Santander Consumer USA Holdings Inc Consumer Loan Complaint

Santander Consumer USA Holdings Inc Consumer Loan department,

Vehicle loan Managing the loan or lease South Dakota

We have an auto loan through Santander financing for our car. On - - our car was totaled out by hail. Our insurance company payout for the car did n't cover the entire amount of the loan. So they would not pay the loan off. Our insurance company offered us the option to buy our car back for 15 % of the value of our car before being totaled. Santander told the insurance company they could NOT let us buy the salvaged car and that Santander will be buying the car back from the insurance company. So my complaint is this.. How can a company not allow us to buy a salvaged car from the insurance company but is still saying we have to pay the loan off. I know full well they are going to take the car and sell it and NONE of that money will go to the loan.. How can a company basically steal a car like that from people?? Also if we have to pay the loan any way what does it matter if we buy the car or anyone else does? We still have to pay the loan. another thing Santander bought the salvage so that took $670.00 away from the amount of insurance money that would go to the loan. So they not only left us without our car they took $670.00 of the insurance money that should have gone to the car. I am at a loss as to how they can tell our insurance company who they can offer a buy back to. This company has screwed over a LOT of people and i have no idea how they are still in business. How can no one step in and put them out of business??? Can they really do this to us? If they are going to do this should n't they have - insurance on EVERY loan? We were NEVER offered it when we bought the car. Never even heard of it till we bought our pickup.