Start My Answer

When Does Exeter Finance Repo Cars?

Sarah Edwards | February 09, 2024

Edited by Hannah Locklear

Summary: Exeter Finance offers high-interest car loans to people with bad credit. While repossession laws vary by state, Exeter Finance is likely to repossess your car if you go 3-5 months without paying. SoloSettle can help you settle a debt with Exeter Finance and move on with your life.

If you’ve recently financed a car, you may find that Exeter Finance holds your loan. Exeter Finance partners with thousands of auto dealerships nationwide, helping people buy cars even if they have poor credit or minimal income.

While Exeter Finance can help you obtain a vehicle when finding a lender is nearly impossible, you can expect high interest rates that increase the cost of your monthly payments.

If you find yourself drowning in debt as a result of high-interest loans with Exeter Finance, debt settlement may be your way out.

Settle with SoloSettle

Make an Offer

What to know about Exeter Finance

Exeter Finance is a popular auto financier — it has over 12,000 partnerships with dealerships nationwide. Most companies that Exeter Finance partners with are independent dealers, although a few are franchises. Exeter Finance aims to help dealers sell more vehicles by providing loans to people who typically wouldn’t qualify due to poor credit scores or low income.

The company is the fourth-largest non-prime auto lender in the U.S. It will lend to people with no credit and will finance up to $50,000 per car. Automobile dealerships benefit from a partnership with Exeter Finance since they can push more vehicles off their lots.

Let’s consider an example.

Example: Harry needs a new car but has a low credit score. He visits a local used car dealer and finds a Nissan Versa for $15,000. Harry applies for financing with the dealership, and Exeter Finance offers him a loan with a $500 down payment and 28% APR. Since Harry knows it will be difficult to find a conventional auto loan with a lower interest rate, he accepts the offer.

When does Exeter Finance repo cars?

It depends on where you live and the terms of your contract, but usually Exeter Finance will repo cars after 3-5 months of missed payments on an auto loan.

We called Exeter Finance to ask them when they repossess cars, and the Exeter agent made it very clear that there isn’t a clear answer to this question because many factors influence the timing of Exeter Finance repossession. However, the agent did advise that consumers will receive a notice in the mail stating the date of their last chance to make a payment on a vehicle before it will be repossessed.

Avoid an Exeter Finance repossession

Avoiding a repossession from Exeter Finance, or any auto loan lender, primarily involves managing your loan payments effectively and maintaining open communication with the lender. Here are some strategies to help avoid an Exeter Finance repossession:

  • Make your payments on time, online.
  • Call an Exeter Finance agent to talk about setting up a new payment plan that works with your budget.
  • Discuss financial assistance options with an Exeter Finance agent.
  • Consider voluntary repossession.

No matter how you decide to avoid a car repo, taking action early can help prevent the stress and credit damage associated with a repossession.

Read Exeter Finance reviews online

Before deciding to take out a loan from a company you’re unfamiliar with, it’s always a good idea to check its customer reviews. The BBB is a great source to learn more about lenders and their practices.

Exeter Finance has a profile with the BBB, but it isn’t BBB-accredited. As of 2024, it has a score of 1.14 stars out of 5. This score is based on more than 100 reviews posted on the BBB site. Out of nearly 300 Google reviews, Exeter Finance has an average rating of 1.6 out of 5 stars.

The reviews of Exeter Finance follow the same themes. Numerous customers complain of excessive interest rates and poor communication with staff. One customer indicated they paid nearly $30,000 for a car worth only $17,000 due to interest and fees.

Another customer made $16,000 in auto payments over three years but still owes $14,000 on an initial $15,000 loan — illustrating just how high the interest is on Exeter’s loans.

Read some real Exeter Finance reviews below:

Is Exeter Finance suing you for unpaid auto debt? Use SoloSettle to settle your debt today. Check out this video to learn more about how to settle a debt:

Exeter Finance Corp has received many complaints

Many cars that Exeter finances are used vehicles; they may not last as long as new vehicles and will require more repairs. Some customers complain that the cars they buy are lemons — costing them thousands of dollars in repairs in addition to the interest and fees they incur with Exeter Finance.

