Same issue, had 2 loans with Santander. The last one I paid $38,000 total for a $18,000 loan, so there’s not much risk to them.
Just traded car in, Ford sold me a lemon. Went out of pocket for 2 transmission replacements, hired an attorney because Ford is not warrantying the vehicle and made an agreement with Santander to defer 2 months payment to the back of the loan so I could get car repaired AGAIN. Parked my car at work the day before it was going in for another transmission repair... Santander repo’d my car from private property with no warning.
Called Santander and they said it was a mistake in communication with their collections department and told me to go pick up my car at the tow yard for $720 the balance they were supposed to be deferring and they waived the repo fees. Made an appointment with the tow yard 32 miles away for the next day, since they were already closing. Arrived there with my payment and my car was already expedited to auction that morning at 5:00 am. Guess what, Santander claims it was yet another miscommunication with their reinstatement department.
Luckily I didn’t pay them over the phone the night before I went to get my vehicle or they would have kept my $720 and taken my vehicle. Received no info from them as to what auction it was sent to, my attorney contacted them and demanded that a litigation hold be placed on the vehicle and got a court order for the hold since it’s under lemon law litigation and then I received a letter from them 2 months later advising me they sold the vehicle and wanted me to pay $12,000, the same amount my loan was for the vehicle initially. I guess they will claim it was yet ANOTHER miscommunication with their Legal department this time.
Yet now they can go explain that to the Federal judge who issued the Hold order. NEVER take out a loan from this lender.
Product or Service Mentioned: Santander Consumer Usa Auto Loan.
Reason of review: Problems with payment.