If you are researching Exeter Finance before taking out an auto loan making a payment refinancing your vehicle or managing an existing account it is important to understand how the company works and what options may be available to you. Exeter Finance is a U.S. auto finance company that works with franchised and independent dealerships to provide vehicle financing with a particular focus on customers who may have difficulty obtaining traditional financing.
Exeter says it has helped more than one million drivers get on the road and describes itself as one of the largest non-prime auto finance companies in the United States. Its services include vehicle financing online account management payment options customer support and refinancing for eligible non-Exeter customers.
This guide explains what Exeter Finance does how its auto financing works how customers can make payments what to know about refinancing and what borrowers should consider before agreeing to an auto loan.
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Table of Contents
What Is Exeter Finance?
Exeter Finance is an American auto finance company headquartered in Irving Texas. The company was founded in 2006 and specializes in vehicle financing through thousands of franchised and independent dealers nationwide.
Rather than operating like a traditional bank that offers a broad range of consumer financial products Exeter focuses heavily on automobile financing. The company says its goal is to make vehicle ownership possible for more people by considering customers’ financial circumstances and future opportunities.
Exeter is particularly associated with non-prime auto financing meaning its services can be relevant to borrowers who may not qualify for the most competitive financing available from banks or credit unions.
However a borrower should never judge an auto loan only by whether they can get approved. The interest rate loan term monthly payment fees total amount financed and total cost of the vehicle are all important.
How Does Exeter Finance Auto Financing Work?
For many borrowers the process begins at a participating automobile dealership. Exeter works with franchised and independent dealers allowing eligible customers to seek financing while purchasing a vehicle.
Your final financing terms can depend on factors such as credit history income vehicle information down payment loan amount and other underwriting considerations. Approval does not automatically mean that a particular loan is affordable.
Before signing an agreement review the complete loan documents. Pay particular attention to:
- Annual percentage rate
- Amount financed
- Monthly payment
- Number of payments
- Loan term
- Total amount of payments
- Down payment
- Optional products or services
- Late-payment consequences
- Any applicable fees
A lower monthly payment can sometimes result from extending the loan over a longer period. While that may make the payment easier to manage it can increase the amount of interest paid over the life of the loan.
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How Can You Make an Exeter Finance Payment?
Exeter provides several payment methods for customers. Its website says customers can use MyAccount Quick Pay phone payments mail debit payments recurring AutoPay MoneyGram or Western Union subject to the applicable terms.
The company’s MyAccount portal provides 24/7 account access. Customers can use it to make payments and review account information. Exeter also states that online payment activity posts immediately to the Exeter account although a customer’s bank may take up to 48 hours to debit the funds.
When making an online payment keep the confirmation number for your records. This can be useful if you later need to verify when a payment was submitted.
Borrowers should also be careful with payment deadlines. A missed payment can potentially result in additional costs and may affect credit history depending on the circumstances and reporting practices.
What Is Exeter Finance MyAccount?
MyAccount is Exeter’s secure online account-management portal. It allows customers to access their accounts around the clock and perform important tasks without calling customer service for every transaction.
Customers can use the portal to make payments review account information and communicate securely with Exeter. New users need account information to register.
According to Exeter customers registering for MyAccount need their seven-digit Exeter account number the last four digits of the primary account holder’s Social Security number and the ZIP code associated with the account.
Because financial accounts contain sensitive information borrowers should avoid sharing passwords verification codes or account details with unknown individuals.
Can You Refinance an Exeter Finance Auto Loan?
Refinancing can potentially reduce an auto loan’s monthly payment or interest rate but eligibility and terms vary.
Exeter currently states that its refinancing program is not available to existing Exeter customers. The company’s refinancing page instead describes refinancing options for eligible customers who are not currently financed by Exeter.
Exeter advertises potential benefits including lower monthly payments and the possibility of obtaining a lower interest rate. The company also says customers using its refinancing process may receive offers without an initial impact to their credit score subject to the program’s terms.
