Consumer complaint received 2026-02-23 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Loan balance remaining after the vehicle is repossessed and sold
Company: SANTANDER HOLDINGS USA, INC.
State: FL

Complaint narrative:
CFPB Complaint Draft Company Name : Santander Consumer USA XXXX : Auto Loan Issue Type : Incorrect information on loan / Problem with fees/ Loan servicing issues Account Ending : XXXX Contract Date : XX/XX/XXXX Complaint Narrative : I am submitting this complaint regarding multiple disclosure and servicing issues related to my retail installment auto contract with Santander Consumer USA. Misrepresentation That XXXX Was Required At the time of purchase, my spouse and I were informed that a XXXX product was required in order to obtain financing approval. The contract later disclosed XXXX as optional ; however, we were led to believe it was mandatory to secure the loan. Under the Truth in Lending Act ( 15 U.S.C. 1605 and 1638 ), optional debt cancellation products must be truly voluntary and can not be required as a condition of credit. If XXXX was required as represented, its exclusion from the finance charge may have resulted in an inaccurate finance charge and APR disclosure. Down Payment of {$2500.00} Not Properly Credited We paid a {$2500.00} down payment at the time of sale. However, the Truth-in-Lending disclosure box reflects a {$0.00} down payment, and the Amount Financed does not appear to properly account for this payment. An inaccurate Amount Financed directly impacts the finance charge and APR calculation under 15 U.S.C. 1638 ( a ) ( 2 ) ( A ). We are requesting a full accounting of how our down payment was applied. Trade-In Vehicle Not Properly Reflected We traded in a XXXX XXXX vehicle and were given a trade-in allowance of {$5500.00}. We are requesting documentation showing : Gross trade-in value Payoff amount ( if any ) Net trade-in credit applied to the transaction How this amount was reflected in the Truth-in-Lending disclosures If the trade-in allowance was not accurately reflected in the down payment or itemization of amount financed, this constitutes a material disclosure concern under federal law. Undisclosed Add-On Products The contract included additional products totaling approximately {$2400.00} ( Tire & Wheel coverage and Auto Armor ). These products were not clearly explained or presented as optional during the transaction. We request documentation showing affirmative consent and disclosure for these add-ons. Repossession and Accounting Concerns The vehicle has since been repossessed. We are requesting : Notice of default Notice of sale Proof that the sale was commercially reasonable Full deficiency balance calculation We formally dispute any alleged deficiency balance until full documentation is provided. Resolution Requested : We are requesting : Written accounting of the {$2500.00} down payment Full accounting of the {$5500.00} trade-in allowance Review of whether XXXX was improperly required Refund or adjustment of improperly added products Full deficiency accounting Correction of any inaccurate credit reporting We are seeking a fair resolution and full compliance review under federal consumer protection laws.

Company response to consumer: Closed with explanation