Exeter Finance Repossession Policy Explained

Having a late or missed car payment can leave you wondering what the consequences are and if you're in danger of repossession.

Exeter Finance will usually consider vehicular repossession when payments become three or four months late.

Car being loaded onto a tow truck during repossession

It’s important to note that Exeter Finance handles all repossessions individually, so the exact timing will vary by customer and contract.[1]

If Exeter Finance repossesses your car, you may be able to recover it by paying all outstanding payments and fees.[1]

Find out more about Exeter Finance’s repossession policy below, including its grace period, deferred payments, and how to recover a repossessed vehicle.

Exeter Finance Repossession Policy

Exeter Finance handles late payment penalties and repossessions on a case-by-case basis, depending on the customer’s specific loan agreement, payment history with the company, and state laws.[1]

Exeter Finance doesn’t publicize its repossession policies. However, I spoke with corporate customer service representatives to find out more about the repossession process.

Grace Period

Exeter Finance offers a grace period following the payment due date before it charges a late fee. The exact grace period varies depending on state laws.[1]

The company begins contacting customers by phone and email after the first missed payment and may begin a repossession when you become three or four months behind on payments.[1]

Keep in mind that repossession laws vary by state and may impact the timeline of a repossession. See more on the vehicle repossession laws by state.

Repossession Process

Once Exeter Finance initiates a repossession, the only way to stop it is to catch up on all late payments and associated fees, including late fees.[1]

If you don’t pay the amount that you owe, a repossession agent can tow the vehicle from almost any location — your home, your workplace, or a parking lot. See more on how car repossession works.

Recovering a Repossessed Vehicle

You may be able to get your car back after Exeter Finance repossesses it.[1]

In most cases, you’ll need to make all missed payments and pay any fees associated with the repossession process. These include late fees, towing, storage, and processing fees.[1] (See more about repossession fees.)

If you make these payments, Exeter Finance may reinstate your loan and return the vehicle.[1]

However, this can vary by state and how much time has passed since the repossession. For example, you can’t get a vehicle back once Exeter Finance has auctioned it off.[1]


To help you avoid repossession, Exeter Finance may offer deferred payments or deadline extensions if you contact the company before missing a payment.[2][3][1]

You can find out if you’re eligible by calling (800) 321-9637. Note that you can request a payment deferral up to eight times throughout the duration of the loan.[1]

Be aware that interest will still accrue and deferred payments will prolong your loan repayment schedule by the length of the extension.[2][3][1]

Tip: Before missing a payment, you might also want to consider refinancing your loan, which can help lower your monthly payment and interest charges and allow you to pay off the loan faster.[4] You can’t refinance directly with Exeter Finance, but various banks and credit unions (including Capital One, Bank of America, Ally Bank, and more) offer refinancing loans.[2][5][6][7]


When does Exeter Finance report late payments to the credit bureau?

Exeter Finance reports late payments to the credit bureau at the end of each month.[2][1]

Is it better to voluntarily surrender a car than to go through a repossession?

No, the consequences are the same for both voluntary and involuntary repossession.[1]

Does Exeter Finance put trackers on the vehicles it finances?

No, Exeter Finance only handles the financing of vehicles. It doesn’t put trackers on them.[1]

In Summary

Exeter Finance’s grace period and late payment time frames and penalties vary by customer, contract, and state laws.[1]

However, if you missed payments for three or four months, it may repossess your vehicle.[1]

You may be able to get a vehicle back after repossession by taking care of all late payments and associated repossession fees.[1]

You may also want to consider refinancing your loan if you feel this is your best option to help lower payments and interest rates.[8][4]

Be sure to share any questions or comments you have about Exeter Finance’s repossession policy in the comments section below.

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