Westlake hit a record of 40,000 deals in one month.Westlakes expands into Canada with a strategic partnership with Axis Auto Finance.
2018
Westlake Portfolio Management (WPM), a third-party servicing company, is established.
2017
Westlake expands its investment footprint with the acquisition of Credit Union Leasing of America (CULA).Westlake starts originating loans in Puerto Rico.
2014
Westlake launches partnership with Kawasaki and begins financing PowerSports vehicles.Developed a partnership with Enterprise Car Sales.Acquired Western Funding Incorporated
2013
Integrated with Dealertrack and expanded the relationship with RouteOne Integration for franchise dealersReceived the “Largest Fastest Growing Private Company” award by the L.A. Business JournalEstablished Westlake Flooring Services division to provide dealerships with flooring lines of creditSigned 15,000 dealers and funded more than any other year with $1.3 Billion in purchase contracts
2012
Developed a partnership with CarmaxRanked the 51st Fastest Growing Private Company by the L.A. Business JournalEstablished Westlake Services and Lending Solutions (WSLS) division to provide leads to partner dealerships
2011
Subsidiary 1(800) Car-Title celebrated its 10 Year AnniversaryRanked the 63rd Largest and 80th Fastest Growing Private Company by the L.A. Business JournalStarted loan originations in Massachusetts, making Westlake a 50-state national lenderPortfolio reached $1 billion dollars in total receivables with more than 150,000 accountsJapanese conglomerate Marubeni Corporation invested $250 million dollars taking a 20 percent ownership stake in Westlake
2010
Achieved 10,000 deals in one monthEstablished portfolio acquisition division called Advanced Lending and Portfolio Services (ALPS)
2009
Awarded Auto Finance Company of the Year from Ford Motor Credit & Chase BankIntegrated with RouteOne’s credit application management systemReached 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
Established title loan subsidiary called 1(800) Car-TitleDeveloped Windows version of Buy Program™ to include the Auto Calculation of Discount
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™
1978
Westlake Financial Services was founded as the Buy-Here-Pay-Here division of the Hankey Automotive Group.
