Consumer complaint received 2025-01-16 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — High-pressure sales tactics
Company: SANTANDER HOLDINGS USA, INC.
State: TX

Complaint narrative:
I am writing to file a formal complaint regarding the auto XXXX obtained for the purchase of a ( VIN : XXXX ) purchased from your dealership on XXXX XXXX from XXXX XXXX XXXX XXXX by XXXX XXXX, located at XXXX XXXX XXXX XXXX XXXX, XXXX, TX XXXX. I have encountered multiple issues with the loan, the dealerships practices, and the condition of the vehicle that I believe violate my consumer rights under both federal and Texas law. 

Below, I outline the key issues I am experiencing : XXXX. Misrepresentation of Vehicle Condition At the time of purchase, I was not informed of significant mechanical issues with the vehicle, which rendered it undriveable until XXXX. Furthermore, I was not told that the vehicle had been broken into and rekeyed causing issues with the ignition. These issues were never disclosed to me, constituting fraudulent misrepresentation of the vehicles condition, and I was sold a car under false pretenses. 

XXXX. XXXX XXXX XXXX XXXX {$3000.00} service contract was included in the financing agreement, but I was told it was mandatory. I was not provided with any option to decline the service contract, and it was never disclosed to me as an optional add-on. This charge was improperly added to the loan, violating my rights as a consumer. 

XXXX. Unfair and Excessive Financing Terms The APR of 20.60 % and a finance charge of {$22000.00} are excessively high for the vehicle and my credit profile. These terms were not fully explained to me, and I believe they constitute an unfair and deceptive practice in violation of the Truth in Lending Act ( TILA ). 

XXXX. Promised Compensation Not Honored At the time of purchase, I was promised compensation to help with the high monthly payments ( over {$600.00} per month ), but this promise has not been fulfilled. The dealership has failed to provide any follow-up or financial relief, despite their assurances. 

XXXX. Excessive Fees and Charges I was charged several unexplained fees and costs during the loan process, including : - Dealer inventory tax : {$59.00} - License fee : {$110.00} - Documentation fee : {$150.00} - Sales tax : {$1400.00} - State of Texas fee : {$20.00} - And other charges that I was not properly informed about at the time of sale. I believe that some of these charges are illegitimate, excessive, or improperly disclosed. 

Action Taken I have attempted to resolve these issues directly with both the dealership and the lender, but my efforts have not led to a satisfactory resolution. I have also sent formal letters to the lender and the dealership, requesting the cancellation of the loan, a refund of payments, and the removal of the mandatory service contract. 

I am requesting that the CFPB, FTC, and the Texas Attorney Generals Office investigate these actions and take the necessary steps to enforce my consumer rights under Texas Deceptive Trade Practices Act ( DTPA ), Truth in Lending Act ( TILA ), and other relevant consumer protection laws. 

I respectfully request the following : XXXX. Investigation into the dealerships and lenders deceptive practices related to the loan and vehicle sale. 
XXXX. Assistance in resolving the unfair terms of the loan, including the excessive APR, non-optional service contract, and the promised compensation that was not provided. 
XXXX. Enforcement of consumer protection laws and remedies under federal and state law. 
XXXX. Cancellation of the loan and a refund of all payments made, including the service contract and any other illegitimate charges.

Company response to consumer: Closed with explanation