In recent times, Exeter Finance has been embroiled in a legal battle that has attracted significant attention. This article aims to provide an overview of the Exeter Finance lawsuit in 2021, highlighting the allegations, the lawsuit background, the response from Exeter Finance, and the potential implications for borrowers and the company itself. Through this examination, we seek to shed light on the ongoing legal proceedings and the potential outcomes of this case.

1. Understanding Exeter Finance

Exeter Finance is a prominent auto finance company that specializes in providing loans to individuals with less-than-perfect credit. Their services aim to help people obtain auto financing, even if they have been turned away by traditional lenders. Exeter Finance operates across the United States and has facilitated the purchase of thousands of vehicles over the years.

2. The Allegations

The Exeter Finance lawsuit centers around allegations made by borrowers who claim that the company engaged in unfair and deceptive practices. Some of the common allegations include excessive interest rates, predatory lending practices, undisclosed fees, and aggressive debt collection tactics. These allegations have prompted legal action against Exeter Finance, leading to a series of legal battles in 2021.

3. Lawsuit Background

The Exeter Finance lawsuit originated from a growing number of complaints from borrowers who felt they had been taken advantage of by the company. As the number of dissatisfied customers increased, several law firms began investigating potential legal avenues to address these concerns. This resulted in the filing of a class-action lawsuit against Exeter Finance, which alleged widespread misconduct and sought compensation for affected borrowers.

4. Exeter Finance’s Response

Exeter Finance has vehemently denied the allegations brought against them. The company argues that they have always adhered to all applicable laws and regulations, and their loan terms are communicated to borrowers. They contend that their goal is to provide financing options to individuals who may otherwise struggle to obtain loans due to their credit histories. Exeter Finance maintains that they prioritize fair lending practices and treat their customers with respect.

5. Legal Proceedings

The legal proceedings surrounding the Exeter Finance lawsuit have gained momentum throughout 2021. The class-action lawsuit has proceeded to the discovery phase, during which both parties gather evidence and exchange information. Depositions, document requests, and interrogatories are part of this process. As the case progresses, the court will determine whether the case should proceed to trial or if a settlement can be reached.

6. Implications for Borrowers

The outcome of the Exeter Finance lawsuit holds significant implications for borrowers who have taken loans from the company. If the allegations are proven true and the lawsuit succeeds, affected borrowers may be eligible for compensation or debt relief. Additionally, a favorable ruling could lead to changes in the way Exeter Finance operates, potentially resulting in improved lending practices and increased transparency for future borrowers.

7. Impact on Exeter Finance

The Exeter Finance lawsuit has already had a notable impact on the company. The negative publicity surrounding the legal battle has affected its reputation and raised concerns among potential customers. It has also prompted increased scrutiny from regulatory bodies, leading to potential fines or other regulatory actions. The financial implications of the lawsuit, including legal fees and potential settlements, could also significantly impact Exeter Finance’s bottom line.

8. Regulatory Actions

In response to the allegations and legal proceedings, regulatory bodies have been closely monitoring Exeter Finance. Government agencies responsible for consumer protection and financial regulations are conducting their investigations to ensure compliance with relevant laws. Depending on the outcomes of these investigations, Exeter Finance could face additional penalties or requirements to rectify any identified deficiencies in their lending practices.

9. Potential Outcomes

The potential outcomes of the Exeter Finance lawsuit are still uncertain. If the case proceeds to trial, a verdict could be reached by a judge or jury, determining whether Exeter Finance is liable for the alleged misconduct. Alternatively, the parties may choose to settle the case outside of court, potentially resulting in compensation for affected borrowers and certain changes to Exeter Finance’s operations. The outcome will depend on the evidence presented, the legal arguments made, and the decisions of the court.

10. Settlement Possibilities

Settlement discussions are common in lawsuits of this nature. Both parties may engage in negotiations to reach a mutually agreeable resolution. Settlements can provide affected borrowers with compensation or other forms of relief while allowing Exeter Finance to avoid the uncertainties and potential reputational damage associated with a protracted legal battle. The terms of any settlement reached will depend on various factors, including the strength of the evidence, potential damages, and the willingness of the parties to find a resolution.


The Exeter Finance lawsuit in 2021 has brought attention to the practices of the auto finance industry and the treatment of borrowers with less-than-perfect credit. As the legal battle continues, it remains to be seen how the allegations against Exeter Finance will be resolved. The outcome of this case could have far-reaching implications for borrowers, Exeter Finance, and the broader auto finance industry. It underscores the importance of fair lending practices, transparency, and the protection of consumers’ rights in the financial sector.


