The Industry's Leading Source For F&I, Sales And Technology

Finance

Westlake Financial Reaches $2 Billion Milestone

August 19, 2014

LOS ANGELES — Westlake Financial Services has reached a significant milestone of $2 billion in total receivables with more than 270,000 customer accounts. The achievement was met in July 2014, which was the best production for July in Westlake history.

“Having a portfolio of $2 billion dollars is a huge accomplishment,” said Don Hankey, chairman of Westlake Financial Holdings. “It is a reflection of all the hard work of our dedicated employees as we continue to strive to grow every year and provide products that allow our dealer partners to help finance all customers.”

This milestone shows tremendous growth in the company. During the economic recession Westlake reached $450 million in 2009 and $1 billion in 2011. Westlake officials attribute the company’s success to its flexible products, diverse services, technology, financial partners, lasting relationships with independent dealers and expanding service into the franchise market.

“We continue to focus on providing robust and flexible financial products for our customers, and that continues to help us in the market,” said Ian Anderson, group president of Westlake Financial Holdings. “In 2009, we were a $450 million dollar company, and now we are five times that size because of our employees and our dealer partners.”

Westlake Financial Services is continuing to focus on building dealer relationships in all 50 states. Westlake partners with Nowcom to provide automated full spectrum financial products and dealer management systems through DealerCenter.

Your Comment

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

CLOSE [X]

READ NEXT

TrueCar Posts Record Revenue in Q2

For the first time in company history, TrueCar posted revenues exceeding $50 million. The feat was attributed to gains in the firm’s dealer count, market share and transactions.