Consumer complaint received 2020-01-13
Company: Santander Consumer USA Holdings Inc.
State: FL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
On XX/XX/XXXX of XXXX, i purchased a XXXX XXXX from the XXXX, Fl dealership. I put {$10000.00} dollars down as my down payment. My sales contract had the following terms : 72 payments @ {$260.00} / mo. running from XX/XX/XXXX - XX/XX/XXXX with Santander Consumer Financing. {$12000.00} was financed for {$7100.00} interest over the 72 months for a total of {$19000.00} owed to Santander. We are in the 67th month of the 72 month loan and have already paid over {$10000.00} dollars in interest. That's {$3000.00} dollars more than the stated contract. They claim that there is still more interest to pay. We have paid {$13000.00} of the {$19000.00} loan. That leaves {$5200.00} owed on the loan. We have 5 payments of {$260.00} owed on the back end of the loan which would extend our payments to XXXX of XXXX. Santander Consumer claims we still owe {$10000.00} on the car. They have overcharged me on interest and not been applying my payments to the principal balance for years. This is fraud / theft. Every time i talk to a representative of the company, their statements contradict the prior representative i have talked to. I got dangerously ill in XXXX and XXXX and Santander worked with me on minimum payments to help me out. I do appreciate that. My payments were originally set up as being due on the XXXX of each month since i am XXXX and receive my monthly check on the XXXX of each month. They now claim my payments are due before i get paid and are charging me late fees for the last 3 years. They are threatening to repossess the car on the XXXX of this month ( XX/XX/XXXX ) if i do not pay the estimated {$10000.00} dollars by then. I want the overcharged interest ( currently over {$3000.00} dollars ) applied to the minimum payment months ( 18 ) and any outstanding payments owed on the back end of loan. 10 more payments owed this year and they are trying to steal my car from me after almost 6 years of steady payments.! 0 payments of {$260.00} = {$2600.00} owed on the loan, not {$10000.00}. Santander has been harassing us daily for about 2 years on the phone and has ruined my credit causing me to have to pay higher insurance rates. Santander has on my credit report that i did not pay the loan and i owe them just under {$10000.00} dollars. I want this removed immediately!! If they are trying to take my car back after almost paying off the loan, how many other people have they illegally scammed this way over the years. I suggest a thorough auditing review investigation by the government should be implemented immediately to put an end to these kind of " predatory '' business lending practices. You can not establish a plan and then not honor it with the consumer. By the way, Santander claims they did not receive my {$10000.00} dollar down payment. XXXX says they didn't get my {$10000.00} dollar down payment. Yet, it clearly shows the {$10000.00} dollars as the down payment on the loan / sales contract. Who is scamming who here?

Company response to consumer: Closed with explanation