Consumer complaint received 2017-05-03
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Fraudulent loan
Company: Santander Consumer USA Holdings Inc. (NJ)

The application for a vehicle was denied due to high debt to income ratio multiple times. Approving bank had denied the loan  XXXX  times prior. On   XXXX   XXXX   XXXX  , after months of complaints filed and complaints dismissed, During a call to schedule payments I was informed the vehicle was scheduled for reposession. A representative from the bank informed me what the dealership reported as income, which is claimed as {$3300.00}  XXXX  Pay or similar description and {$4400.00} from day job, which is in fact inflated and not my true income.     An " investigation '' was opened. I called every several days and each time the bank requested new information such as banking statements from  XXXX  and   XXXX   XXXX  ,  XXXX   XXXX  Award Letter, and Salary Statements for  XXXX  and   XXXX   XXXX  . I provided this information. It took nearly  XXXX  weeks and I called again to follow up, I was advised " the loan is valid '' and comments such as " well in  XXXX  it seems as if your income was nearly {$2500.00}, '' to which I advised my salary is approximately {$1700.00} bi-weekly gross, any additional on my salary statement is my reimbursement for business expenses incurred and is not considered income. I reiterated that my income has not exceeded nearly $ 3500 monthly plus 2906 monthly received from  XXXX   XXXX .     I also reiterated that the same income provided at multiple dealers resulted in credit denials from all other banks, including  XXXX  prior denials of their own. The  Agent  on the phone stated " well, I appologize, the loan is valid. '' and to paraphrase, " I am not sure where you received information that we have report of your income as {$8500.00}. '' They refused to turn over documentation with income information to me and claim that I need to have subpoenaed They have gone back to " Well, we have a signed contract. '' My argument is not what I signed. My argument is that the loan is not VALID due to incorrect AND INFLATED income. When my income was inflated, it made my debt to income favorable. When asked why it was denied and then approved " well we do n't know why loans are denied '' and " I have n't really looked at the denial letters you submitted. '' They claim calls are recorded and monitored.     Again, my time has been wasted these past  XXXX  months arguing with this bank. They claim they " talk to a dealer relations department '' when I do not believe they do.     This has ruined my credit, wasted my time, and it needs to go away.     Dates :  XXXX  - Call to self surrender vehicle. Recieved call back from  Manager Spoke  to  XXXX  or  XXXX   XXXX , asked me " what changed about my income '' that I could no longer afford the vehicle. I responded nothing changed, income remained same, bills remain same - I do n't understand how this loan was approved   XXXX   - Sunday, call back and left  VM to Manager  to cease self surrender  X/X/XX  - Called over  XXXX  times before I reached someone to cease surrender and confirmed cease surrender  X/XX/XX  - Spoke to  XXXX   XXXX , I wanted to schedule payments to start making current because my credit had been suffering. Was advised can not schedule payment, vehicle assigned for reposession. when I asked what the actual income reported was  .. h e advised "  XXXX  from   XXXX   XXXX   '' and "  XXXX  from day job '' This is HIGHLY inflated. And when I told him he told me he would start an investigation once he received proof my income was not what is claimed '' Asked for copy - advised that finance application is  3rd  party property and is not to be disclosed to me   XXXX   E-mailed  XXXX   XXXX  the following message Mr.  XXXX , Thank you for the information. Is it possible you  may  send me a PDF copy of the documentation regarding my income that  Santander Consumer USA  received from  XXXX   XXXX . Please see my salary statements. This is the information that would have been provided as they are the most recent for the time the purchase took place. As soon as I can find my   XXXX   XXXX   award letter, I will scan to show you that I receive {$2900.00} per month   XXXX   XXXX  .     Salary  XXXX  $  (   XXXX  annual ) [  XXXX  of my statements will show reimbursement for travel, this is not income ]  XXXX   XXXX  $ This is less than {$6.00},  XXXX  monthly. You reported to me you received a monthly income near {$8500.00} " $  XXXX  ''  XXXX  " {$4800.00} ''  DayJob  I used  to drive as  a part-time  XXXX  driver (  XXXX  ) with my older vehicle, however, income from that after my expenses was less than  XXXX  $ monthly on average. This was omitted from the application I was advised.       I have also attached the scan of all of the other prior denials from  Santander Consumer USA.  Please do call me at your earliest convenience on Monday or Tuesday. I need this urgently investigated and resolved as the situation has been quite unfair, but I am glad you are at least  XXXX  that can see there is some problem at bay.     My understanding is that the loan was only approved because it " needed to look good '' by the dealer adding the extended 10 year warranty and my putting down a {$2200.00} down payment to secure the deal. The loan was signed because I was advised to " pay timely for  XXXX  months to a year and then refinance. '' My original vehicle 's APR was near 8 %.      XXXX  - Called to speak with  XXXX , was not in but  XXXX  or  XXXX   XXXX  assisted. I forwarded to the message I sent to  XXXX .      XXXX  - Called to follow up with  XXXX  or  XXXX ,  XXXX  advised she was unavailable but asked me to forward the bank statements to  XXXX  XXXX  XXXX   XXXX  spoke to  XXXX  - " under investigation and being reviewed by dealer relations department ''  XXXX  received voice message from  XXXX , called back Office of the President, spoke to  XXXX  - Needed copy of VA award letter, advised I needed to find it but my bank statements indicate my monthly  XXXX  deposit.      XXXX  -  XXXX  Follow up with  XXXX  " being reviewed ''  XXXX  Requested  XXXX  Award Letter, found it and submitted an image of this, along with banking statements - I forwarded over information I had already forwarded ALONG WITH prior denial letters ( as I sent to  XXXX  )  XXXX  Spoke with  XXXX  and claims " he was about to call me '' and " I need to gather my notes '' claims " loan is valid, it is a signed contract '' that 's where he proceeds to tell me he unsure where the income I claim is inflated and fraudulent comes from, he retorts " again, we have a signed contract, I am sorry the loan is valid. '' This being stated - I do not believe ANYONE contacted any dealer relation department, nor a such department exists.     I have contact counsel on this matter.