Exeter Finance: Things You Should Know Before Applying For An Auto Loan


Exeter Finance is a renowned automobile loan provider that can help you buy the dream car or bike you have always wanted. Established in 2006, this financial company has been one of the leading auto loan providers in the USA. They have been praised for linking dealerships with customers and setting up loans easier than other companies.

Exeter Finance is a renowned automobile loan provider

If you wish to apply for a loan from this company, there are many steps you need to follow. Therefore, I have explained what services they provide, along with how and why you should apply for their auto loan.


Exeter Finance – A General Overview Of The Company  

This is what Exeter Finance claims about their services –

At Exeter, we focus on being a premier auto finance company and lender of choice known for its people, performance, and service. We work with thousands of franchised and independent dealers nationwide to make vehicle ownership possible for everyone. We have helped more than one million consumers purchase the cars they want by providing the financing solutions they need.”

Some experienced auto finance executives founded the company in the year 2006. After its early success in the United States, a large investment company, the Blackstone Group, acquired Exeter Finance in the year 2011.

After five years of the acquisition, Exeter Finance marked its 10-year anniversary, where its portfolio was valued at $3 billion. In 2021, Exeter Finance entered an agreement with Warburg Pincus. After the agreement, the finance company reached a valuation of $7 billion thus marking its 15th anniversary.

Services Provided By Exeter Finance

Services Provided By Exeter Finance

The primary Exeter Finance auto loan services, which are similar to Westlake Financial, are:

1. Subprime Auto Loans

It’s difficult to get a loan in the USA if you have a lower credit score. Most financing companies that I have visited provide loans to customers with a credit score above 700. Therefore, if your credit score becomes less than that, your loan application is most likely to be rejected.

However, that is not the case with Exeter Finance. This company specializes in providing subprime auto loans to customers with credit scores below 600. Such a lenient loan service is made possible due to Exeter Financing’s partnership with a network of automobile dealers all over the country.

However, it’s easier to get a loan if you learn about the best-paying jobs in real estate investment trusts.

Exeter Financial can provide you with subprime auto loans to help you buy your dream car – either new or used. The interest rates on these loans and their terms for repayment vary on your credentials. Depending on your income, credit scores, and vehicular requirements, you must agree upon different personalized interest rates and loan terms.

2. Refinancing

It offers several refinancing options for their customers who already have auto loans under their name. Refinancing allows you to modify the terms of the loan as long as certain prerequisite conditions are met. Through these refinancing options, you can lower the monthly interest rate you are paying, along with the overall amount you are paying every month.

You can apply for refinancing if you have taken a loan. This is applicable to loans taken for both old and new automobiles. With refinancing, you can save a lot of money throughout the loan repayment period.

3. Online Account Management

If you wish to take a loan from Exeter Finance, you have to create an account on their website. After you have done so, you can manage your loans through the portal for customers.

This is an amazing service that will allow you to see how much of the loan is paid and how much there is left to pay. In addition, you also get to make your Exeter Finance payment directly from the app itself! All you need to do is connect your bank account with your app.

In addition, you can manage your account anytime since the portals are open 24/7.

Exeter Finance Loan Application Process

Loan Application Process

Exeter Fiance has a straightforward and simple loan application process. It’s similar to the application process of Chrysler Capital. This application process can be broken down into three steps, as I have explained below.

1. Qualification Requirements

To qualify for a loan the first thing that you need to check is whether you qualify for getting loans.

Therefore, you will need to fill out the pre-qualification form. In this form, you have to disclose some personal information about yourself. Depending on this information, Exeter Auto Finance will decide whether you are worthy enough to get a loan or not.

Here are some of the basic details that you need to fill out:

  • Name
  • Address
  • Income Statement
  • Credit Score (current)

2. Application

After filling out the prequalification form, you will have to wait for a maximum of three days before Exeter Finance gets back to you. If they do, congratulations! You are qualified for an auto loan!

