Consumer complaint received 2025-06-12 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Company explaining amount owed
Company: SANTANDER HOLDINGS USA, INC.
State: NY

Complaint narrative:
To Whom It XXXX Concern, My name is XXXX XXXX XXXX XXXX, and I am filing this complaint regarding a fraudulent auto loan transaction and unresolved issues involving Santander Consumer USA. 

On XX/XX/XXXX, I entered into a financing agreement with Santander through a dealership that has since gone out of business. At the time of purchase, I traded in a XXXX worth over {$30000.00}, while the outstanding loan on that XXXX was only {$20000.00}. That left a balance of {$10000.00}, which I used toward the purchase of a XXXX XXXX from the dealer. 

In addition to the {$10000.00}, the dealership also requested I bring in an additional {$7000.00} in cash in order to get approved for the financing. I complied with that request. However, once I received the contract in the mail and reviewed it, several red flags stood out most notably, an XXXX of 17 %, which I later discovered violates New York XXXX XXXX limits for auto loans. 

Immediately after reviewing the contract, I returned to the dealership to address the issue only to find the dealership had been shut down and was no longer in operation. I then contacted Santander Consumer USA directly to explain the situation. Their response was that the issue was solely between myself and the dealership, despite Santander being the lender listed on the contract and having approved the financing terms. 

I informed Santander that I would not continue making payments unless a solution was offered. For nearly XXXX years, I received no further outreach or effort to resolve the issue from Santander. Then, without warning, the vehicle which had been towed and stored in a pound was picked up by Santander. I was told the vehicle was in poor condition and was being repaired in preparation for resale. I was never contacted, nor was I given the opportunity to reclaim the vehicle or negotiate a resolution. 

To add to this, within just XXXX days of purchasing the XXXX, the brakes failed and the engine began to shut down. While the car initially appeared to be in good condition, it quickly became unsafe and unreliable. Over time, I was forced to invest more than {$17000.00} of my own money into repairs just to keep the car on XXXX XXXX. I provided Santander with all supporting documentation and repair invoices yet they never responded. 

Every time I call, Santander insists that the problem lies with the dealership which no longer exists and claims they bear no responsibility. This is unacceptable. Santander approved a predatory contract, ignored clear signs of fraud, and failed to assist a customer in resolving a serious financial and legal issue. 

This situation has caused significant financial hardship and emotional stress. I am requesting that the Consumer Financial Protection Bureau investigate this matter thoroughly, and that appropriate action be taken against Santander Consumer USA for : Approving and enforcing an auto loan with an XXXX that exceeds New York XXXX legal limits Failing to assist in resolving a transaction that involved fraud and misconduct Refusing to acknowledge or respond to over {$17000.00} in documented repair expenses Repossessing the vehicle without notice or offering the chance to reclaim or renegotiate Mishandling communication and providing no consumer support for nearly XXXX years I also later discovered that {$4500.00} of the financing was applied toward a QualityGuard+Plus warranty, which I did not knowingly authorize and never received any benefit from. 

Ive also uploaded both contracts for review. The vehicle was originally listed at {$32000.00}, yet somehow the final total came out to over {$72000.00} which makes absolutely no sense and raises serious concerns about how the financing was structured. 

All documentation, including receipts, timelines, and communications, is available upon request. I ask that this case be treated with urgency, and that steps be taken to ensure no other consumer is subjected to a similar situation. 

Sincerely, XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation