Consumer complaint received 2025-08-22 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: Exeter Finance, LLC.
State: CA

Complaint narrative:
I am requesting a full accounting and audit of my loan due to multiple unexplained discrepancies with how payments were applied by Exeter Finance.

1. Payment Made Early but Interest Charged Heavily ( XXXX XXXX ) : My first payment was made early on XX/XX/XXXX, yet the interest charged was high and the principal reduction was

minimal. In XX/XX/XXXX, the full {$460.00} was applied entirely to interest with {$0.00} applied to principal. This should not occur when payments are made on time.

2. XXXX  Deferment ( XXXX & XX/XX/XXXX ) : I was approved for a two-month deferment due to financial hardship during the XXXX pandemic. I was told this deferment would not result in fees and that interest would simply accrue and payments would resume in XX/XX/XXXX. 
After resuming payments on XX/XX/XXXX, my principal increased by {$500.00} ( from {$16000.00} to {$16000.00} ) an unexplained jump that I was never informed of. 
For four consecutive months ( XXXX XXXX ), my monthly payments were applied entirely to interest with no reduction in principal, even though I continued to pay {$460.00} monthly. 
3. Unexplained Increase in XXXX : In XX/XX/XXXX, my principal dropped to {$6400.00}. 
However, in XX/XX/XXXX, the balance unexpectedly increased to {$6600.00} without explanation a {$110.00} increase. I received no notice of any late fees, reversals, or adjustments to justify this.

4. Full Payment History Shows Irregularities : I have paid consistently on time, and in many months even before the due date.

The majority of the loan has followed normal amortization after XXXX, with principal steadily decreasing each month.

However, the months listed above reflect periods where Exeter applied payments in a way that resulted in excessive interest accumulation and questionable adjustments.

5. Balance Discrepancy Near Maturity : As of XX/XX/XXXX, my principal was {$2900.00}. 
I made my regular XXXX payment, reducing the balance to {$2500.00}. 
However, Exeter sent a notice dated XX/XX/XXXX stating a remaining balance of {$2900.00} due by XXXX which does not match my payment history or their previous statements. 

1.Misapplication of Payments XX/XX/XXXX : A full monthly payment was made on time ; however, {$460.00} was applied entirely to interest with no reduction in principal. This is inconsistent with normal amortization practices.

2. COVID-19 Deferment XXXX & XX/XX/XXXX : I was granted a two-month deferment with the assurance that no fees would be added and deferred payments would be pushed to the end of the loan. Upon resuming payments in XX/XX/XXXX, my principal increased from {$16000.00} to {$16000.00} without explanation. Additionally, payments made from XXXX through XX/XX/XXXX were applied solely to i

nterest. 3. Unexplained Increase XX/XX/XXXX : In XX/XX/XXXX, my balance was {$6400.00}. The following month, the balance increased to {$6600.00} a {$110.00} jump, for which no documentation or notification was provided.

Company response to consumer: Closed with explanation