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Exeter Finance: Cherry Hill, NJ – A Hub for Auto Financing

Exeter Finance has a significant presence in Cherry Hill, New Jersey, serving as a key location for their operations. While Exeter Finance is a national company focused on indirect auto financing, understanding their role in the Cherry Hill community provides insight into their business model and impact.

What Exeter Finance Does

Exeter Finance specializes in providing auto financing to individuals who may have difficulty obtaining loans from traditional banks and credit unions. This often includes those with less-than-perfect credit histories. They partner with franchised and independent auto dealerships across the country, enabling them to offer financing options to a wider range of customers.

In essence, Exeter Finance acts as a lender, purchasing retail installment contracts from dealerships. This allows the dealerships to sell cars to customers who require financing, while Exeter Finance manages the loan repayment process. Their services include loan origination, servicing, and collections.

The Cherry Hill Office

The Cherry Hill office likely houses various departments crucial to Exeter Finance’s operations. This could include loan servicing, customer support, collections, and possibly some aspects of risk management and compliance. It’s important to note that specific departmental functions may vary and are subject to change based on the company’s evolving needs.

The presence of Exeter Finance in Cherry Hill brings job opportunities to the local community. Positions may range from entry-level customer service roles to more specialized positions in finance and collections.

Impact on the Auto Market

Exeter Finance plays a role in facilitating auto sales, particularly for individuals who might otherwise be unable to purchase a vehicle. By providing financing options, they contribute to the overall volume of car sales in the region and beyond. This access to financing can be crucial for individuals needing reliable transportation for work, family obligations, and other essential activities.

Important Considerations

It’s important for consumers considering financing through Exeter Finance to carefully review the terms and conditions of the loan agreement. This includes understanding the interest rate, repayment schedule, and any associated fees. Borrowers should also ensure they can comfortably afford the monthly payments to avoid potential financial difficulties.

Like any financial institution, Exeter Finance is subject to regulatory oversight and compliance requirements. They must adhere to federal and state laws related to lending practices and consumer protection.

Conclusion

Exeter Finance’s office in Cherry Hill, NJ, represents a significant part of their national auto financing operation. While focused on indirect lending, their presence contributes to the local economy and provides financing options that can help individuals purchase vehicles. However, responsible borrowing practices and a thorough understanding of loan terms remain crucial for consumers utilizing their services.

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