In the past three years, more than 600 people filed complaints against Exeter Finance through the BBB. Most complaints relate to poor customer service, unexpected payment withdrawals, high interest rates, and repossessions. Even worse, the Consumer Financial Protection Bureau reported more than 2,000 complaints against Exeter in the same time period.

One person spoke of putting a $10,500 downpayment on a $24,000 vehicle, only to receive a loan with a 28% APR and $533 monthly payments for 66 months. The consumer tried doubling the payments to reduce the total interest paid, but the company charges daily interest, which makes it hard to pay down the principal.

In an unfortunate case, the family of a deceased person who had an auto loan with Exeter faced several headaches. The company tried to repossess the vehicle, but it wouldn’t provide the family with a receipt of repossession.

An attorney advised the family not to accept the offer because Exeter could hold the deceased’s estate liable for the remaining loan balance. The family decided to sell the car to another buyer, who agreed to repay the loan. According to the family, Exeter falsely claimed it repossessed the vehicle to obtain a refund on the vehicle’s warranty for $3,000.

Exeter Finance is likely to repossess your car if you don’t stay on top of your payments. Several consumers complain of unexpected repossessions. Once Exeter repossesses a car, it charges thousands of dollars to return it. According to the complaints, most repossessions occur after three to four months of nonpayment.

Sometimes, a car just isn’t worth it

If you’re finding it difficult to obtain an auto loan because of poor credit, don’t let Exeter Finance take advantage of your desperation.

While being without wheels is hard, especially when you have a commute and family responsibilities, sometimes it’s better to work on your credit than to take on a commitment you can’t afford. You can improve your credit score and obtain a better loan with some effort.

Don’t let Exeter Finance garnish your wages. Settle your debt with SoloSettle’s help.

What is SoloSettle?

SoloSettle, powered by SoloSuit, is a tech-based approach to debt settlement.

SoloSettle's software makes it easy to send and receive settlement offers until you reach an agreement with your creditor or debt collectors.

Once you come to a settlement agreement, SoloSettle manages your agreement documentation and transfers your settlement payment for you, keeping your financial information safe from pesky debt collectors.

>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate

>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)

How to answer a summons for debt collection in your state

Here's a list of guides for other states.

All 50 states.

Guides on how to beat every debt collector

Being sued by a different debt collector? Were making guides on how to beat each one.

We have answers

Join our community of over 40,000 people.

You can ask your questions on the SoloSuit forum and the community will help you out. Whether you need help now are are just look for support, we're here for you.

Get Started

Win against credit card companies

Is your credit card company suing you? Learn how you can beat each one.

Going to Court for Credit Card Debt — Key Tips

How to Negotiate Credit Card Debts

How to Settle a Credit Card Debt Lawsuit — Ultimate Guide

Get answers to these FAQs

Need more info on statutes of limitations? Read our 50-state guide.

Why do debt collectors block their phone numbers?

How long do debt collectors take to respond to debt validation letters?

What are the biggest debt collector companies in the US?

Is Zombie Debt Still a Problem in 2019?

SoloSuit FAQ

If a car is repossessed, do I still owe the debt?

Is Portfolio Recovery Associates Legit?

Is There a Judgment Against Me Without my Knowledge?

Should I File Bankruptcy Before or After a Judgment?

What is a default judgment?— What do I do?

Summoned to Court for Medical Bills — What Do I Do?

What Happens If Someone Sues You and You Have No Money?

What Happens If You Never Answer Debt Collectors?

What Happens When a Debt Is Sold to a Collection Agency

What is a Stipulated Judgment?

What is the Deadline for a Defendants Answer to Avoid a Default Judgment?

Can a Judgement Creditor Take my Car?

Can I Settle a Debt After Being Served?

Can I Stop Wage Garnishment?

Can You Appeal a Default Judgement?

Do I Need a Debt Collection Defense Attorney?

Do I Need a Payday Loans Lawyer?

Do student loans go away after 7 years? — Student Loan Debt Guide

Am I Responsible for My Spouses Medical Debt?

Should I Marry Someone With Debt?

