Vehicle loan or lease -- Managing the loan or lease -- Complaint #14912336
Complaint Overview
Complaint ID: 14912336
Company: Exeter Finance, LLC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Billing problem
State: North Carolina
ZIP Code: 28054
Date Received: 2025-07-27T12:00:00-05:00
Date Sent to Company: 2025-07-27T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I currently have my vehicle financed through Exeter. Several months ago, I attempted to trade in the vehicle and was informed by multiple dealers that it had negative equity. When I visited another dealer this month, I was told the negative equity had increased since my previous visit. Following my initial trade-in inquiry, I contacted Exeter by phone to verify the loan balance and payment application. I was alarmed to learn that only about 25 % of my monthly payments, after a full year of timely payments, were being applied toward the principal balance, with the remaining 75 % going toward interest. I am contacting the CFPB to demand a thorough review to ensure my payments have been applied correctly. If the payments have been misapplied, I expect immediate correction. Improper application of payments directly increases my negative equity, which is unacceptable.
Frequently Asked Questions
What is Complaint #14912336 about?
Complaint #14912336 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 2025-07-27T12:00:00-05:00.
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.