LOS ANGELES, California — Advanced Lending & Portfolio Services (ALPS) announces strong quarterly results with a total portfolio size of $11.5 Million at the end of Q3. This represents a 2000% growth year over year.
ALPS, a division of Westlake Financial Services, specializes in portfolio acquisition and bulk purchasing of Buy Here Pay Here contracts from dealerships and other financial institutions.
“We closed a $3.4 million dollar portfolio purchase just last month,” says Scott Moles, ALPS General Manager, “and as far as I can see, the sky’s the limit.”
Looking ahead, Mr. Moles sees strong sustained growth. “Despite the economy, certain divisions within the financial markets continue to do well. Bulk purchasing is one of those divisions and it continues to be a vibrant part of the automotive financial landscape,” he says. “Dealerships looking to sell their BHPH portfolio to increase cash flow should be able to find buyers. I am confident that ALPS will end up being their final choice.”
Ian Anderson, President of Westlake Financial Services, adds that “because of the large backing Westlake is providing the division, ALPS is able to purchase portfolios in markets that the competition won’t. Heavily regulated markets like New York or smaller markets like South Dakota – we can, and do, buy there.”
Mr. Anderson concludes by saying, “We are pleased with ALPS’ growth. Scott Moles has done a great job in ramping up production and providing dealers a valuable service.”
For more information, including how to get the process started, dealerships and financial institutions can visit www.westlakefinancial.com/ALPS
or call 888-WFS-ALPS.
Advanced Lending & Portfolio Services (ALPS) is a division of Westlake Financial Services. ALPS is a bulk purchaser of Buy-Here/Pay-Here contracts from dealerships and other business organizations. All collections and servicing are performed in-house from its central facility located in the Mid-Wilshire area of Los Angeles.