Consumer complaint received 2025-03-11 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Struggling to pay your loan — Denied request to lower payments
Company: SANTANDER HOLDINGS USA, INC.
State: FL

Complaint narrative:
Subject : Formal Complaint Predatory Lending, Unauthorized Credit Inquiries, and Fraud at XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX FL XXXX XXXX XX/XX/year> Consumer Financial Protection Bureau ( CFPB ) [ CFPB Address or Online Complaint Portal ] To Whom It May Concern at the CFPB, I am submitting this complaint against XXXX XXXXXXXX XXXX XXXX XXXX XXXX, regarding predatory lending, unauthorized credit inquiries, fraudulent misrepresentation, and deceptive sales practices that have resulted in severe financial harm to me. 

Issue # 1 : Unauthorized Credit Inquiries & Credit Damage XXXX XXXX ran my credit multiple times without my full authorization across numerous banks, severely lowering my credit score. 

The dealership engaged in shotgunning, submitting my application to multiple lenders without disclosing this beforehand, which caused excessive hard inquiries on my credit report. 

When I returned later to trade the vehicle ( as they promised ), they ran my credit again without consent, further damaging my score and making it harder for me to obtain financing in the future. 

Issue # 2 : Predatory Lending & Fraudulent Car Sale The dealership pressured me into a 27 % interest loan through Santander Bank, an extremely high and unreasonable rate that was not properly disclosed before signing. 

They misrepresented the condition of the vehicle, cleared warning lights, and concealed {$2000.00} worth of damages. 

They failed to honor a verbal agreement made by XXXX XXXX ( now General Manager ) to allow me to trade the vehicle for a better one after fixing it. 

Issue # 3 : Broken Promises & Deceptive Practices When I returned to trade the vehicle ( per their agreement ), they backtracked on their promise and attempted to lock me into another 72-month predatory loan.

Former General Manager XXXX XXXX ( who sold me the car ) is no longer with the dealership, indicating potential past mismanagement and unethical business practices. 

XXXX XXXX, now in charge, personally made verbal commitments to me but refused to honor them. 

I have repeatedly attempted to speak with a manager over the phone regarding these issues, but no one has responded to my request or followed up with me. This lack of communication and accountability further highlights the dealerships deceptive practices. 

Requested Resolution from the CFPB As a victim of fraud, deceptive lending, and credit abuse, I request the CFPB to take the following actions immediately : Investigate XXXX XXXX unethical practices regarding auto financing, credit inquiries, and misleading sales tactics. XXXX XXXX XXXX and Santander Bank to remove the unauthorized hard inquiries from my credit report. Hold XXXX XXXX accountable for misrepresenting the vehicle 's condition and breaking their trade-in agreement. Consider regulatory action against XXXX XXXX and its financial practices to prevent future consumer harm. Ensure I receive compensation for the financial harm caused by their deceptive lending practices. 

This dealership has caused significant financial damage to me, and I am requesting immediate intervention from the CFPB. If this issue is not addressed, I will explore legal action for damages. 

I appreciate your urgent attention to this matter and request a written response with a case number confirming the investigation. 

Sincerely, XXXX XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation