Vehicle loan or lease -- Managing the loan or lease -- Complaint #18994448
Complaint Overview
Complaint ID: 18994448
Company: Santander Holdings USA, INC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Billing problem
State: California
ZIP Code: 94577
Date Received: 2026-01-25T12:00:00-05:00
Date Sent to Company: 2026-01-25T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am filing a formal complaint regarding improper application of payments and incorrect interest accrual on my auto loan with Santander Consumer USA. After reviewing my full payment history, I discovered that multiple payments made between XXXX and XXXX including early payments and additional payments were not applied to principal. Instead, Santander treated these payments as advance payments while continuing to charge daily interest. During XXXX months in XXXX, my loan balance remained unchanged at {$12000.00} despite consistent monthly payments and extra payments, resulting in excessive and unjustified interest charges. Interest postings of {$17.00} continued even when payments were made early. Some lump-sum payments were partially applied to principal only when Santander chose to do so, while earlier payments were not, demonstrating inconsistent and improper payment allocation practices. I am requesting : A full transaction-level accounting showing how each payment was applied ( principal vs. interest ). Reallocation of all misapplied payments to principal. Recalculation and refund/credit of improperly charged interest. Written confirmation of the corrected balance. I have already submitted a written Notice of Error to Santander and am requesting regulatory review due to ongoing servicing issues.
Frequently Asked Questions
What is Complaint #18994448 about?
Complaint #18994448 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 2026-01-25T12:00:00-05:00.
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.