Used-Car Lessor Brite Financial Projects 75% Growth This Year

Brite Financial, the subprime used-vehicle leasing arm of CARite dealerships, is on pace for a record year of originations, Chief Operating Officer Mike Cavanaugh told Auto Finance News. With 2,624 contracts originated year to date, the financial arm has already surpassed full-year 2016 originations. Last year, the company originated 2,491 contracts, and this year it’s […]
  • William Hoffman
  • August 24, 2017
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Westlake’s Customized Subprime Program Hooked CARite

Westlake Financial Service’s partnership with the online and brick-and-mortar dealership group CARite began with a message on LinkedIn. “We were evaluating which lenders we do business with and where we saw some gaps in terms of who can approve what kinds of deals,” Mike Cavanaugh, chief operating officer for CARite, told Auto Finance News. “I […]
  • William Hoffman
  • August 15, 2017
  • 0

Westlake Emerges as Preferred Subprime Lender for CARite

Westlake Financial Services is the new leading provider of subprime and near-prime retail contract loans at CARite dealerships through a strategic partnership announced in a joint press release Thursday. Westlake snagged the preferred subprime lender slot over two larger players in the space. Ally Financial Inc. and Capital One Auto Finance were already originating on […]
  • William Hoffman
  • August 11, 2017
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