Westlake Financial to Launch Direct Lending Portal for Private Party, Dealer Sales | Auto Finance News | Auto Finance News

Westlake Financial to Launch Direct Lending Portal for Private Party, Dealer Sales

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LAS VEGAS — Westlake Financial Services is developing a direct lending portal that will allow consumers to bring preapproved loans to dealerships or private party transactions, Group President Ian Anderson told AFN during a meeting at the National Automobile Dealers Association Expo.

The portal, to be called Loan Center, will be released “soon,” Anderson said without elaboration. A Westlake spokesman failed to respond by press time to requests for detail on the initiative.

Separately, Anderson said his goals for the year include growing floorplan unit Westlake Flooring Services and deep-subprime division Western Funding.

Earlier this month, the company launched a super-prime program and purchased a majority of Pelican Auto Finance’s portfolio to be serviced by a new division, called Westlake Portfolio Management LLC.

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