If you are considering refinancing an existing Exeter loan with another lender compare the new loan against your current agreement rather than focusing only on the new monthly payment.
For example compare:
Current loan: remaining balance + remaining interest + fees
New loan: new balance + new interest + fees + any other costs
A lower payment is not necessarily a better deal if the new loan extends repayment for significantly longer.
Is Exeter Finance Legit?
Yes. Exeter Finance is an established U.S. auto finance company that has operated since 2006. The company’s official website provides information about its services customer support payment systems and corporate history.
At the same time legitimacy and customer satisfaction are two different questions. Consumers should evaluate both official information and independent customer feedback before making a financial decision.
For example Trustpilot currently displays thousands of customer reviews and an overall high rating for Exeter Finance while the Better Business Bureau’s review pages contain complaints from some consumers concerning issues such as payments account servicing and other loan-related experiences.
Online reviews represent individual experiences and should not automatically be treated as proof that every customer will have the same experience.
What Should You Consider Before Getting an Exeter Finance Loan?
If you are considering Exeter Finance for an auto loan start by determining whether the vehicle fits comfortably within your budget.
Your real monthly transportation cost may include more than the loan payment. Consider insurance fuel maintenance registration taxes repairs and unexpected expenses.
You should also compare Exeter’s offer with alternatives such as banks credit unions and other auto lenders when possible. Even if you have less-than-perfect credit shopping around may help you understand whether another lender can provide a lower overall cost.
Ask yourself:
- Can I comfortably afford the monthly payment?
- What is the APR?
- How much will I pay in total?
- How long will I be making payments?
- Is a down payment required?
- Are optional products included?
- Can I afford the insurance and maintenance?
- What happens if my financial situation changes?
Reading the complete contract before signing is one of the most important steps a borrower can take.
Exeter Finance Customer Support and Account Help
If you already have an Exeter account and need assistance the company’s customer-support page provides contact information for payment and account questions. Exeter lists (800) 321-9637 for customer service and provides additional channels for feedback complaints and fraud-related concerns.
For account-specific questions it is generally better to use the official Exeter channels rather than relying on information posted by unrelated websites or social media accounts.
If you believe there is an error with your account keep copies of statements payment confirmations correspondence and other relevant documents. Clear records can make it easier to explain your situation and request a review.
Frequently Asked Questions About Exeter Finance
Is Exeter Finance a bank?
No. Exeter Finance is an auto finance company specializing in vehicle financing rather than operating as a traditional full-service consumer bank.
Does Exeter Finance offer auto loans?
Yes. Exeter provides vehicle financing through franchised and independent automobile dealers across the United States.
How can I make an Exeter Finance payment?
Customers can use options such as MyAccount Quick Pay phone mail debit payments AutoPay MoneyGram and Western Union subject to Exeter’s applicable requirements.
Can existing Exeter customers refinance with Exeter?
Exeter currently states that refinancing is not available to existing Exeter customers through its refinancing program.
How do I access Exeter Finance MyAccount?
New customers can register through Exeter’s MyAccount system using the account information requested during registration. The portal provides 24/7 access for account management and payments.
Is Exeter Finance good for people with bad credit?
Exeter specializes in non-prime auto financing so its products may be relevant to borrowers who have difficulty qualifying for prime financing. However borrowers should compare APRs fees loan terms and total repayment costs before accepting an offer.
Final Thoughts
Exeter Finance is a major U.S. auto finance company focused on helping consumers obtain vehicle financing including borrowers who may fall outside traditional prime-credit categories. It offers dealer-based financing online account management multiple payment methods customer support and refinancing options for eligible non-Exeter customers.
For borrowers the most important consideration is not simply whether Exeter or another lender approves an application. The better question is whether the complete financing agreement fits your budget and represents a reasonable overall cost.
Before signing compare the APR monthly payment loan term fees and total amount you will repay. If you already have an Exeter loan use the official account-management and customer-support channels to keep your payments and account information organized.
Financial decisions are personal so take time to understand the agreement and compare available options before committing to a long-term auto loan.
Official resource: Exeter Finance
