Westlakes expands into Canada with a strategic partnership with Axis Auto Finance.Westlake hit a record of 40,000 deals in one month.
Westlake Portfolio Management (WPM), a third-party servicing company, is established.
Westlake starts originating loans in Puerto Rico.Westlake expands its investment footprint with the acquisition of Credit Union Leasing of America (CULA).
Acquired Western Funding IncorporatedDeveloped a partnership with Enterprise Car Sales.Westlake launches partnership with Kawasaki and begins financing PowerSports vehicles.
Received the “Largest Fastest Growing Private Company” award by the L.A. Business JournalEstablished Westlake Flooring Services division to provide dealerships with flooring lines of creditIntegrated with Dealertrack and expanded the relationship with RouteOne Integration for franchise dealersSigned 15,000 dealers and funded more than any other year with $1.3 Billion in purchase contracts
Established Westlake Services and Lending Solutions (WSLS) division to provide leads to partner dealershipsRanked the 51st Fastest Growing Private Company by the L.A. Business JournalDeveloped a partnership with Carmax
Subsidiary 1(800) Car-Title celebrated its 10 Year AnniversaryJapanese conglomerate Marubeni Corporation invested $250 million dollars taking a 20 percent ownership stake in WestlakePortfolio reached $1 billion dollars in total receivables with more than 150,000 accountsStarted loan originations in Massachusetts, making Westlake a 50-state national lenderRanked the 63rd Largest and 80th Fastest Growing Private Company by the L.A. Business Journal
Established portfolio acquisition division called Advanced Lending and Portfolio Services (ALPS)Achieved 10,000 deals in one month
Reached milestone of 100,000 customersIntegrated with RouteOne’s credit application management systemAwarded Auto Finance Company of the Year from Ford Motor Credit & Chase Bank
Achieved more than $1,000,000 in recovery
Subsidiary 1(800) Car-Title originates $1 million in a month
Achieved business with 1,000 dealers
Improved Buy Program™ to begin parsing bureau for auto scoring
Established title loan subsidiary called 1(800) Car-TitleDeveloped Windows version of Buy Program™ to include the Auto Calculation of Discount
Achieved 1,000 deals in one month
Implemented “Preferred” and “Platinum” programs and a profit-sharing ProfitBuilder™ program was added
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
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
Introduced the first “non-recourse” Buy Program™ to Southern California dealers, phasing out origination of “service only” portfolios
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
Implemented the first Buy Program™
Westlake Financial Services was founded as the Buy-Here-Pay-Here division of the Hankey Automotive Group.