Vehicle loan or lease -- Managing the loan or lease -- Complaint #9197610
Complaint Overview
Complaint ID: 9197610
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: California
ZIP Code: 930XX
Date Received: 2024-06-06T12:00:00-05:00
Date Sent to Company: 2024-06-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
Exeter finance employs predatory lending practices. Loan terms are not explained clearly and provided at a very high interest rate, making the vehicle double the price at the end of the term. It is my opinion their service representatives are trained to use confusing language so they can avoid answering questions to desperate customers who need to finance a vehicle. This is exactly what I have experienced. In fact when questioned, the representative could not explain why by even the terms she was trying to explain, the math did not equate. This is a ploy to confuse customers who are stuck in a high interest rate loan in which they will never. Be able to pay off. None of the payment goes towards the principle of the loan.
Frequently Asked Questions
What is Complaint #9197610 about?
Complaint #9197610 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 2024-06-06T12:00:00-05:00.
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.