June 17, 2024
Exeter Finances

Exeter Finances

Exeter Finances is one of the notable financial companies providing loans to borrowers in the United States of America. The company has been a reliable provider of different types of loans to assist individuals and businesses in meeting their financial needs. Like other financial institutions, Exeter Finances has a loan structure that borrowers need to understand for successful repayment. In this article, we are going to discuss how to understand Exeter Finances’ loan structure for successful repayment.

What Is Exeter Finances?

Exeter Finances is an American financial services company founded in 2006. The company’s headquarters is in Irving, Texas. The company’s primary mission is to offer loans to individuals and businesses that have difficulty accessing conventional banking services. Exeter Finances has helped thousands of people to achieve their dreams through different financing methods, including personal loans, auto loans, and mortgages, among others.

A Brief History Of Exeter Finances

When Exeter Finance was founded in 2006, the company started its operations by providing auto loans to individuals with no credit, damaged credit, or low income, who could not acquire financing through traditional banking channels. The company’s affordable financing and focus on consumer service contributed to its rapid growth, making it a competitive player in the subprime auto lending market. One of the strengths of Exeter Finance is the experienced management team, which has a proven track record in building successful financial services business.

Understanding Exeter Finances Loan Structure

Exeter Finances has different types of loans that borrowers can choose from depending on their needs, including personal loans, auto loans, and mortgages, among others. Each loan type has its requirements, terms, and conditions that borrowers need to understand before they apply. It is essential to understand the loan structure, including the repayment options available, to help increase the chances of successful repayment.

Different Types Of Loans Offered By Exeter Finances

Personal loans offered by Exeter Finance are unsecured loans, meaning that borrowers do not need collateral to secure them. The loans range from $500 to $10,000, and the repayment terms range from 12 to 48 months.

Auto loans are secured loans that require collateral, which in this case is the vehicle the borrower wants to purchase. The loan amounts range from $5,000 to $50,000, the loan term is up to 72 months, and the interest rates vary depending on the borrower’s credit rating.

Mortgages are long-term loans that are usually used to purchase a home. The loan amounts range from $50,000 to $1 million, and the repayment term is up to 30 years. The interest rates vary depending on the borrower’s credit rating and other factors, such as the location of the property.

Repayment Options And Terms

Exeter Finance offers various repayment options to borrowers, depending on their loan type. For instance, Personal loan borrowers can choose to repay their loans in monthly installments over a repayment term of 12-48 months. Auto loan borrowers can also make payments in monthly installments, and the repayment term can be up to 72 months. Mortgage loans can be repaid over a more extended period, and the terms can be up to 30 years.

Borrowers can pay their loans online, by mail, or through automatic payments. Borrowers can also make payments using a debit card, electronic fund transfer, or check.

It is essential to read and understand the loan’s terms and conditions before signing the loan agreement. Borrowers should look out for any hidden fees, including late payment penalties, origination fees, and prepayment fees.

Tips for Successful Repayment

Successful loan repayment requires careful planning and management of finances. Here are some tips to help borrowers manage their loans and pay them off on time.

Budgeting And Managing Finances

Creating a budget is essential when repaying a loan, regardless of the loan type. The budget should include income, expenses, and loan payments. The borrower should allocate more money towards loan payments to reduce the loan balance faster. The borrower should also prioritize loan payments over other expenses to avoid defaulting.

Early Repayment And Avoiding Penalties

Borrowers who can afford to should consider paying off their loans early to save on interest payments. Most loans have prepayment penalties, and borrowers should read and understand the loan agreement before making early repayments. Paying down the loan early not only saves money, but it can also help improve the borrower’s credit score.

Borrowers should also be careful not to default on their loans as this can lead to penalties and the loan being sent to a collection agency, negatively impacting their credit rating.


Exeter Finance has been providing loans to individuals and businesses for many years, helping them achieve their financial goals. Understanding the loan structure is essential to successful repayment. Borrowers should carefully read and understand the loan agreement, repayment terms, and conditions, including interest rates, penalties, and fees. They should also develop a budget that prioritizes loan payments and avoid defaulting on their loans to maintain a good credit rating.

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