Vehicle loan or lease -- Problems at the end of the loan or lease -- Complaint #7349496
Complaint Overview
Complaint ID: 7349496
Company: Santander Holdings USA, INC.
Product: Vehicle loan or lease
Sub-Product: Lease
Issue: Problems at the end of the loan or lease
Sub-Issue: Problem while selling or giving up the vehicle
State: Connecticut
ZIP Code: 067XX
Date Received: 2023-08-03T12:00:00-05:00
Date Sent to Company: 2023-08-03T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
The leasing company is Chrysler Capital and my lease is about ready to terminate for my XXXX XXXX XXXX. With about 60 days to go - I made the decision to sell the car to a dealer if the offer I would receive would leave me with equity in the car. I secured an offer for {$38000.00} well above the ~ {$32000.00} I had left in the lease. As I moved through the process, it was required that that we secure a dealer payoff to provide XXXX with information on what needed to be paid off. Chrysler Capital refused to provide a dealer payoff saying- within 61 days of termination - there is not enough time to process all of that. I thought that was not true. They did offer to provide me with a " Customer Payoff '' which outlined what was left on the lease and the sales taxes of {$2000.00} that would have to be paid to close the lease if I was buying it. XXXX ( and every other dealer I talked to including XXXX ) said they would accept the customer payoff but they would have to pay the sales taxes and deduct it from the equity payout to me. That is not fair because Chrysler Capital said - once they are paid the amount from the dealer - there is no refund of the taxes to me even though a dealer bought the car ( which is a tax free transaction ). Given that receiving my equity for the car is basically an option that expires when the lease terminates or 30 days before - I had no choice but to let Chrysler Capital " hold me up '' for the sales taxes of {$2000.00}. My ask is that Chrysler Capital refund me the sales tax money because a dealer bought the car - not me. Their policy is not published on any of the statements I get and when do they think people start thinking about lease end ... .six months before? - no 60 days or less. I believe they know that and their beyond 61 day rule for a dealer payoff is a ploy to extract sales taxes as extra profit which should be against the law. Further, Chrysler Capital did reach out to me about lease end options finally in a letter dated 50 days before termination date... so how can do that when one of their options is contingent on a 61 day rule. Please take action to have my {$2000.00} returned to me. I am attaching my customer payoff letter, the letter I received from Chrysler Capital ( dated XX/XX/XXXX ) and a statement that verifies my acct and termination date... Thank you for your help in advance. XXXX XXXX
Frequently Asked Questions
What is Complaint #7349496 about?
Complaint #7349496 was filed against Santander Holdings USA, INC. regarding Vehicle loan or lease specifically about Problems at the end of the loan or lease. It was received by the CFPB on 2023-08-03T12:00:00-05:00.
How did Santander Holdings USA, INC. respond to this complaint?
The company responded with: "Closed with monetary relief". 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.