Westlake History Timeline - Westlake Financial

Westlake History

2019

Westlakes expands into Canada with a strategic partnership with Axis Auto Finance.
Westlake hit a record of 40,000 deals in one month.

2018

Westlake Portfolio Management (WPM), a third-party servicing company, is established.

2017

Westlake starts originating loans in Puerto Rico.
Westlake expands its investment footprint with the acquisition of Credit Union Leasing of America (CULA).

2014

Acquired Western Funding Incorporated
Developed a partnership with Enterprise Car Sales.
Westlake launches partnership with Kawasaki and begins financing PowerSports vehicles.

2013

Received the “Largest Fastest Growing Private Company” award by the L.A. Business Journal
Established Westlake Flooring Services division to provide dealerships with flooring lines of credit
Integrated with Dealertrack and expanded the relationship with RouteOne Integration for franchise dealers
Signed 15,000 dealers and funded more than any other year with $1.3 Billion in purchase contracts

2012

Established Westlake Services and Lending Solutions (WSLS) division to provide leads to partner dealerships
Ranked the 51st Fastest Growing Private Company by the L.A. Business Journal
Developed a partnership with Carmax

2011

Subsidiary 1(800) Car-Title celebrated its 10 Year Anniversary
Japanese conglomerate Marubeni Corporation invested $250 million dollars taking a 20 percent ownership stake in Westlake
Portfolio reached $1 billion dollars in total receivables with more than 150,000 accounts
Started loan originations in Massachusetts, making Westlake a 50-state national lender
Ranked the 63rd Largest and 80th Fastest Growing Private Company by the L.A. Business Journal

2010

Established portfolio acquisition division called Advanced Lending and Portfolio Services (ALPS)
Achieved 10,000 deals in one month

2009

Reached milestone of 100,000 customers
Integrated with RouteOne’s credit application management system
Awarded Auto Finance Company of the Year from Ford Motor Credit & Chase Bank

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-Title
Developed 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.