Westlake Financial
Westlake Financial is a comprehensive auto financing company providing a range of services including loan pre-qualification, dealer financing, and vehicle remarketing across a network of over 50,000 dealerships in the United States.
Services
Westlake Financial offers a wide range of auto financing options, including pre-qualification for auto loans, free credit score checks, and payment management through their MyAccount service. The company also provides financing solutions to both customers and dealers, covering the full spectrum from prime to subprime lending. Additional services include GAP waivers, dealer lead programs, vehicle remarketing, and secured loans through their affiliate, LoanCenter. For military personnel, Westlake Financial supports benefits under the Servicemembers Civil Relief Act (SCRA), which include reduced fees and special handling of accounts.
Dealer Network
Westlake Financial operates through an extensive network of over 50,000 new and used car dealerships throughout the United States. This extensive reach allows them to provide comprehensive financing solutions to a broad customer base. They also offer a Dealer Lead Program, pre-qualified leads, flooring services through Westlake Flooring Services, and a Buy Program that provides instant credit decisions and customizable financing terms. Additional dealer-focused services include remarketing solutions to manage and sell vehicle inventory through national auction partnerships and eContracting for faster funding via digital contract submissions.
Technology Platforms
Westlake Financial utilizes advanced technology platforms to streamline loan origination and account management processes. Key platforms include DealerCenter and RouteOne, which facilitate efficient and accurate loan processing. The company also provides an online auto loan calculator to help customers estimate monthly costs and maximum loan amounts. GPS tracking solutions for vehicles are offered through GlobalTrack GPS, enhancing vehicle security and management for dealers.
Commercial and Secured Loans
Westlake Financial's affiliate, LoanCenter, provides a variety of secured loans, such as car title loans, motorcycle loans, and RV title loans. Additionally, Westlake Capital Finance offers commercial real estate loans, floor plan financing, and revolving credit lines aimed at helping dealerships manage their inventory and operational expenses. These financial products are designed to support both personal secured lending needs and commercial financing requirements for automotive dealers.
Third-Party Loan Servicing
Westlake Financial engages in third-party servicing of auto loans through Westlake Portfolio Management. This service involves managing back-end operations such as customer service, collections, and title administration. By offering comprehensive third-party loan servicing, Westlake Financial ensures efficient handling of loan portfolios, benefiting both lenders and borrowers.