Regional Acceptance Corporation

Regional Acceptance Corporation is an auto finance company headquartered in Greenville, North Carolina. It is a subsidiary of Truist Financial Corporation, a major US bank, and focuses on non-prime auto lending through a network of franchised and independent automobile dealerships across the United States.

Regional Acceptance targets borrowers who fall below the credit standards required by prime lenders but are above the deep subprime tier. This non-prime segment includes consumers with moderate credit impairments, limited credit history, or prior delinquencies that prevent them from qualifying for conventional financing through banks or credit unions. Because this borrower group represents higher lending risk, interest rates on non-prime loans are higher than those available to prime borrowers.

Consumers typically encounter Regional Acceptance Corporation financing through a dealership's finance and insurance office rather than through a direct application. The dealer submits applications to multiple lenders, and Regional Acceptance may provide approvals for non-prime applicants alongside or instead of prime lenders. Buyers should ask which finance companies have been considered and obtain a complete summary of all loan terms before agreeing.

The fact that Regional Acceptance is owned by Truist, a large established bank, provides some institutional backing, though the loan terms still reflect the non-prime market they serve.

Before accepting any loan arranged through Regional Acceptance Corporation, consumers should review the annual percentage rate, loan term, monthly payment, and total repayment amount carefully. Consumers should also explore all available alternatives, including any credit unions they may be eligible to join, before committing to a non-prime auto loan.