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
  • 2

Westlake Said to be Prepping Subprime Used Leasing

A Westlake Financial Services executive said last week that the company has plans to launch a subprime, used-vehicle leasing program potentially before yearend. Earlier this month, the lender acquired Credit Union Leasing of America (CULA), which originates lease contracts through its technology, but leaves the servicing and money factor for the credit union. Westlake Group President […]
  • William Hoffman
  • June 26, 2017
  • 2

Westlake Grows Assets $1.5B With Acquisition of CULA

Westlake Financial Services has acquired Credit Union Leasing of America, which helps its credit union clients form leasing programs, the lender announced Thursday.   The deal increases Westlake’s total managed assets to $5.5 billion from $4 billion, according to the release. S&P Global’s presale report of the company’s first securitization of the year pegged their […]
  • William Hoffman
  • June 16, 2017
  • 3