Exeter Dealer Agreement: An Overview

If you are a car dealer, you may have heard about the Exeter Dealer Agreement. It is a contract that some dealers sign with Exeter Finance LLC, a subprime auto lender based in Texas. In this article, we will discuss the Exeter Dealer Agreement, its terms and conditions, and what it means for car dealers.

What is Exeter Finance LLC?

Exeter Finance LLC is a financial institution that provides financing to subprime borrowers who have difficulty getting approved for traditional loans. The company was founded in 2006 and has since grown to become one of the largest subprime auto lenders in the United States. Exeter Finance LLC is based in Irving, Texas, and has regional offices in California, Georgia, and Illinois.

What is the Exeter Dealer Agreement?

The Exeter Dealer Agreement is a contract that some dealers sign with Exeter Finance LLC. The agreement outlines the terms and conditions under which the dealer can sell cars to subprime borrowers who obtain financing through Exeter Finance LLC. The agreement also sets out the dealer`s responsibilities and obligations to Exeter Finance LLC.

What are the terms and conditions of the Exeter Dealer Agreement?

The Exeter Dealer Agreement includes several terms and conditions that dealers must follow. These terms and conditions include:

1. Compliance with laws and regulations: Dealers must comply with all applicable laws and regulations related to the sale of cars and financing.

2. Submission of accurate information: Dealers must provide accurate information about the vehicles they sell and the borrowers they work with.

3. Delivery of vehicles: Dealers must deliver the vehicles to borrowers in a timely and professional manner.

4. Payment of fees: Dealers must pay any fees associated with the Exeter Dealer Agreement, such as origination fees and servicing fees.

5. Repossession: If a borrower defaults on their loan, Exeter Finance LLC may repossess the vehicle. Dealers must cooperate with Exeter Finance LLC in the repossession process.

What does the Exeter Dealer Agreement mean for car dealers?

The Exeter Dealer Agreement can provide car dealers with access to a new pool of customers who may not qualify for traditional financing. However, dealers must follow the terms and conditions of the agreement to avoid any penalties or legal action. Additionally, dealers must ensure that they are providing accurate information and delivering vehicles in a timely and professional manner to maintain a positive reputation with their customers and Exeter Finance LLC.

Conclusion

The Exeter Dealer Agreement is a contract that some car dealers sign with Exeter Finance LLC. The agreement outlines the terms and conditions under which the dealer can sell cars to subprime borrowers who obtain financing through Exeter Finance LLC. Dealers who sign the Exeter Dealer Agreement must comply with all applicable laws and regulations, provide accurate information, and deliver vehicles in a timely and professional manner. While the agreement can provide dealers with access to a new pool of customers, it is important to follow the terms and conditions to maintain a positive reputation and avoid any penalties or legal action.