I currently have auto loan with Santander and have been paying Santander since March 2007 when they took over my loan from Citi-Financial.I paid Citi for a year and prior to that I paid the dealership where I purchased the car in 2004 for a year.

I have been paying on this car for 6 years and my maturity date was 2/2012. I have had 4 deferred payments, and was told I still owe over $5,000.

I have called several times requesting detailed information on where this balance is coming from to no availibility?Please Help?

Review about: Santander Consumer Usa Loan.


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What sorry deadbeats don't and won't understand is EVERYTIME you pay late, YOU generate extra interest for them.It's all very simple and covered in your contract and its normal with any lender.

So instead of you serial deadbeats whine about a class action suit which completely shows your ignorance of the matter, just pay your bills on time...which is exactly what you promised to do when they were nice enough to find your loan.Oh yes, don't bother...I don't work for them.


can I get a loan to buy a sofa for $2500.00. I have bad credit but I will pay it off in less than a year.


I purchased a used 2006 car with citi finacial as my loan company before they were bought out.Till this day i'm still paying for it.

Santander is telling me that i still owe over $3,000 on my car and i had since 09. Someone really needs get a lawsuit against these people for ripping everyone off. A lot of company's have grace periods!!! Tell me why they don't????!!!!

This is a total rip off and my maturity date suppose to been 3/18/14, but now since i had 3 deferred payments my maturity date is 6/18/14 with $3,000 still owe on my car.Really?????

San Luis Obispo, California, United States #634834

My original loan was HSBC.I was not aware they were bought out due to I continued to receive statements & paid them on time to HSBC.

One morning in 2008 my car was gone...repossessed by Santander stating none payment (at this time I had not received any correspondence/statements from Santander). I contacted HSBC & that is when I found out that Santander now had the loan. I contacted Santander & they would not speak to me regarding details until I paid the $2400.00 they said I was behind. I paid the money and got my car back.

The same day I got my car I faxed to Santander all verifying bank statements & checks proving that I had paid HSBC. The money was then refunded back to me by Santander with just a verbal apology & statement of 'during buy outs some mistakes are made'. Since June of 2008 my car payment has not been late. A few times the payment would be received within the 10 day grace period, but NEVER after that date.

My maturity date was March 2013 & they say I still owe $2400.00...what a concidence that is the exact amount they refunded. I have spoken to several people at Santander and I am told it is 'simple interest accured on those payments that was received during the grace period'. I have bought & paid off several cars during my life time and this is the first time I have ever came across this. Pulled my credit report & no late payments have been noted by Santander.

I am trying to contact an attorney..but not much help yet.Any suggestions?


My husband and I have a car loan with Santander.It was also a loan that we signed with Citi Financial Auto.

Our maturity day is September 2013. They are stating we owe almost $10,000 on our loan wich would make it impossible to pay off by the maturity date. They say its interest. We asked them to email as well as mail a detailed amortization of all of our payments, etc.

I recieved it yesterday. What I found is that we have over paid almost $4,000 in interest. When I subtracted that from the total balance owed it is exactly what we know we owe on the car. To the penny!

Everyone, check to see if you have over paid on your interest!We will be contacting accounting on Monday as well as filing a formal complaint with the FTC so this stops for anyone else that has a loan with this crooked company.

to DidMyOwnAccounting Tampa, Florida, United States #620665

I just found out they did the same to me.

to DidMyOwnAccounting Brooklyn, New York, United States #792373



You people are way too ignorant.I bet every single one of you have either late payments,due date changes, deferments, reduction in payments, or all of the above.

Read your contract. Your attorneys cant do a d*** thing because you signed a contract you didnt understand because you wanted that vehicle so bad. If you have 3 months of deferments, you WILL pay an extra 90 days of interest before anything else goes towards principal. Your contracts are being automatically extended because you cant stay current, and your paying late, or getting deferments.

Lets say your payment is 300. You have a per diem of 3 dollars. (3 bucks per day). You just made your payment 10 days late.

Your paying the 30 days since your last payment PLUS an additional 10 days since you were late. Thats an additional 30 bucks you wont have towards your principal just for those 10 days alone you paid late. Interest accrues every day between payments. PERIOD.

paid 32,000 on your vehicle and it said on your contract 32,000 is what you will pay in the end but you got 10k left?

Want to know whats going on? wow mr consumer, you were over 90 days late 4 times, over 60 days late 8 times, and over 30 days 14 times. Oh, and you have 4-8 deferments that (they graciously helped you with) accrued additional interest.

its in your contract.None of you have an argument, and your lawyers are in stalemate.

to Theunderstanding Overland Park, Kansas, United States #619356

I'm in the same position with a different company.I disagree with the tone of your letter because I sympathize with those who made bad choices, and most of them were unaware of the great significance of it all, such as myself.

However, I do appreciate how you broke this all down, and explained how these companies play on the financially and mathmatcally challenged population. I'm not even sure how to get out of such a mess without accumulating a large sum of money to just pay the financing company off. I'm seriously considering trying to buy a used car under better terms and letting my current car go back voluntarily. But it breaks my heart that I've been trying so hard to do right, re-establish credit, and now I will be right back where I started.

At 43, I'm too old for this.

But another life lesson learned.Thank you for the finance lesson.

to essence350 Arlington, Texas, United States #670901

Try an amoritization schedule on-line. You can see that if you pay on time every month, you will owe the amount defined in your contract.

Now try it with making payments late. It changes the allocation of your montly payment toward Interest first then prinicple, then fees. The more you are late the more money that is applied to interest instead of principle.

The government has defined the rules for this in a law called Reg Z. You have no recourse only bad credit

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