Vehicle loan or lease -- Getting a loan or lease -- Complaint #6332791
Complaint Overview
Complaint ID: 6332791
Company: Santander Holdings USA, INC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Getting a loan or lease
Sub-Issue: Fraudulent loan
State: South Carolina
ZIP Code: 299XX
Date Received: 2022-12-17T12:00:00-05:00
Date Sent to Company: 2022-12-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am being charged insurance on my vehicle outside of the finance charge, my interest rate is 3 % higher than the average on my loan. I am currently paying for insurance on a financed vehicle out of pocket. USC 15 section 1605 ( c ) states ; charges or premiums for insurance, written in connection with any consumer credit transaction, against loss of or damage to property or against liability arising out of the ownership and use of property, shall be included in the finance charge unless a clear and specific statement in writing is furnished by the creditor to the person to whom the credit is extended setting forth the cost of the insurance if obtained from or through the creditor, and stating that the person to whom the credit is extended may choose the person through which the insurance is to be obtained.
Frequently Asked Questions
What is Complaint #6332791 about?
Complaint #6332791 was filed against Santander Holdings USA, INC. regarding Vehicle loan or lease specifically about Getting a loan or lease. It was received by the CFPB on 2022-12-17T12:00:00-05:00.
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.