Westlake History

(1978 to present)

  • 2014 Developed a partnership with Enterprise Car Sales.
  • 2014 Acquired Western Funding Incorporated
  • 2013 Signed 15,000 dealers and funded more than any other year with $1.3 Billion in purchase contracts
  • 2013 Integrated with Dealertrack and expanded the relationship with RouteOne Integration for franchise dealers
  • 2013 Established Westlake Flooring Services division to provide dealerships with flooring lines of credit
  • 2013 Received the “Largest Fastest Growing Private Company” award by the L.A. Business Journal
  • 2012 Developed a partnership with Carmax
  • 2012 Ranked the 51st Fastest Growing Private Company by the L.A. Business Journal
  • 2012 Established Westlake Services and Lending Solutions (WSLS) division to provide leads to partner dealerships
  • 2011 Ranked the 63rd Largest and 80th Fastest Growing Private Company by the L.A. Business Journal
  • 2011 Started loan originations in Massachusetts, making Westlake a 50-state national lender
  • 2011 Portfolio reached $1 billion dollars in total receivables with more than 150,000 accounts
  • 2011 Japanese conglomerate Marubeni Corporation invested $250 million dollars taking a 20 percent ownership stake in Westlake
  • 2011 Subsidiary 1(800) Car-Title celebrated its 10 Year Anniversary
  • 2010 Achieved 10,000 deals in one month
  • 2010 Established portfolio acquisition division called Advanced Lending and Portfolio Services (ALPS)
  • 2009 Awarded Auto Finance Company of the Year from Ford Motor Credit & Chase Bank
  • 2009 Integrated with RouteOne’s credit application management system
  • 2009 Reached milestone of 100,000 customers
  • 2008 Achieved more than $1,000,000 in recovery
  • 2007 Subsidiary 1(800) Car-Title originates $1 million in a month
  • 2006 Achieved business with 1,000 dealers
  • 2002 Improved Buy Program™ to begin parsing bureau for auto scoring
  • 2001 Developed Windows version of Buy Program™ to include the Auto Calculation of Discount
  • 2001 Established title loan subsidiary called 1(800) Car-Title
  • 1999 Achieved 1,000 deals in one month
  • 1998 Implemented “Preferred” and “Platinum” programs and a profit-sharing ProfitBuilder™ program was added
  • 1997 Launched the internet-based “under-writing” system using to track the flow of contracts from start to finish in a real-time basis via DealerCenter website
  • 1995 Experienced 35% portfolio growth with the implementation of the DOS-based Buy Program™ that generated approvals 24/7/365 with terms that the dealer controlled
  • 1994 Introduced the first “non-recourse” Buy Program™ to Southern California dealers, phasing out origination of “service only” portfolios
  • 1991 Developed a more refined version of The Buy Program™ and began offering servicing and collections of accounts to selected franchise dealers throughout Los Angeles on a “full recourse” basis
  • 1986 Implemented the first Buy Program™ allowing sales managers to approve the deals without having to wait for Westlake to get back to them
  • 1978 Westlake Financial Services was founded as the Buy-Here-Pay-Here division of the Hankey Automotive Group. Initially a captive entity of three downtown Los Angeles franchise dealerships, Westlake has since grown into one of the largest and most experienced servicer of sub-prime automotive contracts in the United States.