When Does Exeter Finance Repossess Your Car? Timeline + Options

Exeter Finance repos cars after you miss 3-5 monthly payments, though the exact timeline depends on your state's laws and your contract terms. If you're 60 days behind, you're in the danger zone. Once you hit 90 days, repossession becomes likely.

That's the short answer. The longer one involves understanding how subprime lenders like Exeter operate, what your legal rights are, and what you can actually do before a tow truck shows up in your driveway at 6 a.m.

How Exeter Finance Repossession Works

Exeter Finance is the fourth-largest subprime auto lender in the U.S. They specialize in lending to people with credit scores under 600, which means higher interest rates—often 20% to 28% APR,and stricter default terms. When you sign that loan, you agree that Exeter holds a security interest in the vehicle. Miss enough payments, and they can take it back.

Most auto loan contracts become delinquent the day after you miss a payment. But Exeter doesn't immediately repo your car. They start with calls and letters. Around 30 days past due, you'll get collection calls. At 60 days, you'll receive a formal notice. By 90 days, repossession is on the table.

Here's what triggers the process:

• Consecutive missed payments: Three to five months without paying is the typical threshold.
• Breach of contract: Some contracts allow repossession after a single missed payment if other terms are violated (like failing to maintain insurance).
• State law variations: Some states require written notice before repossession; others don't.

Exeter uses third-party recovery agents to repossess vehicles. These agents can take your car from your driveway, a parking lot, or even your workplace,anywhere it's accessible without "breaching the peace." They cannot break into a locked garage, threaten you, or use force.

Your Legal Rights During Repossession

You have rights, even if you're behind on payments. Exeter and their recovery agents must follow both federal and state laws.

What They Can Do

• Repossess your car without prior notice in most states
• Sell your car at auction to recover the debt
• Sue you for the deficiency balance (the difference between what you owe and what the car sells for)

What They Cannot Do

• Break into a locked garage or gate
• Threaten you or use physical force
• Take your personal belongings from the car (though they can hold them for pickup)
• Repossess your car if you've filed bankruptcy without court permission

If Exeter or their agent violates these rules, you may have grounds to sue under the Fair Debt Collection Practices Act (FDCPA) or state consumer protection laws.

What Happens After Exeter Repos Your Car

Repossession doesn't end your obligation. Here's what comes next:

1. Storage fees start immediately: You'll owe daily storage fees while the car sits in the recovery lot.
2. Notice of sale: Exeter must notify you before selling the car, usually within 10-20 days depending on your state.
3. Public or private sale: The car is auctioned, often for less than market value.
4. Deficiency balance: If the sale doesn't cover your loan balance plus fees, you owe the difference.
5. Credit damage: Repossession tanks your credit score by 100+ points and stays on your report for seven years.

For example, say you owe $12,000 on your Exeter loan. The car sells for $7,000 at auction. You're now liable for the $5,000 deficiency, plus repossession fees ($300-$600), storage fees, and legal costs. Exeter can sue you for this amount, garnish your wages, or send the debt to collections.

How to Stop Exeter Finance Repossession

You have options before the repo happens. Once you're 30 days behind, take action.

1. Reinstate Your Loan

Pay all missed payments, late fees, and penalties to bring your loan current. This is the fastest way to stop repossession, but it requires cash you may not have.

2. Negotiate a Payment Plan

Call Exeter at 800-253-9552 and ask for a modification. Some options include:

• Deferring one or two payments to the end of your loan
• Temporarily reducing your monthly payment
• Extending your loan term to lower the payment

Exeter won't advertise these options, but they'd rather modify your loan than repo your car. Be prepared to explain your hardship (job loss, medical bills, etc.) and propose a realistic payment you can afford.

3. Refinance With Another Lender

If your credit has improved since you took out the Exeter loan, you may qualify for a lower rate elsewhere. Credit unions and community banks sometimes refinance subprime auto loans. This pays off Exeter and gives you a fresh start with better terms.

4. Surrender the Car Voluntarily

If you can't afford the payments and don't need the car, voluntary repossession avoids the humiliation of having it towed. You'll still owe the deficiency balance, but you'll save on repossession fees. This is not ideal, but it's less damaging than involuntary repo if you're already resigned to losing the car.

5. File for Bankruptcy

Filing Chapter 13 bankruptcy triggers an automatic stay, which immediately stops repossession. You can then catch up on missed payments through a 3-5 year repayment plan. Chapter 7 bankruptcy discharges the deficiency balance but doesn't save the car unless you reaffirm the loan and stay current.

Bankruptcy is a last resort, but if you're facing repossession plus other overwhelming debts, it may be the best path. Check if you qualify for bankruptcy relief here.

What If You've Already Been Sued?

If Exeter repos your car and sues you for the deficiency, don't ignore the lawsuit. Failing to respond guarantees a default judgment, which means wage garnishment and bank levies.

Your options:

• File an Answer: Challenge the lawsuit if Exeter violated repossession laws or inflated the deficiency.
• Negotiate a settlement: Offer a lump sum (typically 40-60% of the balance) to settle the debt.
• File bankruptcy: Discharge the deficiency balance entirely.

If you're being sued, bankruptcy may stop the lawsuit and eliminate the debt. Talk to a bankruptcy attorney before the judgment is entered.

Exeter Finance's Reputation and Customer Experience

Exeter Finance has a 1.1-star rating on Trustpilot based on over 1,000 reviews. Common complaints include aggressive collection tactics, lack of payment flexibility, and poor customer service. Borrowers report feeling trapped by high interest rates and rigid terms.

That said, Exeter exists to serve people who can't get traditional financing. If you have bad credit, they're one of the few options. The trade-off is higher costs and less tolerance for missed payments.

When Bankruptcy Makes Sense

If you're behind on your Exeter loan and also struggling with credit card debt, medical bills, or other obligations, bankruptcy may be the best solution. Chapter 13 lets you keep the car while catching up on payments. Chapter 7 wipes out the deficiency balance and gives you a clean slate.

Bankruptcy stops repossession immediately. Once you file, Exeter cannot take your car without court permission. If they've already repossessed it, you may be able to get it back if you act fast.

Most people wait too long to consider bankruptcy. They drain savings, borrow from family, and let the debt spiral. If you're three months behind on your Exeter loan and have no way to catch up, find out if bankruptcy is right for you.

Next Steps

If you're facing Exeter Finance repossession, act now. Call Exeter at 800-253-9552 and ask about modification options. If that doesn't work, talk to a bankruptcy attorney. Most offer free consultations.

Repossession is not inevitable. You have rights, and you have options. Use them.