RefinancingĮxeter Finance offers several refinancing options for their customers who already have auto loans under their name. Depending on your income, credit scores, and vehicular requirements, you must agree upon different personalized interest rates and loan terms. The interest rates on these loans and their terms for repayment vary on your credentials. However, it’s easier to get a loan if you learn about the best-paying jobs in real estate investment trusts.Įxeter Financial can provide you with subprime auto loans to help you buy your dream car – either new or used. Such a lenient loan service is made possible due to Exeter Financing’s partnership with a network of automobile dealers all over the country. This company specializes in providing subprime auto loans to customers with credit scores below 600. However, that is not the case with Exeter Finance. Therefore, if your credit score becomes less than that, your loan application is most likely to be rejected. Most financing companies that I have visited provide loans to customers with a credit score above 700. It’s difficult to get a loan in the USA if you have a lower credit score. Previously, their offices secured nearly $26 million from Santander Consumer USA for its role in subprime auto financing.The primary Exeter Finance auto loan services, which are similar to Westlake Financial, are: 1. These settlements are part of what Healey and Jennings said are reviews of securitization practices in the subprime auto finance space - an investigation that remains ongoing. Healey went on to mention Exeter also allegedly mishandled servicing and collecting activities in violation of Massachusetts’ debt collection regulations. Officials explained courts have held that lending is unlawful under the statute if finance companies do not have a basis for believing that borrowers will be able to repay their loans in normal course. “Our office will continue to investigate the subprime auto lenders to ensure that Delaware consumers receive a fair deal when they are extended credit to finance a purchase,” Jennings went on to say.īoth AG offices alleged that Exeter facilitated the origination of auto financing in Massachusetts and Delaware that the company knew or should have known were unfair and in violation of the state consumer protection laws. Today’s settlement with Exeter provides monetary relief to Delaware borrowers and repairs damaged credit. Jennings added, “Protecting consumers from unfair lending practices is extremely important. Our office will continue to investigate the subprime lenders, financiers and securitizers, and protect consumers.” “Today’s settlement with Exeter provides millions of dollars in relief and repairs damaged credit. “This company’s loans put Massachusetts car buyers in economic danger,” Healey said. Delaware attorney general Kathleen Jennings announced her state’s settlement with Exeter includes $550,000 to provide relief to customers in Delaware.Īnd like in Massachusetts, Jennings indicated Exeter will also be waiving deficiencies on certain subprime installment contracts and will be asking the major credit bureaus to wipe all trade lines for involved contracts on those consumers’ credit reports. Healey said her office worked collaboratively with the Delaware attorney general’s office on this investigation. Healey also said Exeter will also waive deficiencies on certain installment contracts and will ask the major credit bureaus to wipe all trade lines for involved installment contracts on consumers’ credit reports. Healey explained this assurance of discontinuance, filed in Suffolk Superior Court, includes $4.675 million that will be available to provide relief to harmed borrowers and an $825,000 payment to the state.
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