Consumer complaint received 2024-08-29 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:
On XX/XX/2024, I purchased a vehicle from XXXX TX, XXXX. During the transaction, several significant issues arose, leading me to believe the contract was executed under unfair and deceptive practices : Misrepresentation of Payment Terms : The down payment amount was discussed as being between {$2000.00} and {$4000.00} during text message exchanges with the sales representative. However, I was charged {$3000.00} at the point of sale, which was not clearly communicated beforehand. 
The monthly payment was vaguely described as a " low {$500.00} payment, '' but the final amount was {$460.00} for 72 months. The exact payment terms were not disclosed until the point of signing. 
Failure to Disclose Finance Charges and Use of High-Pressure Sales Tactics : The interest rate of 24.10 % and a total finance charge of {$15000.00} were not disclosed during the negotiation process. These terms were only revealed at the point of signing, where I was pressured to complete the paperwork quickly. 


The documents were signed late in the evening as the dealership was closing. The rapid succession of signatures, combined with the late hour, created a high-pressure environment in which I was not given sufficient time to review the terms thoroughly. 
Pre-Population of County Selection : The `` County of Title Issuance '' form was pre-populated with XXXX XXXX without my input. I was not given the opportunity to select the appropriate county for title issuance, which is required by law. 
Unjustifiable Denial of Credit and Predatory Lending Practices : Violation : The high-pressure tactics used to finalize the contract and the lack of transparency about the finance charges and terms may indicate predatory lending practices. 

Applicable Law : Texas Predatory Lending Law, Texas Business and Commerce Code 2.302, and the Uniform Commercial Code ( UCC ) require transparency and fairness in all credit transactions. Contracts signed under duress or under deceptive practices are voidable under Texas law. 

Undisclosed Additional Charges : Charges for a Service Contract ( {$2200.00} ) and Appearance Protection ( {$640.00} ) were added to the final amount financed without proper disclosure or my explicit consent. 
Excessive and Undisclosed Documentary Fee : A documentary fee of {$150.00} was included in the transaction without clear disclosure. 
Due to these issues, the contract was executed in violation of federal and Texas state laws, including the Texas Deceptive Trade Practices Act ( DTPA ) and the Truth in Lending Act ( TILA ). I am seeking the rescission of the contract, a refund of my {$3000.00} down payment, and the removal of charges related to the additional products. 

These practices have caused significant distress, and I request prompt resolution to avoid further action. Due to the excessively high interest rate of 24.10 %, I am unable to afford the monthly car payments. This financial burden has also led to my denial of employment opportunities, further exacerbating the situation.

Company response to consumer: Closed with explanation