Consumer complaint received 2025-11-06 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: CA

Complaint narrative:
In XX/XX/XXXX, I obtained an auto loan through Santander Consumer USA for a XXXX XXXX XXXX ( XXXX XXXX ). The loan amount was approximately {$20000.00}, with a 29.75 % APR and a monthly payment of {$630.00}. The loan was arranged through the dealership under high-pressure circumstances, and the full interest rate and repayment terms were not clearly explained before signing. 

The financing was presented at XXXX XXXX XXXX under high-pressure and misleading circumstances. I was told this was the only approval available and that I needed to sign immediately to secure the vehicle. Details regarding rate & total repayment cost were not clearly disclosed before signing, and I was not provided with physical copies of the loan documents. Instead, the paperwork was later given to me on a thumb drive, which prevented me from reviewing the actual loan details prior to signing. 

When I later accessed the documents from the thumb drive, I discovered that the APR and monthly payments were excessively high and unaffordable based on my verified income. Since the loan began, I have experienced financial hardship and have contacted Santander Consumer USA multiple times to request refinancing, payment assistance, or modification. Despite these good-faith efforts, no help or adjustment has been provided. 

I have offered partial payments and communicated with representatives ' numerous times regarding the risk of repossession but was repeatedly told that theres nothing they can do and to pay as much as I can towards the loan. Despite several requests for refinancing, payment assistance, and modification due to financial hardship, I was offered only a temporary payment arrangement that failed to meaningfully reduce the principal or interest and merely deferred the subsequent payment. This lack of flexibility and refusal to assist demonstrates unfair and predatory lending behavior. 

As of XX/XX/XXXX, the account shows a past-due balance of {$1800.00} and an amount due of {$1900.00}, reflecting missed payments for XXXX, XXXX, and XX/XX/XXXX. These lending behaviors align with predatory subprime lending patterns, similar to those previously cited by the CFPB and state XXXX XXXX in enforcement actions against Santander. 

Additionally, I am a member of the XXXX military, which extends protections under the Servicemembers Civil Relief Act ( SCRA, 50 U.S.C. 3901 et seq. ). XXXX continued collection and repossession threats without offering fair review or relief may violate those federal protections, which prohibit excessive interest rates, repossession, or enforcement actions without proper notice or court authorization. 

I believe this loan was made without proper verification of my ability to repay and under deceptive and abusive conditions, violating the Truth in Lending Act ( TILA ) and Equal Credit Opportunity Act ( ECOA ). I am requesting that the CFPB investigate this loan for predatory lending and require Santander to provide full documentation of the loan underwriting and disclosures.

Company response to consumer: Closed with explanation