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I have had my loan with Santander since 2009. Since then, I've been laid off twice but still managed to pay them sometimes 60 days late but I paid them. Two weeks ago I was informed that my loan which was supposed to be paid off this August, still had a balance of 7000.00 (after 7 years!) and I had 18 more months to pay. After numerous calls and complaints, I was told by a supervisor that Santander has made over 17,000 in interest alone from my original $13,000 loan! She explained that when I contacted them for deferrments in the past, I was not only paying interest on the past due amount, but also the regular interest, and the deferred payments as well. Here is the worst part, all of my payments in this last year that my car was to be paid, went to interest.

She went on to explain that Santander gives you the impression that they are being helpful but they only making more money. She stated that the reps are not obligated to state how being late, accepting deferments or making partial payments will continue to cost the unsuspecting consumer and purposely do not explain this in layman' terms to help the unsuspecting consumer make an educated and informed decision.

After reviewing my account she informed that my vehicle was currently in charged off status! A car loan goes into charge off status when the account is 180 days past due, mine was 60days! She could not explain why and old me that Santander had been looking for my car but since I'd made those two payments, the car was fine but would remain in that status as my account was now current. It gets worse.

I complained to Santander in writing and received a call from the Presidents Office where I spoke with LeAndre'. This man informs me, at the end of our useless conversation that due to an audit on my account, it was now 84 days past due versus current, as it was improperly aged. So now, I owe 84 days interest plus the car payment and any payment that I make will go towards interest versus the loan, roughly 1200.00. I pleaded with this person to cancel the loan as the car has already been paid for. He said that he could not help me because of the charge off...... That they placed on the car.

I feel hopeless and do not want to pay anymore money on this vehicle, so I filed bankruptcy and will still have to surrender my car.

SANTANDER CONSUMER USA are thieves! They take advantage of the unsuspecting consumer. I am thankful for the supervisor who was bold enough to share, knowing the conversation was recorded. As a last ditch effort, she even suggested that I stop paying and just hide the car.

Even their own employees feel guilty about Santanders unethical practices.

This person wrote the review because of "loss a credit/ unethical practices" at Santander Consumer Usa. Reviewer claimed that he or she lost $7000 and wants Santander Consumer Usa to "adjust the balance to honor the payoff that the service rep promised and remove the charge off from my credit".

The most disappointing in user's experience was deceptive loan practices, unwarranted charge off and only care about companys bottomline. The author asks this business to immediately contact him/ her to briefly discuss his/ her negative experience with the company.

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And why can't you understand that sometimes life happens? She said she was laid off twice!

That is not her fault.

She talked to them and tried her best to work things out.


Oh poor don't want to pay any more. Isn't that a shame!

The TRUTH is whenever you are late YOU generate extra interest for THEM, just as that person told you. Secondly, and this is the really funny part...ALL car loans, just like real estate loans call for interest to be paid down first.

Its called "amortization" and is standard practice in finance! Of course, if YOU wouldn't have destroyed your credit, you would have been able to obtain low rate bank financing.


How about your unethical practices? You signed an agreement to pay on time and did not.

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