Vehicle loan or lease -- Managing the loan or lease -- Complaint #13834162
Complaint Overview
Complaint ID: 13834162
Company: Exeter Finance, LLC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Problem with the interest rate
State: Michigan
ZIP Code: 48864
Date Received: 2025-06-01T12:00:00-05:00
Date Sent to Company: 2025-06-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Summary of Complaint : This formal complaint is submitted regarding potential violations of the Truth in Lending Act ( TILA ) and ongoing servicing irregularities with the lending, processing and servicing of Exeter Finance LLC, XXXX XXXX XXXX XXXX, TX XXXX auto loans. Despite over XXXX payments made, our loan has only reduced principal by approximately {$4000.00} - far below the expected amortization progress for a 25 % APR loan with {$380.00} monthly payments ; based on forensics report the current rate being charged to the consumer is around 33.26 % APR which would extend the duration to 140 months ( 11 year 8 months ). Issues of Concern : XXXX. First payment made on XX/XX/year> was applied entirely to interest. XXXX. The contract fails to clearly disclose interest accrual start date. XXXX. Loan amortization does not follow the XXXX/360 model reflected in standard disclosures. XXXX Credit reporting has been delayed or inconsistent, negatively affecting borrower credit. XXXX. Several payments have erratic interest/principal splits without clear rationale. XXXX. The structure appears to benefit servicers/investors during early cash flow phases, not consumers.
Frequently Asked Questions
What is Complaint #13834162 about?
Complaint #13834162 was filed against Exeter Finance, LLC. regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2025-06-01T12:00:00-05:00.
How did Exeter Finance, LLC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Exeter Finance, LLC.?
Yes, visit the Exeter Finance, LLC. company profile at readthecomplaint.com/company/exeter-finance-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.