Vehicle loan or lease -- Managing the loan or lease -- Complaint #13927149
Complaint Overview
Complaint ID: 13927149
Company: Santander Holdings USA, INC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Problem with the interest rate
State: California
ZIP Code: 90220
Date Received: 2025-06-05T12:00:00-05:00
Date Sent to Company: 2025-06-05T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In XX/XX/XXXX, I purchased a XXXX XXXX XXXX from XXXX XXXX XXXX XXXX XXXX. The sale price was around {$24000.00}. I put down a {$3000.00} cash payment at the time of purchase and have since paid over {$14000.00} through monthly payments of {$790.00}. Despite this, I still owe {$26000.00}, and the car is currently only worth about {$24000.00} based on market valuation sites. At the time of purchase, I was enrolled in trade school and had no verifiable income. Despite that, I was approved for the loan. I was never clearly informed of the interest rate, and after reviewing the loan performance, it appears the majority of my payments have gone toward interest and fees, not reducing the principal. I now believe this loan may be predatory in nature. I have asked the lender and dealership for a breakdown of how my payments are being applied, the interest rate, and whether there were any additional fees or products included without my knowledge. I have not received clear or helpful answers. I am requesting a full investigation into whether unfair, deceptive, or predatory lending practices were involved, including failure to verify my ability to repay, lack of proper disclosure, and inclusion of excessive interest or hidden charges. This situation has caused serious financial harm and I am seeking relief.
Frequently Asked Questions
What is Complaint #13927149 about?
Complaint #13927149 was filed against Santander Holdings USA, INC. regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2025-06-05T12:00:00-05:00.
How did Santander Holdings USA, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Santander Holdings USA, INC.?
Yes, visit the Santander Holdings USA, INC. company profile at readthecomplaint.com/company/santander-holdings-usa-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.