXX XXXX XX/XX/XXXX XXXX XXXX XXXX XXXX Dear CFPB, Santander is refusing to give me the title for my car despite it being paid off in full. I have had numerous interactions with staff and their corporate office, last payment was made XXXX of XXXX. The vehicle has been paid in full. Santander is stating there is an unpaid balance of {$6000.00} of unpaid interest to which I am contesting and disputing. Payments to my car were made on time according to the agreement that was made at the dealership. I invoked deferments and paid those off by continuing to pay on the vehicle for a year longer than the original loan amount to cover the 11 months of deferments, which were all paid in full. There was a period where I was late on payments in XXXX, and the vehicle was temporarily repossessed to which we entered an agreement to continue paying to keep the vehicle, to which I complied with until the end of term. Santander is trying to state they were charging me {$2.00} a day in interest to which I did not know about, nor agree to. This went on for 4 years of payments and only found about it when they refused to issue my title. I never would have agreed to such extortionairy practices. If Santander has a document with me agreeing to, and initialing or signing next to agreeing to that specific amount of interest charged, then I wish to see it. But they have no such document and can not prove I was aware of any such DAILY INCURRING LATE FEE CHARGE. 

Furthermore, the vehicle was temporarily repossessed through illicit and unethical means. It was repossessed using a tracker, to which they have currently stopped doing because it was deemed an unethical business practice when we all know Santander admitted to consumer protection fraud and anti trust violations to the tune of a half XXXX dollars, to which I should have been included and had my loan forgiven under those terms. Unfortunately, Santander gets to decide who was qualified for being taken advantage of during their time of violating the consumer protection laws. I do not trust what Santander says because they were found guilty of consumer ( customer ) fraud and anti trust violations. They were lucky I did not know about the suit and continued paying on the loan, or else I would have stopped way back when the charges were brought against the company and sought a forgiveness of the loan back in XXXX. 

Furthermore, Santander has refused to report my good credit standing that I had with their company to the credit bureaus for paying off the loan as agreed to at the dealership. I am asking for nothing less than the title for my vehicle for Santander to tell the truth be told about my good paying credit history with them to the credit bureaus, because that is nothing short of what actually happened and they should be ordered to report the good credit I have with them, which is a near almost perfect repayment history with their bank. Santander a ridiculous predatory bank who cares nothing about good customer payer bases or customer retention. By law, at the very least they should be ordered to report the truth to credit bureaus regarding the repayment facts of my loan, regardless of the title status. 

Santander is a predatory, foreign company taking advantage of U.S. Consumers. Going forward, I will not be paying one single cent to Santander and this auto loan will fall off my credit from the date of last payment. The vehicle is not worth what they are claiming I owe on it, it has a blend door issue which makes the vehicle almost worthless as it does not have heat or air conditioning, and it is a {$3000.00} fix meaning the dealership has to remove the windshield and the dashboard to fix it. Coupled with the fact the car has XXXX miles on it an is ten years old makes it virtually worthless. If Santander has not made any effort to reclaim the vehicle it means it's virtually worthless to them. Why would they make me pay for a vehicle that is worthless to them if it is not worth it. Santander employs unethical and shady business practices to extort and exploit money out of US consumers. 

I demand that the company release the title to me immediately, and report my good credit repayment standing to all three credit bureau 's, as it has been paid in full according to the agreement made at the dealership and forgo any ridiculous accused daily interest exploitation, and report my good payment history in accordance with US law. 

Sincerely ; XXXX XXXX

Company response to consumer: Closed with explanation