Consumer complaint received 2025-02-09 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Credit denial
Company: SANTANDER HOLDINGS USA, INC.
State: NH

Complaint narrative:
In XX/XX/XXXX, I traded in a XXXX XXXX XXXX with only XXXX miles on it and excellent condition due to monthly payments were too high. i needed lower payments. So i found online XXXX XXXX XXXX XXXX with XXXX miles for $ XXXX hoping my payments would go down. XXXX XXXX paid off my car i traded in which was $ XXXX, they literally handed the check to XXXX in XXXX with paid in full receipt. But they added {$4000.00} into my new loan stating that XXXX would give me $ XXXX for the trade of my XXXX. ( During COVID ) I didnt understand how that would be legal. Also due to my credit score, year of the XXXX and miles most banks want down payments to lower monthly payments but I didnt have that so he was working really hard to get me in this vehicle. He said term of loan is 5 years, not what i expected but I said ok. 
So XXXX XXXX XXXX for $ XXXX and rolling in $ XXXX that I owe XXXX so it goes into my new loan which isnt even with XXXX, its with another bank. My payment went from XXXX ( XXXX XXXX ) to XXXX ( XXXX XXXX ) for 7 years and I was told in order to get the loan, i had to get their extended warranty which I later found out they lied and i canceled it a year later but I started getting letters in the mail after i got the loan and my vehicle- banks including their own bank and my current bank which I have the loan through currently stating that i am denied for the loan. These were loan applications processed by the company to banks after i had signed documents and had the vehicle registered and made first payments on it - I was confused so i asked and they said that the rep was no longer working there. Also on my loan i currently have now, i had noticed that it stated it was a lease and a loan ( which how can i be leasing the vehicle if I got a loan for purchasing ) and I was told it was a easy fix by dealership. I am not only upside down by $ XXXX but my payments are insane plus how is any of this legal? I also was in the middle of XXXX when I was trying to do the application online at the time he was trying to get me financed but I wasnt coherent enough so the sales rep offered to fill it out for me and have everything processed for me when I was done my treatment which is another problem because I told him that i have XXXX XXXX XXXX XXXX XXXX so I am often overwhelmed and confused but he assured me that he would never take advantage of anyone especially someone who is XXXX. I trusted him and the company and after my boyfriend looked at my paperwork and the letters I was getting weeks to few months later he said that I needed to find out what is going on. I was told simple errors that wont effect my loan or credit score and I just noticed that my loan is for 7 years which is insane because between principal and interest rate i will be paying almost XXXX for this vehicle with no warranty coverage because i cancelled the one they forced me to buy and paid another company for coverage which i could use but I cant afford to get another warranty due to income as i am permently XXXX and i have bought vehicles in the past. All i wanted was something used to bring down payments, but I know everything about XXXX vehicles since I have owned them since XXXX XXXX XXXX. But I am declining in my health and my sister told me that I needed to report this today because she knows that once i send this, I will not remember as I have early XXXX XXXXXXXX. Please if you can help me and others by looking into this. Thank you. I can send you letters and copies of everything if you need them of the denying loans after purchase agreement was made and sold to me by representative.

Company response to consumer: Closed with explanation