Date Received: 2018-03-04
Issue: Managing the loan or lease
Subissue: Problem with the interest rate
Consumer Complaint: My husband and I bought a XXXX XXXX XXXX from XXXX XXXX in XXXX, XXXX, in XX/XX/XXXX. We were financed by Santander Consumer, USA. We recently went to a car dealership ( XX/XX/XXXX ), hoping to either refinance our vehicle or be placed in another vehicle because we were making steps to clear up our credit. The manager from the car dealership ( XXXX XXXX XXXX ) came out to speak to us, which I thought was strange. He stated how out of all the years selling cars, he had never seen anything like what he was seeing with our loan from Santander. Our payoff amount is {$22000.00}. We purchased the vehicle ( 3 1/2 years ago ) in which our loan was approx {$23000.00}. Unbeknownst to us the 39 payments that we made from the beginning of the loan, approx {$18000.00}, went solely to interest and only less than {$500.00} went towards the principle of the loan. We spoke with a manager from Santander, XXXX XXXX ( ID # XXXX ) who told us that our contract has a simple interest rate loan, where we pay an enormous amount of interest each day our loan is late. Yes, we have been late in the past. However, within the last 12 months, we worked consistently on our payment, making sure nothing hit our credit. We were never late past the 30 days. We feel like we have been XXXX, manipulated. Yes, we might have been ignorant in going into this contract with Santander. Having a loan for almost 4 years, yes late many times, yes we put some payments towards the end of the loan, BUT $ XXXX WOW!! That's a lot of money, especially when 82 % percent of the payment goes to interest, leaving only {$160.00} going towards principle. Very upsetting and frustrating especially when we are at the verge of getting approved for a loan for our house and the only hardship is now that of this vehicle. Is there anything that can be done? Please help and/or assist us regarding this matter.
Company Response:
State: OH
Zip: 44124
Submitted Via: Web
Date Sent: 2018-03-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-02
Issue: Managing the loan or lease
Subissue: Problem with the interest rate
Consumer Complaint: The interest rate santander charge my car was priced @ {$17000.00} the interest rate is {$20000.00} leaving me to pay {$37000.00} on a used car
Company Response:
State: CA
Zip: 92551
Submitted Via: Web
Date Sent: 2018-03-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-02
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: I filed a complaint on XX/XX/XXXX in response to a missing on-going extra payment we've been making to reduce Santander 's high interest rate. This has been going on since XXXX. We have been told that they are " escalating the issue ''. Unfortunately, there have been no follow-up calls as promised until today XX/XX/XXXX. I returned the call 60 seconds after it came in. After holding for an extended period of time, I received a voice message that the office was closed. This occurred 3 times -- before closing time. I called the general number. The individual saw who called me and indicated that he was unable to put the call through to the person because " the system wouldn't let him ''.
Company Response:
State: PA
Zip: 19148
Submitted Via: Web
Date Sent: 2018-03-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-01
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: Complaint number XXXX - Santander is absolutely lying and the CFPB has absolutely done nothing to help. First of all, the information in their response has nothing to do with the complaint, or very little ... THEY ARE ONLY REPORTING NEGATIVE INFORMATION WHICH IS ILLEGAL AND THE STATUS OF THE ACCOUNT IS INCORRECT! My credit reports show an open account with ONLY NEGATIVE REMARKS. Here is a confirmation number from an unanswered dispute/investigation from XX/XX/2017. XXXX. This dispute/investigation has yet to be answered by them and simply because of this, the account and its remarks need to be removed from my reports. The account is not open, and they can not ONLY REPORT NEGATIVE INFORMATION. IT IS A VIOLATION OF THE FCRA.
Company Response:
State: OR
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-03-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-01
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I sent a letter of Validation on XX/XX/XXXX I have not received any response from this company. I have attached the certified letter that they received on XX/XX/XXXX. I also fax and e-mailed this company the same letter that is attached with still no response. This company should not be allowed to report information on my husband and my credit that has not been validated.
Company Response:
State: NC
Zip: 28358
Submitted Via: Web
Date Sent: 2018-03-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-01
Issue: Struggling to pay your loan
Subissue: Loan balance remaining after the vehicle is repossessed and sold
Consumer Complaint: On XX/XX/XXXX I contacted Santander regarding the XXXX XXXX XXXX which was repossessed on XX/XX/XXXX spoke with XXXX, a Supervisor from Santander. XXXX advised me that the vehicle was sold on XX/XX/XXXX in the amount of {$11000.00} at a private auction. I proceeded to inquire about my personal belonging, I made several attempts to XXXX XXXX to recover my things no one never called me back. XXXX assured me that he will call XXXX XXXX and conference me in due to the extreme hold time in regards to my personal items. I never received a call back. The next day I wrote a letter which was sent via email and mail to Santander regarding how the repossession was handled and how I was never contacted by them or notified of the sale and that this is a violation of Georgia state law. As of today I only received a generic system generated email.
