Exeter Finance Review – Preying on Credit-challenged Customers

Exeter Finance (ExeterFinance.com) is a loan company that gives loan-sharking a whole new meaning.

By every account, Exeter are out to scam their clients and they do so in impressively varied ways.

What makes matters still worse as far as the reputation of this business is concerned, is that they prey on those who have made mistakes in the past and are stigmatized by bad credit scores.

Exeter Finance have built a business upon targeting those with poor credit scores, promising them “advantageous” loans and the opportunity to radically improve their ailing credit scores.

Focused on vehicle loans, Exeter Finance work with franchise dealerships, they accept applications though phone and email (or through their website – exeterfinance.com), and they provide funding within 24-48 hours, upon completion of the required verification procedures.

So far so good.

This is where the fun stuff begins though for those sucked into this vehicle loan scheme.

A simple search will reveal scores of complaints regarding the incompetence of Exeter Finance staff, their abusive handling of payments and their active attempts to prevent their clients from refinancing elsewhere, under better terms.

What exactly is wrong with Exeter Finance?

While some of the people behind the complaints obviously do not understand how loans (and the inevitable interest) are supposed to work, there is definitely something fishy about this operation.

Some of the issues Exeter clients have complained about include:

  • Allegations of fraud (without further details)
  • Overall incompetence resulting in disastrous damage inflicted upon client credit scores
  • Agreements concerning payment terms that are never entered into the system
  • Payments made on time not registered.
  • Late fees charged on payments made on time.
  • Late payments reported when all payments are made on time (fraudulent reporting)
  • Predatory lending
  • General disarray at every level of the company
  • Bad customer service
  • Zero flexibility in regards to renegotiating
  • Errors in the calculation of payments and interest.

Long story short: Exeter Finance is apparently every client’s nightmare.

The operation is a bit like the mob: once it sucks someone in, it won’t let him/her go until thoroughly fleeced of every last cent.

How can you tell that these guys are scammers, without actually signing up and experiencing it first hand?

At this point, to say that Exeter Finance’s reputation is abysmal, would be a major understatement.

The internet is full of the complaints of their ex- and current clients, and the picture painted by these complaints is not least bit ambiguous.

The BBB (Better Business Bureau) page of the operation is a great starting point in this regard.

According to this page, Exeter Finance is based at 222 Las Colinas Blvd W Ste 1800, Irving, TX 75039-5438.

The business was launched in 2006 and a certain Mr. Brad Martin is its COO.

While the BBB rating of the company is A+ for some reason, of the 38 reviews posted on the page, 35 are negative and 3 are positive. That’s a 92% negative response-rate.

Indeed, there are 423 complaints posted as well.

Other customer protection-focused websites yield similar results for Exeter Finance.

Everyone is up in arms about these guys and if the threats posted by defrauded clients are to be believed, the operation probably has several ongoing class action lawsuits to deal with.

Exeter Finance’s general MO

As said above, the operation targets those with bad credit-scores.

Such people are more likely to accept the abysmal conditions offered on their loans.

Several people have said in their complaints that while they were aware what they were getting into, they still did it for lack of other options.

Once hooked, the loan-provider views its clients as golden egg-laying geese, and it holds on to them, trying to milk them every step of the way, through the practices listed above.

Indeed, Exeter Finance will do everything to prevent their clients from paying their way out of their loans or from refinancing with someone else.

They achieve this by pretending to be clueless and incompetent, or by hiring staff that is indeed as clueless and incompetent as they want them to be.

The bottom line

If you are considering getting a vehicle with Exeter Finance: don’t.

No matter how difficult you find that decision now, you will thank yourself later.

You do not want to fall victim to the scheming of this crooked operator, who will take the payments you had pushed to the back of the queue years ago and add them to your current, just to turn your loan into a bad one, even as you’re making all your payments on time.

You do not want to end up having paid them much more than the full amount of the loan, and still with about as much pending in your balance.

Just steer clear of them and stop considering them as a possible (albeit bad) solution for your momentary needs.


  1. Andrea Terrazas

    Please let me know if anyone proceeds with law suit to get the money back so I can follow I’m gonna try under Texas law regarding loan details so I’ll keep you posted

  2. Katrina May

    We learned the hard way. Came and got my car after only 20 days late. Quoted for us to get it back $1,200. We call back when we have gathered the amount only to find now it is $1,750 to get my car back. We had made a payment on the 10 days after it was late and they still repossessed my car. Now I see why, they are scamming me out of money.

  3. Pete

    27.4% They Suck Don’t do it!!!!!!!!!!

  4. John Loughman

    I learned the hard way. Dont let them get you. They are not flexible at all. I guess they live in a perfect world. The rest of us dont.

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