Vehicle loan or lease -- Incorrect information on your report -- Complaint #17875060
Complaint Overview
Complaint ID: 17875060
Company: Exeter Finance, LLC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Incorrect information on your report
Sub-Issue: Account status incorrect
State: District of Columbia
ZIP Code: 20003
Date Received: 2025-11-24T12:00:00-05:00
Date Sent to Company: 2025-11-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am disputing the accuracy and completeness of Exeter Finances reporting on my auto loan. The account is being reported as a repossession/charge-off with multiple late payments, but this is misleading and does not reflect the actual circumstances of the loan. I purchased a vehicle that had major mechanical defects almost immediately. The dealership sold me two defective vehicles back-to-back. The first vehicles transmission failed within a week, and the dealer replaced it with another vehicle that had severe oil consumption problems and would shut off while driving. The vehicle became unsafe and inoperable. Because of these mechanical and safety issues, I was forced to surrender the vehicle. The delinquency and repossession did not occur due to neglect or misuse ; they were the direct result of undisclosed defects and the vehicle becoming unsafe to drive. Exeter Finance is reporting this account as a standard delinquency, repossession, and charge-off without noting the involuntary/forced surrender due to mechanical failure. This makes the reporting incomplete and misleading under the Fair Credit Reporting Act. I am requesting that Exeter Finance : Fully investigate this account Verify each delinquency entry Correct or remove any information that can not be fully verified Correct the account status to accurately reflect the forced surrender due to mechanical defects Consider deletion of the entire tradeline due to the defective vehicle issues that caused the default Additionally, the balance Exeter reports to the credit bureaus ( {$19000.00} ) does not match the balance shown when I log in to my Exeter account ( {$15000.00} ), which further indicates inaccurate and inconsistent reporting. The current reporting is misleading and does not meet FCRA standards for accuracy and completeness.
Frequently Asked Questions
What is Complaint #17875060 about?
Complaint #17875060 was filed against Exeter Finance, LLC. regarding Vehicle loan or lease specifically about Incorrect information on your report. It was received by the CFPB on 2025-11-24T12:00:00-05:00.
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.