Company Response:
State: GA
Zip: 30043
Submitted Via: Web
Date Sent: 2018-03-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-01
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: I tried to get a new car XX/XX/XXXX and XX/XX/XXXX. Was informed the auto loan I have been paying on since XX/XX/XXXX has not went down and is actually more money then I originally leased for. I was financed for {$10000.00} with an interest of 23.81 % according to the documents I have. I have been paying {$280.00} -XXXX every month and now the total due is owe {$11000.00}. This car will never be paid and I discovered interest is accured daily at the 23.81 % rate. I spoke to a customer service agent who said the car is owed {$11000.00}. The car was a {$10000.00}. The company has over 1400 complaints online for the same issues. To add this, the company is reporting to the credit companies and it looks like I am making payments on a revovling account instead of a fixed loan. I have all the documents and credit reports. I will have to scan the additional documents.
Company Response:
State: FL
Zip: 33771
Submitted Via: Web
Date Sent: 2018-03-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-28
Issue: Struggling to pay your loan
Subissue: Lender trying to repossess or disable the vehicle
Consumer Complaint: This vehicle is currently with the co signer. Company did have my information but made zero attempt to me the primary owner, that the co signer XXXX XXXX was not paying the vehicle. I started to notice a pattern of alerts that my credit score was dropping at a high rate and was wondering why, since my payments were on time. I checked with XXXX XXXX and noticed that they repossessed the vehicle, with no attempt to contact me. The vehicle was payed again and payments were caught up Anytime this account was in delinquency do to the co owner I corrected it immediately. This account is in a charge off state, but payments were current. I request XXXX XXXX make fair changes to my account and put it back as an active account with them and take any delinquencies of my credit reports
Company Response:
State: NM
Zip: 87114
Submitted Via: Web
Date Sent: 2018-02-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-28
Issue: Struggling to pay your loan
Subissue: Loan balance remaining after the vehicle is repossessed and sold
Consumer Complaint: I went to XXXX XXXX downtown to trade my car in and purchase a new vehicle..While under the impression my car was being traded in, i found out i now have 2 car loans on my credit..Now that the new car is repossessed, I'm having a hard time trying to get my credit fixed when i told the manager that i was under the impression that it was a trade in.. I feel this is fraudulent
Company Response:
State: AL
Zip: 35215
Submitted Via: Web
Date Sent: 2018-02-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-28
Issue: Threatened to contact someone or share information improperly
Subissue: Contacted your employer
Consumer Complaint: I purchased this vehicle at a desperate time. Santander approved the loan which was considered a bad loan ( See XXXX million settlement information for Massachusetts ). I got to a point where i could no longer pay for the very high vehicle payment ( {$550.00} ) interest rate of 21 %. The vehicle got repossed two times. i will include why they violated all of my rights and didnt follow the law. 1. When i was late on the payment they were very aggressive on the phone with me and threatened me with repossession and yelled at me. 2. called my employer, requested a supervisor and told my supervisor i was late on my car payment and that i needed to make a payment. Gave him details of my account. days i was late and amounts. 3. I didnt receive notices prior and right before the repossession. 4. the car was repossessed from my long shared driveway. my car was all the way at the end of the driveway. it is shared by 2 houses with one of them being condominiums and owned by 4 owners. Not in a public way and didnt get permission from anyone to go in the driveway. This is against the law. 5. on the repossession mentioned above. it was conducted at XXXX. I only know this because the repo man knocked on my door, rang the bell and woke me up. totally disturbed my peace and my neighbors who all woke up. He showed me the order from santander for repossession. 6. I received the vehicle after paying crazy fees. when the vehicle was taken it was damaged and also involved in a hit and run. i got a check from the insurance to repair it. 7. i continued to struggles with backed up payments. the repair check was sent to santander. i called and told them i planned to return the vehicle but wanted it fixed first prior to selling it at auction. 8. I took the vehicle to an autobody shop. he could not get the check from santander who refuse to release it. Eventhough the check was from my car insurance that i paid for and had every right of the check. 9. Santander once again violated more rules and repossessed the vehicle from the auto body shop. talked to the owner and he said they never released the check and they showed up in the morning and took the vehicle. 10. the car was never repaired as requested by the insurance. the vehicle was sold at auction damaged and i never received any notice of the sale or anything. the insurance check is still unknown what happened to it. they cashed it? spend it on gifts? i dont know. 11. Santander is still haunting me. i cant purchase a home for my family and live in a tiny apartment because they destroyed my credit.
Company Response:
State: MA
Zip: 020XX
Submitted Via: Web
Date Sent: 2018-02-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A