Santander Consumer USA Holdings Inc Consumer Loan Complaint

Santander Consumer USA Holdings Inc Consumer Loan department,

Vehicle loan Problems when you are unable to pay Missouri

Re : Santander Consumer Finance Since purchasing a - GMC Envoy from Santander Consumer Finance 's Road Loans in - -, Santander 's records document 33 payments received on the account totaling $9600.00, and only $1300.00, or four partial payment amounts, were applied to the principal. I did not understand or believe it is legal to offer interest only loans. This loan forces me into a perpetual cycle of debt that I can not afford to continue. I am - years old and no longer able to drive the vehicle or pay it off. The vehicle can not be sold because the current value is approximately $2500.00 and the balance is over $12000.00. The original purchase price was $12000.00 with an interest rate of 26.29 %. I notified Santander in writing on -/-/- of my wishes to voluntarily surrender the vehicle, provided an address for them to have the car picked up, and gave them contact information for my daughter so they can retrieve it. Santander has not contacted my daughter to pick up the vehicle per my request. My daughter also contacted Santander on my behalf to ask that they pick up the car and she provided the address


I would like the CFPB to : 1. Assist my daughter with surrendering the car to Santander. 2. Investigate my complaint and notify me to confirm that interest only loans are legal. 3. Provide me with my options to dispute Santander 's practice in my case. Thank you.