Consumer complaint received 2025-02-27 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Confusing or misleading advertising or marketing
Company: SANTANDER HOLDINGS USA, INC.
State: FL

Complaint narrative:
From the beginning of the signing, which was done at XXXX XXXX XXXX in XXXX XXXX, XXXX, Although the XXXX  XXXX was friendly, I was rushed to review and i was highly suggested to get GAP insurance as well. So during electronic signing, I understand this is not the fault of the lender but I wanted to read the loan and he highly suggested to review it after the signing. I may put a complaint on the dealership as well, since I was reading the questions and options it was actually multiple things, I feel is involved in the process. After reviewing the contract I found the interest rate to be incredibly high. I already knew that a down payment was not mandatory but they would " not let me move forward without it ''. After looking into the contract I did further research and realized quickly regarding XXXX, and XXXX XXXX XXXX. The lender is bound to all XXXX and XXXX XXXX, as well as things like XXXX  XXXX XXXX - XXXX XXXX. During all of this, I still sent my first initial payment from the original security coupon, I remitted that and sent the payment promptly I sent copies of all these to their indentured Trustee as well. Let me add the transmission blew completely only 31 days into the contract and they didn't want to give me any grace on the payment time I as without the vehicle. They paid for the transmission after testing to prove the transmission was an issue prior to purchase. I sent all supporting documents straight from the XXXX, XXXX, Government archives and Publications. I requested after they did not give me clear and concise information in that contract that I was able to rescind the contract for up to XXXX years. The interest rate is outrageous and to my understanding the overall charges/rates are well over {$100.00} overstated. I sent the appropriate notification, I allowed the necessary XXXX  days to pass. During this time I still signed and sent stamped remittance coupons to them. After sending the XXXX  payment, I called and it was confirmed the payment was received and would post by XXXX that day. After a few days I received an email that said my payment was late and I needed to make a payment right away. I called XXXX XXXX and asked for the confirmation of the payment as well as the recording of the phone call I had XX/XX/XXXX around XXXX a.m. I was referred to the XXXX XXXX  where a woman confirmed the prior phone call. I asked her where my payment was she said, " they don't accept remittance payments '' but they also never sent any of them back to me. I have been sending payment every month since XXXX, they keep accepting them but not balancing out the ledger. I have asked them where are my coupons are and they seem to have " no idea ''. I have already notified them via certified letters, return receipt they are past the expected mail response time. Regardless of them refusing tendered payments, they still allowed fraud littered in this contract and as the victim and presumed XXXX in this contract, I am seeking remedy.

Company response to consumer: Closed with explanation