Westlake Rolls out "Titanium Program" for Prime Credit Customers
September 14, 2010
LOS ANGELES, CA – Westlake Financial Services has begun the nationwide rollout of their “Titanium Program” aimed at prime credit customers. All Westlake dealers will have access to the new program beginning September 15. Program highlights include:
• APR as low as 5.99%
• Terms up to 72 months
• Multiple autos on credit report accepted
“We are very excited to provide our dealers with this new product,” says Mark Vazquez, VP of Sales. “Westlake Financial Services is now a true ‘full-spectrum’ lender. After listening to our dealers, we learned that many of our Franchise partners were looking for a prime-credit alternative for their customers. Meanwhile, our smaller Independent partners now have access to a prime program not offered by many other finance companies.”
Mr. Vazquez noted that the Titanium Program has been in beta-testing the past three months in select markets. Program guidelines include a minimum 660 FICO with no bankruptcies and at least three years on the credit bureau.
The Titanium Program marks the high-end of Westlake’s product portfolio. The Platinum Program slots directly below for near-prime customers, followed by the Preferred Program for blemished but established credit customers. The Standard Program is currently Westlake’s most popular program, followed by ProfitBuilder® and the Partner Program (for Buy Here/Pay Here-type deals that includes payment sharing). All programs are integrated into Westlake’s Buy Program® software which can automatically place a customer into the best program based on their credit report, vehicle selection, and loan structure.
“Our goal is to provide our dealers with the tools to finance every customer that walks onto their lot,” says President Ian Anderson. “With the release of our Titanium Program, Westlake Financial Services can be a dealer’s one stop shop for all of their auto financing needs.”
About Westlake Financial Services
Westlake Financial Services is an internet based, privately held finance company that specializes in the acquisition and servicing of sub-prime to near-prime automotive retail installment contracts. Headquartered in Southern California, Westlake originates indirect retail installment contracts through a network of over 9,000 new and used car dealers throughout the United States. All collections and servicing are performed in-house from its central facility located in the Mid-Wilshire area of Los Angeles.