I originally had my vehicle financed through Citifinanicial who for whatever reason gave the account to Santander.

I was estimated to be through paying off the vehicle 3/12 of this year, NOW! I realize I have an additional $5K adding to my balance pushing my pay off to 2013...WTF?!?!?

When contacted Santander they stated additional fees were added but didnt explain what kind. I attempted to make further contact to inquire via phone and certified letter and never recieved a response Im currently seeking counsel for some HELP. If anybody else have any ideas please fill me in on what I can do further.

Thanks

12a7004



  Comments (4)
1. Written by Answer on February 5, 2012 from charlotte, north carolina, US
If you were late you accrue interest charges even at 1 day late. A subprime loan carries a high per diem interest rate, u could be paying up to $10-$14 dollars per day every time you are late. Also, if you have had any deferments, those go to the back end of the loan and each month accrues interest for every day+30 days.
2. Written by Carol on January 30, 2012 from dallas, texas, US
I too have same problem with Santander - my total costs of interest was to be 5600 - I have 17 months to go and have already paid 5300 in interest. They continue to take 70 of the 287 for interest. I will pay well over the 5600 contract amount and no one will tell me why I am being charged so much just that if I am one day late it costs me 24 dollars - how is that. If anyone gets an attorney in Texas taking these cases let me know who they are. I wanted to just pay off the loan but would be 1100 more than contract amount and now I am stuck with them for 17 more months
3. Written by SassyisTicked on January 30, 2012 from charlotte, north carolina, US
I just read your post, a have been going throught the same thing with them as well. My orginal loan with Citi had matured in 1-2011. I continued to pay even after that because Santander told me I had too. When I refused to sign another contract with them,they sent a repo company to get my car. They then told me that even tho I'd still been making the contract payments, I would need to sign another contract with them to get my car back. I faxed back the paper work, they didnt tell me where my car was for 4 days. The contract with them ended on 1-2012, now they are saying OI owe another $1200. Is this legal and do we the consumer have anytype of protection??
4. Written by kims on January 30, 2012 from fountain city, wisconsin, US
I recently reported on a different post in a comment about my dilemma?. So to spare from repeating myself I will just tell you an update;. I am pleased to report that the refinancing for my car went through at my own bank, in the end my brother had to put his car up as collateral and cosigned but we got ourselves out of the loan at Santander;. I encourage anyone who has a loan with Santander to see if you can refinance at your own bank that you trust?. I have also warned my bank that Santander is shady and facing lawsuits and to be sure they mark the payment as in full when they pay them off and to make sure absolutely sure they are off my car title". I now have a refinance through my bank of $194 payments each month for 4 yrs, compared to the 2 1/2 years I had left on the Santander loan at $298?.42 each month:. Putting $104 back into my pocket each month that I need for living expenses, and the interest rates were lower because I now qualify for lower interest rates:. Please see if you can refinance at your own bank, it is worth the trouble.

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