Is Exeter Finance still providing auto loans amid the lawsuit?

As of the time of writing, Exeter Finance continues to provide auto loans, but the ongoing lawsuit may impact their operations in the future.

How can borrowers affected by Exeter Finance’s practices join the lawsuit?

Individuals who believe they have been affected by Exeter Finance’s practices should consult with legal professionals specializing in consumer protection or class-action lawsuits to explore their options.

What types of compensation could borrowers receive if the lawsuit succeeds?

If the lawsuit succeeds, affected borrowers may be eligible for compensation, debt relief, or other forms of restitution, depending on the court’s decision.

Are there similar lawsuits against other auto finance companies?

While the focus of this article is on Exeter Finance, there have been cases and allegations against other auto finance companies regarding unfair lending practices. Each case should be evaluated individually.

How long is the legal process expected to take?

The length of the legal process can vary significantly. It depends on various factors, such as the complexity of the case, potential settlement discussions, and court scheduling.


  1. avatar
    MARSHA says:

    I have been having issues with my acct. with Exeter Finance, no matter how much I pay them they still showing an amount that I do not agree with. Everytime I call or my fiance calls it is a different story, and a differnt amount. They are charging me so much interest by the time I finish paying off my car it is going to cost me twice as much. This is highway robbery. I would like to be part of the lawsuit against them. Can you please help me

  2. avatar
    Julene Johnson says:

    My name is Julene Johnson, My car was Finance thur Exeter in 2021 interest rate is high, Im charge interest fee every day, which means I will never finish paying for the car, price of the car was 18,000.00 almost 3years of paying still owe 16,000.00
    on a car that is a 2013 with high mileage

  3. avatar
    Lori Martin says:

    I was in the middle of a manufacture repurchase with contract in hand on 7/29/23 to receive $18500 in payments back, Exeter Finance to receive $12843 owed on the loan and $2500 in attorneys fees. I was not happy with an unlimited power of attorney to Hyundai and hold harmless for warranty work by Riverside Hyundai who used auction parts on the repairs. I took photos. Car was returned after 72 days and broke down a the following day. Exeter Finance agreed to keep it out of repossession status in May 2022 when issuing the payoff quote. They maliciously repossessed the car just days prior to debt remedy and refund of payments. I put $28000 into payments and my principle amount hardly went down. Even when balloon payments of up to $1700 had been made the payment was $609 per month. I filled complaints to Xavier Becerra and Rob Bonta’s office. Nothing was done Exeter Finance stole the car. I demanded the location of the vehicle after a legal loan on a future settlement was taken out they refused to tell me where to pick up the vehicle in writing. I have all the emails to the CEO.

  4. avatar
    Lance Kelly says:

    My SUV was in a hit and run accident and my insurance company has repair my SUV but it was not right 😞 and it cuz my Engine to need to be replaced and then the insurance tolo my SUV Exeter Finance offered 4125.81 pay off insurance company offers 11,400 so Exeter Finance is trying to take advantage of me the Contact was for 4125.81 now they are trying to take 11,400 from me

  5. avatar

    My wife and I have also been experiencing these same types of issues, we have paid 29 payments while the amount has hardly moved on what is owed, and the monthly payment is nearly $1000 per month, then if you miss a payment by even a day, they add over $300 as late fees which i thought of as unheard of and excessive! At 29 payments we have paid in aprox. $28,000 and only something like $6000 has been moved off of the principle which doesn’t seem right what so ever.

    1. avatar
      Ray says:

      i just looked at my payment history and at nearly 1000 per month being paid less than 350 has been going towards the loan amount and that is when anything at all goes toward that amount, there are more of our payments that show the entire monthly payment going to interest than there are payments that show any money at all going toward loan amount, nearly 30k paid in over 2 plus years and barely 6k taken off loan

  6. avatar
    Charlotte and Donald Peters says:

    We are having the same issues with Exeter Finance! At the end of the day we’re paying over $30,000 on a $12,000 loan, which we weren’t told at the time of financing! We would’ve NEVER agreed to that kind of financing! They add interest DAILY and none of the principal is being paid down! Why are our “Truth In Lending” rights being violated by this finance company??

  7. avatar
    Raymond says:

    who do we contact about this case or can someone contact us? my previous comment tells why but i dont know how to become part of this, our loan started sept, of 21 and still has less than $7000 off principle loan amount after paying over $28,000 in payments already!

