Pelican Auto Finance | Auto Finance News | Auto Finance News

Westlake Financial Aims for Another Year of Growth in 2019

Westlake Financial is shooting for 20% growth in 2019 on the heels of expansion of its direct lending platform and several other units, the lender announced last week. Westlake's portfolio shot up 35% last year, to a record $8.33 billion, with 40.5% of originations in the prime and near-prime credit tiers. Westlake Financial attributed some […]

Honor Finance’s ABS Downgrade Seems to Signal Market Contraction

Subprime auto lender Honor Finance’s 2016 ABS issuance is the first post-crisis downgrade — an indication that the industry’s contraction period is coming sooner than expected, Joe Cioffi, chair of the insolvency, creditors’ rights, and financial products practice group at Davis & Gilbert, told Auto Finance News today. “[The downgrade] is a reminder that ratings are […]

Westlake Plans Expansion Into Canada, Puts Used-Leasing on Backburner

Westlake Financial Services is “aggressively looking to grow” its business into Ontario, Canada, in the third or fourth quarter, Group President Ian Anderson told Auto Finance News. Westlake will begin by making itself available to dealers through Dealertrack, as well as by sending physical representatives to dealerships to introduce the lender to the market. “We […]

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

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 […]

BREAKING: Pelican Halts Originations, Transfers Portfolio to Westlake

Pelican Auto Finance LLC, a deep-subprime lender, stopped originating loans and transferred 95% of its portfolio to Westlake Financial Services‘ new venture Westlake Portfolio Management LLC on March 15, Auto Finance News has learned. Pelican halted originations as of Dec. 1, 2017, but began to taper off originations months before that time, co-founder and Chief […]

11 Executives Offer Predictions for 2018

From the expansion of mobility services to technology enhancements and continued depreciation of used-car values, a lot has been stirring in the auto finance space this year. And even more change is anticipated next year, according to some executives in the auto finance sector. Auto Finance News asked eleven executives, “What are your predictions for […]
Page 1 of 512345