Press Releases

Westlake Renames and Simplifies Finance Programs

June 29, 2012


LOS ANGELES, California - Westlake Financial Services, a full spectrum auto finance company,  announces the first major overhaul of its finance programs since the company was founded over twenty years ago.  Effective July 1, Westlake’s programs will be reduced from four to three, with each of the new programs becoming FICO-based, rather than structure-based as was previously the case.

The new programs are named Standard (0 – 599 FICO), Gold (600-699 FICO), and Platinum (700+ FICO).  Additionally, finance managers can make each deal “AAA” – meaning certain credit and structure criteria are met which results in a deal becoming “optimally structured” to get the lowest rates and discounts at each program level.

Westlake’s two profit-sharing programs (for BHPH-type deals) are still available: ProfitBuilder® and Partner Program.  These two programs have unique advantages which allow the dealer to choose the BHPH solution that best fits their current business model.

Below are the highlights for Westlake’s new programs, effective July 1:

Standard Program (0-599 FICO)

·  Westlake’s most popular and flexible program

·  All income types OK

·  No minimum income, job, or residence time

·  Open BKs and recent repossessions OK

·  No vehicle age or mileage restrictions

Gold Program (600-699 FICO)

· Rate participation available

· No minimum income, job, or residence time

· Open BKs and recent repossessions OK

· No vehicle age or mileage restrictions

Platinum Program (700+ FICO)

· Lower rates

· Rate participation available

· Minimal stipulation requirements

· Longer terms available

· No vehicle age or mileage restrictions

AAA Deals

· 4.99% APR, $250 fees on any vehicle age or mileage

· 15.99% APR, $750 fees available on even the lowest credit customers

· Contact Westlake to learn how to turn any Standard, Gold, or Platinum deal into AAA to get lower rates and fees

ProfitBuilder® (for BHPH-type deals)

· Control the APR as low as 1% and LTV up to 200% of book value

· Receive up to 75% of book upfront and up to 50% of customer monthly payments

· Ability to “Cash out” early for a quick infusion of cash

Partner Program (for BHPH-type deals)

· Control the APR as low as 1% and LTV up to 200% of book value

· Collect 100% of the principal balance of the loan

· No discount fee

All programs are built into the Westlake Buy Program™ found online at

“We have been listening to our dealers and are very excited to be rolling out these changes,” says Mark Vazquez, VP of Sales.  “Our dealers say they wanted things to be simplified and moving to a FICO-based model was one way of doing that.” 

Mr. Vazquez concludes by saying that “Using the Deal Wizard tool in the Buy Program takes the guesswork out of choosing the right program for each customer.  Just input the customer and car details and the wizard will optimally structure the deal in the best program that will give the lowest interest rates and discount fees.  Simplicity - it’s our theme this year.”

Dealers with questions about the Westlake program changes are directed to their Westlake representative, or call our Dealer Services Line at 1 (888) 8-YES-YES (1-888-893-7937).

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 prime automotive retail installment contracts. Headquartered in Southern California, Westlake originates indirect retail installment contracts through a network of over 15,000 new and used car dealers throughout the United States. Westlake also offers portfolio purchasing through their ALPS division (Advanced Lending & Portfolio Services).  Direct to consumer title loans and unsecured loans are done through Westlake’s wholly owned subsidiary, Wilshire Consumer Credit.  All collections and servicing are performed in-house from its central facility located in the Mid-Wilshire area of Los Angeles.


Your Comment

Please note that comments may be moderated. 
Leave this field empty:
Your Name:  
Your Email:  



DealerTrack Credit Application Network Now Exceeds 1,200 Active U.S. Lenders

Reaching a new milestone in its history, DealerTrack today announced the number of active lenders connected to the DealerTrack credit application network has exceeded 1,200 U.S. lenders.