Consumer complaint received 2025-08-04 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Changes in terms mid-deal or after closing
Company: SANTANDER HOLDINGS USA, INC.
State: MO

Complaint narrative:
On XXXX XXXX  i applied for credit for a car loan at XXXX XXXX XXXX of XXXXXXXX XXXX. i was helped by a man named XXXX XXXX. He took my drivers license and was asking me questions while typing my information into his computer. When he was done with the questions he had me sign an e pad. The day and experience was extremely overwhelming and chaotic. I left that day with my vehicle registration and application for license. I was told that because it was so later in the day that my contracts would be reviewed the next morning and sent to me in the mail. I assumed that was the normal process as Ive never purchased from a car dealership before or even been able to get a loan from a bank. After a week, i contacted the dealership and was told my documents would be on the way. This happened a number of times and i never recieved my paperwork. In XX/XX/XXXX, the dealership was shut down in 3 states and accusations of forgery were made. My loan payments were supposed to be {$520.00} a month with a 12-15 % interest rate. Theyve never been that. They are {$710.00} a month with a 28.10 % interest rate for 72 mos. I was told my credit wasnt that great and as long as i made on time payments of {$710.00} a month for a year i would be able to come back in and Me refinanced and have my loan lowered. It was all just very confusing. At the time of my application i was making {$14.00} an hour. Its been 33 mos and Im current on the loan but its {$20.00} less than my home mortgage now. Im embarrassed to admit that i was very naive and taken advantage of by both XXXX XXXX and also Santander consumer usa who is The servicer of my loan. Ive very recently been able to obtain the copy of my purchase agreement and also my credit application. Im very concerned as to whats on them. My mortgage amount isnt included on the credit app, yet i told XXXX when he asked me, that Ive had a mortgage since XXXX and it was {$490.00}. ( At that time ). My email isnt included on the credit app, Ive had that same email for at least 10 yrs. My drivers license number isnt on there either and he had it right in front of him. I believe he deliberately failed to enter my mortgage payment on the credit application in order to get me a higher loan, and purposely didnt give or send my loan agreements to me because i would have definitely seen the mistake and demanded an investigation as to why he omitted a very significant financial factor on my application. Im embarrassed to say its taken me awhile to figure out whats going on and trying to find out who to turn to for help is also proving to be extremely difficult. Im scared I may have to file bankruptcy because i cant afford to keep up with this loan!! Santander doesnt refinance and Im upside down twice in this car! Ive paid {$23000.00} for a used XXXX XXXX XXXX and i still owe {$21000.00}. The loan was for $ XXXXThe finance charges are {$27000.00}!!! These numbers arent exact but i can get the exact numbers upon your request. Ive also discovered Santander was sued for {$550.00} XXXX just 2 yrs before i got my loan by 32 state atty generals for doing exactly whats happening to me!! I believe Ive been a victim of both predatory lending from Santander consumer usa and also a victim of fraud from XXXX XXXX at the dealership. It was the perfect marriage for both companies and im the one left facing financial devastation over this loan!! {$54000.00} for a 4 cyl used XXXX with no bells and whistles! That was worth, at best, {$12000.00} at time of sale!! Its insulting actually. And scary. Ive had to work out of state, driving back and forth every day at my new job to pay my bills and keep this loan current. Ive worked soo hard to build my credit and do the right thing. Im not a liar, thief or criminal. Im not trying to get out of a legitimate debt because its hard. Im just a single income blue collar mama who just wants to pay her bills, build her credit and enjoy my retirement thats just a decade or so away. And with me just now seeing my loan agreements, this isnt legitimate!! Please help me figure out whats going on and point me in the right direction as to how to correct this mess!! Ive filed complaints with the Mo Atty General office, FTC, Dept of Revenue and Ive sought out attorneys with no luck so far. Meanwhile Im still paying the {$710.00} loan in order to avoid any negative marks on my credit. But the loan itself isnt helping my score. Im terrified as winters approaching fast and with my line of work Im usually on UE thru winter, causing me to fall behind on most everything. Ive been late on my mortgage in order to make these car payments!! Ive read stories about Santander being retaliatory when reported, however much truth there is to that, i dont know. But i dont want to find out. I just want whats right and fair to be done and move on from this.

Company response to consumer: Closed with explanation