Westlake Financial announces rates as low as 1.99%
Enter Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
LOS ANGELES – (BUSINESS WIRE) – Westlake Financial announces new rates as low as 1.99% for primary customers. Previously, the lowest rate offered by Westlake was 2.99%.
“Lowering our rates to 1.99% solidifies our presence in the blue chip credit space,” said David Goff, vice president of marketing at Westlake Financial. “Westlake continues to focus on creating full spectrum lending solutions that dealers can count on. We want dealers to think of Westlake when working with Preferred Customers, just like they think of Westlake when working with subprime and near-prime customers.
Westlake continues to experience strong growth with its prime and near prime rate arrangements while maintaining strong growth in the subprime loan portfolio. Westlake’s blue chip loan origination grew 6% in 2020 and is the fastest growing segment of its portfolio. The Westlake Prime program offers competitive rates, the fewest tips and the fastest financing times, including financing times as short as an hour.
“Our team has worked hard to develop a program that is not only competitive in the market, but also a great complement to existing Westlake programs,” said Sara Hosseiny, assistant vice president of business strategy and analytics. “Its success is evident in the rise of dealer engagement and in the even stronger performance of the portfolio. ”
Westlake Financial is an indirect auto finance company that works with franchised and independent dealerships nationwide. Dealers interested in registering with Westlake Financial are encouraged to contact Westlake directly at 1.888.893.7937 or online at www.westlakefinancial.com.
About Westlake Technology Holdings
About Westlake Technology Holdings: Westlake Technology Holdings is an automotive and financial technology company headquartered in Los Angeles, California with approximately $ 12.14 billion in assets under management. Westlake Financial (“Westlake”) is the originator of indirect retail automobile payment contracts through a nationwide network of new and used auto and powersports dealerships. Westlake also offers loan portfolio purchases, credit facilities and portfolio services through its ALPS (Advanced Lending & Portfolio Services) division, www.WestlakeALPS.com; floor plan lines of credit are provided through its Westlake Flooring Services division, www.WestlakeFlooringServices.com; the shared cash flow auto loan through Westlake’s wholly owned subsidiary, Western Funding Inc., a Nevada-based auto lender; indirect auto leasing for credit unions through Westlake’s subsidiary, Credit Union Leasing of America (CULA); Dealer leads and direct-to-consumer auto loans are offered by Westlake Direct; consumer securities loans are offered through Westlake’s wholly owned subsidiary, Loan Center, www.loancenter.com; and commercial real estate loans are offered by Westlake Capital Finance.
David Goff, Vice-President, Marketing
Source: Westlake Financial