  8. avatar
    Ernest Jackson says:

    My name is Ernest Jackson. I’ve purchase my vehicle in 2022. I did fall behind in my payments but I caught up my payments. My bank stated to me that, Exeter finance were rejecting my bank account payments. But they didn’t send me any notices to my home nor email. Therefore, I was charged several late fees. I had to extend my loan in order to get caught up. They charge me for a late fee for the month of Nov 2023 and I didn’t even have a bill. They also charge me a late fee in Dec 2023 stated that I was 35 days behind in my bill; whereas, my bill was due on the 19th and I paid it on the 25th of Dec. I need help against them.

  9. avatar
    Amy McCormick says:

    In November 2017, I was tricked into a high interest rate auto loan with the promise I could refinance in 6 months for a lower rate. I am a single, disabled mother with low income. I have struggled to make my payments over the years but have always set up payments with Exeter. I had 9 deferrments over the 7 years. I am nearing the maturity date on my loan 7/29/2024 but my last payment is going to be over $7,000. I had no idea! I had no understanding of how this would effect my loan. Looking back at my payments, I see my first 4 payments went all to interest. I have never experienced anything like this. I would not have signed up for a loan like this if I understood what I was signing up for. I have paid over $32,000 for a car worth $7,000. Exeter wants an additional $9,500 to pay off the loan. Total payed for a 2017 kia soul, manual transmission is over $41,000. I have made 67 of 72 payments but still owe $9,500 or they have told me my car will be reposed where they will then sell at auction. From my research, Exeter uses this as a business model. This is how they operate. Lend money to low income, bad credit individuals, knowing they are setting them up for failure. They absolutely know, these loans are impossible to pay off due to the “interest on the interest” and lack of applying anything to principal. Although, I do see in the contract this is vaguely explained. In no way would I have entered into this if I understood what was to come. I have been Harrassed and intimidated by Exeter since 2017. They call if you are 1 day late and will call over 4 times per day even if you have spoken to them and set up a payment arrangement. I was told at one point to see if my car was in my driveway. They had me scheduled for repossession although I had a payment arrangement set up and was calling to make my payment. I also received no notice of this repossession. Exeter customer service is extremely unhelpful, untrustworthy, abusive, and not forthcoming with the truth of your actual situation. Per the contract, I should have received notice that I had a final payment coming up that was 14 times my normal payment of $475 month. Over $7,000. I have spoken to a supervisor who offered no explanation of the additional interest charges except it was “interest on top of interest”. Supervisor said there is no offer to work with me on paying off this loan. Only offer was 2 payments of 7 times my normal payment that I can in no way do. Exeter was involved in a class action suite in Mass & Del. for predatory business practice, unfair reporting to credit Beaurea, knowingly deceiving consumers, illegal repossessions, telephone abuse & harassment. I have read about people being driven to want to unalive themselves over the constant harassment. I completely understand. I have asked repeatedly to stop calling me when I have already spoken to you and set up a payment arrangement. They refused to stop calling. It is plain to see that Exeter is misleading and misrepresenting their loan agreement. During covid all deferrments still accrued “interest on interest”. This is loan sharking,and taking advantage of people that are already experiencing hardship. Exeter swarms in and takes complete advantage of them. There are thousands that have been affected. I am sorry that I was not better informed, sorry I trusted Exeter. I tried to always do the right thing and always caught up any late payments. Not know, it was all in vain. They will reposess your car anyway. I would have surrendered this car long ago if I knew this is what was going to happen. I actually begged them to come get it at one point due to the constant calls. I’m devastated by this conduct. 7 years to end up empty handed with a major blow to my credit. It’s appalling that after the class action suit that Exeter would change their business practices but they have not. It is too lucrative for them. Like I said, it’s their business model. Any state or federal government that is not investigating these predatory practices are doing a disservice to their people. Anyone can look at my situation and thousands just like me can see a serious problem in these types of practices. It needs to stop.

    Unhelpful, not forthcoming, almost like they were smiling. They do this everyday. They understand exactly what’s going on and are a part of keeping customers paying month after month for 72 months only to take their vehicle. Vehicles that have indeed been payed for at least 2 times over. Charging $41,000 for a $17,000 car is criminal. I don’t care what loop hole or finance wording you used to make it “legal”. It’s not, it’s criminal and they are aware and don’t care.

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