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Regional Acceptance Corporation is the subprime auto lending arm of Truist, a lineage that surprises people: a lender known for high-rate dealer financing sits inside the same company as a major national bank. Based in Greenville, North Carolina, Regional Acceptance has specialized in indirect subprime and near-prime auto financing through dealerships for over 40 years, operating across more than 40 states. Its loans get approved when others will not, and they are priced accordingly.
The question that brings most people to this page is whether Regional Acceptance will lower a rate or refinance a loan, and the answer is no. There is no refinance program, and being owned by Truist does not create one: Truist's own refinance products are separate loans for separate borrowers, not a discount window for RAC customers. The realistic path to a lower rate is the same as with any subprime loan: build payment history, then refinance with an outside lender that prices your improved credit. That option gets stronger every month you pay on time.
What it does well
- Approves subprime and near-prime borrowers at the dealership
- Decades-long operating history under a large bank parent
- Standard payoff process: any outside lender can refinance you out
Where it gives ground
- No refinance program, so subprime pricing never improves on its own
- High rates typical of dealer-channel subprime financing
- The Truist connection does not unlock any Truist-bank refinance path for RAC borrowers
No. Regional Acceptance is an indirect lender: it buys subprime and near-prime loan contracts originated at dealerships. It does not offer refinancing on its own loans, and it does not have a rate-reduction program. The rate on your contract stands for as long as the loan stays with RAC.
Borrowers sometimes assume the Truist ownership changes this, but it does not. Truist sells its own refinance products through its own channels to borrowers who qualify on their own terms; there is no internal bridge that moves a Regional Acceptance loan onto Truist bank pricing.
Regional Acceptance came into the Truist family through BB&T, which merged with SunTrust to form Truist. The subsidiary continues to run its own dealer-channel subprime business from Greenville, North Carolina, with a network of regional business centers serving dealerships in more than 40 states.
For borrowers, the practical meaning is simply that RAC is an established, bank-owned operation rather than a fly-by-night finance shop. It does not mean bank-grade pricing. Subprime dealer paper is priced for risk at origination, and that pricing does not soften as your credit heals. Only a refinance does that.
Regional Acceptance cannot lower your rate. A new lender can.
Check my options nowThe mechanics are the same as any refinance: a new lender reviews your credit and payoff amount, approves a new loan at a rate matching your current profile, pays Regional Acceptance directly, and takes over the lien. Your on-time history with RAC stays on your credit report, and it is precisely that history that earns the better rate.
The usual milestones apply. Around 12 months of clean payments often moves a borrower out of deep-subprime pricing, and some refinance lenders consider scores in the 500s, so improvement does not need to be complete before you shop. A soft-pull check every few months costs nothing and tells you the moment the exit is open.
Your comparison set is any lender that refinances rebuilding credit: online refinance specialists, credit unions, and marketplaces that check many lenders at once. The spread between subprime purchase pricing and post-rebuild refinance pricing is often the largest single savings available to any borrower type on this site.
Run a marketplace check with your actual payoff and payment history. If the market cannot beat your RAC rate yet, keep paying on time and check again in a quarter. If it can, the refinance Regional Acceptance does not offer is ready when you are.
Regional Acceptance makes sense if
- Borrowers who needed dealership approval when credit options were thin
- People actively rebuilding credit with on-time payments
- Anyone treating the RAC loan as a bridge, not a destination
Look elsewhere if
- Anyone hoping Regional Acceptance will lower an existing rate
- Borrowers expecting Truist to refinance a RAC loan internally
- People with 12+ months of clean payments who have not re-shopped their rate
Frequently asked questions
Does Regional Acceptance refinance car loans?
No. Regional Acceptance finances purchases through dealerships and has no refinance or rate-reduction program for its own loans. To lower your rate, you refinance with a different lender, which pays RAC off and takes over the loan.
Is Regional Acceptance part of Truist?
Yes. Regional Acceptance Corporation is a Truist subsidiary, joining through BB&T before the Truist merger. It operates as a separate dealer-channel subprime lender, and Truist's bank refinance products are not an internal option for RAC borrowers.
How do I get out of a Regional Acceptance loan?
Refinance with another lender once your credit supports a better rate, or pay the loan off through sale or payoff. Refinancing is the standard route: the new lender pays RAC directly and the lien transfers. Many refinance lenders consider scores in the 500s.
Why is my Regional Acceptance rate so high?
RAC specializes in subprime and near-prime dealer financing, and pricing reflects credit risk at origination. The rate does not adjust as your credit improves, which is why refinancing after a stretch of on-time payments is the standard move.
Will checking refinance offers hurt my credit?
No. Comparing offers starts with a soft credit pull, which does not affect your score. A hard inquiry only happens when you proceed with a chosen lender.