After this, you will need to fill out their online loan application form. If you want, you can go to any Exeter Finance address for insurance to get it done physically. Here, you need to provide a more detailed overview of yourself, which includes various information like:

  • Income Statement
  • Employment history
  • The vehicle you wish to purchase
  • Other personal information, as specified
  • Other financial information, as specified

3. Approval

Now, you have to wait a day or two for Exeter Finance to approve your loan. Remember that they can disapprove your loan application, even if you have prequalified for it.

If your loan application gets approved, you will get a call from one of their executives. After this, you will come in contact with the auto dealership and agree upon your Exeter finance settlement.

Why Choose Exeter Finance? Are There Any Risks Involved?

Why Choose Exeter Finance

There are various reasons why you should consider applying for an auto loan, according to Exeter Finance reviews by customers. After analyzing them, here are the main benefits – and drawbacks – of getting a loan from Exeter Finance.


The main advantages are:

1. Flexible Loan Terms

One of the best benefits this company provides is serving flexible loan terms for all its customers. Depending on your income statement, credit score, and loan amount, the repayment term will be fixed upon these factors. This includes the loan term, its interest rate, and the monthly payments you need to make.

2. Personalized Services

Exeter Auto Financing will guide you as a customer every step of the way. Depending on your auto loan needs, their executives will help you connect with the right dealerships.

3. Online Account Management

The Exeter Finance App is an amazing app that you can use to manage your loans. You can check all the details about your loan, available online 24/7. In addition, you can also make your loan payments directly from this app.


The main disadvantages, as reported by existing and former customers, are:

1. Higher Interest Rates

The loans you get here are subprime loans – which have a higher rate of interest. Compared to a traditional auto loan from other lenders, the interest rate is almost 1.5 times more. Once again, this depends on the loan agreement.

2. Penalty Fees

If any of your loan payments get returned, or you pay your monthly dues late, you will be penalized. If you do get penalized, the penalty fees are quite substantial.

3. Vehicle Repossession

One of the most stressful experiences faced by Exeter Finance customers is vehicle repossession. If you fail to pay anything for a certain period or become unable to pay it on time, the company can repossess your vehicle until you pay the full loan amount.

Conclusion: Is Exeter Finance A Legit Company?

Is Exeter Finance A Legit Company

If you want an auto loan to buy a car, bike, or any type of vehicle you want, Exeter Finance can help you out. With over 17 years of experience, it’s a well-trusted company. It provides amazing personalized auto loan services with a convenient app to make your loan management and payment easier.

However, its higher interest rates, penalty fees, and vehicle repossession clauses might worry you. Overall, it’s a great company as long as you are sure you can pay the loan on time.

1. Personalized customer service
2. Flexible loan agreements
3. Online app
1. High-interest rates
2. High penalty fees
3. Vehicle Repossession

Frequently Asked Questions!! (FAQs)

The following are some of the major questions related to Exeter Finance that you can find:

1. What To Do After Receiving An Email From Exeter Finance? 

Ans. If you have applied for automobile financing at any dealership, you might get an email from Exeter Finance. This is because Exeter was included as an option with the dealership. Hence, once you apply for the loan, Exeter Finance will send you an email. If you do not have an account with Exeter, you can create one if you are interested by following the instructions within the email.

2. Can You Refinance With Exeter?  

Ans. Exeter Finance does not offer a refinance option to applicants. However, if you have problems making your payments, they will surely offer you help. Just call Exeter Finance at (800) 321-9637.

3. Can You Change Your Due Date With Exeter Finance?  

Ans. You can change your due date with Exeter Finance. However, your account needs to qualify for a change in due date. To know whether your account qualifies for a change in due date or not, consider contacting the customer service of Exeter Finance.

4. Will Exeter Finance Send You A Revised 1099-C If You Make A Payment? 

Ans. No, Exeter Finance will not send you a revised 1099-C under applicable law. If you want to revise your 1099-C, consider consulting with your tax advisor or the Internal Revenue Service (IRS). This way, you will be able to evaluate the effect of subsequent payments on your tax liability based on the discharge of your indebtedness. 

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