Can a Debt Collector Leave a Voicemail?

How Does Debt Assignment Work?

What Happens If a Defendant Does Not Pay a Judgment?

How Does Debt Assignment Work?

Can You Serve Someone with a Collections Lawsuit at Their Work?

What Is a Warrant in Debt?

How Many Times Can a Judgment be Renewed in Oklahoma?

Can an Eviction Be Reversed?

Does Debt Consolidation Have Risks?

What Happens If You Avoid Getting Served Court Papers?

Does Student Debt Die With You?

Can Debt Collectors Call You at Work in Texas?

How Much Do You Have to Be in Debt to File for Chapter 7?

What Is the Statute of Limitations on Debt in Washington?

How Long Does a Judgment Last?

Can Private Disability Payments Be Garnished?

Can Debt Collectors Call From Local Numbers?

Does the Fair Credit Reporting Act Work in Florida?

The Truth: Should You Never Pay a Debt Collection Agency?

Should You Communicate with a Debt Collector in Writing or by Telephone?

Do I Need a Debt Negotiator?

What Happens After a Motion for Default Is Filed?

Can a Process Server Leave a Summons Taped to My Door?

Learn More With These Additional Resources:

Need help managing your finances? Check out these resources.

How to Make a Debt Validation Letter - The Ultimate Guide

How to Make a Motion to Compel Arbitration Without an Attorney

How to Stop Wage Garnishment — Everything You Need to Know

How to File an FDCPA Complaint Against Your Debt Collector (Ultimate Guide)

Defending Yourself in Court Against a Debt Collector

Tips on you can to file an FDCPA lawsuit against a debt collection agency

Advice on how to answer a summons for debt collection.

Effective strategies for how to get back on track after a debt lawsuit

New Hampshire Statute of Limitations on Debt

Sample Cease and Desist Letter Against Debt Collectors

The Ultimate Guide to Responding to a Debt Collection Lawsuit in Utah

West Virginia Statute of Limitations on Debt

What debt collectors cannot do — FDCPA explained

Defending Yourself in Court Against Debt Collector

How to Liquidate Debt

Arkansas Statute of Limitations on Debt

Youre Drowning in Debt — Heres How to Swim

Help! Im Being Sued by My Debt Collector

How to Make a Motion to Vacate Judgment

How to Answer Summons for Debt Collection in Vermont

North Dakota Statute of Limitations on Debt

ClearPoint Debt Management Review

Indiana Statute of Limitations on Debt

Oregon Eviction Laws - What They Say

CuraDebt Debt Settlement Review

How to Write a Re-Aging Debt Letter

How to Appear in Court by Phone

How to Use the Doctrine of Unclean Hands

Debt Consolidation in Eugene, Oregon

Summoned to Court for Medical Bills? What to Do Next

How to Make a Debt Settlement Agreement

Received a 3-Day Eviction Notice? Heres What to Do

How to Answer a Lawsuit for Debt Collection

Tips for Leaving the Country With Unpaid Credit Card Debt

Kansas Statute of Limitations on Debt Collection

How to File in Small Claims Court in Iowa

How to File a Civil Answer in Kings County Supreme Court

Roseland Associates Debt Consolidation Review

How to Stop a Garnishment

Debt Eraser Review

Do Debt Collectors Ever Give Up?

Can They Garnish Your Wages for Credit Card Debt?

How Often Do Credit Card Companies Sue for Non-Payment?

How Long Does a Judgement Last?

​​How Long Before a Creditor Can Garnish Wages?

How to Beat a Bill Collector in Court

Not sued yet?

Use our Debt Validation Letter.

Out Debt Validation Letter is the best way to respond to a collection letter. Many debt collectors will simply give up after receiving it.

Let's Do It

It only takes 15 minutes.

And 50% of our customers' cases have been dismissed in the past.

"Finding yourself on the wrong side of the law unexpectedly is kinda scary. I started researching on YouTube and found SoloSuit's channel. The videos were so helpful, easy to understand and encouraging. When I reached out to SoloSuit they were on it. Very professional, impeccably prompt. Thanks for the service!" - Heather

Get Started