Exeter Finance LLC announced it will extend its lending reach into the near-prime credit spectrum, effective immediately. Traditionally a non-prime lender since its founding in 2006, Exeter has now launched its new near-prime program, ExeterPlus, to auto dealers nationwide.
“We’re excited that after establishing a track record of success in non-prime auto financing over the past 15 years, Exeter has launched its new near-prime program, ExeterPlus. The program will offer dealers flats, an extended max term and increased back-end,” said Exeter President and Chief Operating Officer Brad Martin.
Martin noted that Exeter has helped more than 1 million customers purchase the vehicles they need since 2006. Now, he said the company is looking forward to helping its next million customers through competitive offerings that are right for them — and for its dealer partners as well.
Exeter’s announcement follows the closing of the company’s sale to an investor group led by Warburg Pincus. Terms of the private transaction were not disclosed. Jason Grubb continues as CEO and is a meaningful investor in the company, alongside Martin and the rest of the current Exeter management team.
For more information, visit www.exeterfinance.com and www.warburgpincus.com.
