Name: Westlake Financial Services
Rating: 1.2

LAST UPDATED: July 19th, 2024

Founded in 1978 and headquartered in Southern California, Westlake Financial Services offers a full suite of car loan options and specializes in prime to subprime auto retail installment contracts. It even finances customers with no credit, a history of bankruptcy or repossession (through a company besides Westlake).

Westlake Financial Services has a nationwide network, servicing more than 28,000 new and used car dealerships from around the country. It is not a direct lender. Once consumers get pre-qualified through the online service, they are connected to local in-network dealers, where a full credit application can be completed after a deal is struck.

Financing options available to consumers at the auto dealership are determined by customer credit scores and broken up into three tiers of contracts:

Standard Program:

FICO scores: 0-599
APRs: Not listed
Maximum loan amount: $30,000

Gold Program:

FICO scores: 600-699
APRs start at 9.99%
Maximum loan amount: $30,000

Platinum Program:

FICO scores: 799 and up
APRs start at 5.99%
Maximum loan amount: $50,000

All three service tiers offer loan terms up to 72 months (6 years), accept hard-to-prove incomes, have no minimum loan amount requirements, and no vehicle mileage restrictions. In addition, no minimum income requirements are needed.

Westlake borrowers can make payments for free online with a checking or savings account, or via mail. Additionally, a monthly payment can be made through the lender’s automated phone system, with a phone representative, via MoneyGram, Check Free, or Pay Near Me, but all for a service charge ranging between $1.50-$5.

Keep reading for pros and cons of financing your next vehicle with this company, as well as Westlake Financial reviews from customers.

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The Good

Over 400 Dealer Account Managers
Subprime Credit Acceptance
Variety of Lending Programs
Vehicle Options

Over 400 Dealer Account Managers

Westlake Financial Services has more than 400 dealer account managers located in all 50 states. The company also has over $3 billion in total managed assets. Westlake Financial Services appears to be a financially stable company with a large portfolio of dealer partners.

Subprime Credit Acceptance

A wide range of borrowers is able to take advantage of Westlake’s financial services. The company even has the ability to approve hard-to-finance customers with FICO scores under 599.

In fact, Westlake Financial Services does not have a minimum FICO score requirement in place and will approve consumers with low incomes and past bankruptcies or repossessions.

Variety of Lending Programs

Westlake Financial Services offers a variety of auto loan programs, including its Gold program, Platinum program, and AAA program. These programs do a nice job of catering to borrowers with different credit scores and incomes.

AAA customers get special rates, regardless of their credit score. These customers qualify for rates between 4.99-15% APR.

Vehicle Options

Many car loan companies have service requirements about the actual vehicle they are financing. Many even have a minimum loan amount, starting at $4-5,0000. With Westlake, there is no minimum loan amount, and no maximum vehicle age or mileage. This means that people who can’t afford newer cars with other lenders can be accepted and be able to buy older cars.

This isn’t always a benefit, especially when you can afford newer, more expensive models. However, for consumers not able to make such a large investment, or those only eligible for subprime auto loans, this is a definite plus.

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The Bad

Contract Terms and Fees Not Disclosed
Approval Times Unclear
Approval Not Guaranteed
Need More Consumer Info

Contract Terms and Fees Not Disclosed

Westlake Financial Services has not disclosed loan term and fee information on its consumer website. It is unclear what term lengths are available and whether clients have to pay application fees, late fees, or prepayment fees.

Although these factors typically vary on a case-by-case basis, it would be convenient if Westlake’s auto lending website provided a range to give potential customers an idea about what to expect.

Approval Times Unclear

Westlake Financial Services is not entirely clear about timeframes for its approval process. Exactly how long will it take to be approved for an auto loan?

The business does state on its website that it offers instant approval through its dealer network, but "instant" can be a relative term and doesn't give potential customers a solid answer about how long it will take to receive approval.

Approval Not Guaranteed

While Westlake Financial Services advertises great terms for all credit types, the company does not come right out and state that approval is guaranteed. Most auto lenders that offer guaranteed financing approval proudly display that information on their websites.

Need More Consumer Info

From the Westlake customer reviews that we have received, there are a few concerns about this auto lender. Some mention negative customer service experiences and payment complaints. At this time, we need to collect a little more customer information before we can solidify a recommendation; however, it's not looking good for this lender.

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The Bottom Line

Westlake Financial Services has a large network of car dealers and offers auto loans for all types of credit, including customers with a bad credit score or no credit history. People looking for a subprime lender in the auto industry don't have a lot of financing options.

However, the service provider is not entirely transparent on its corporate website. Loan terms and rates are not fully disclosed, approval times are unclear, and how much money Westlake will charge a customer for late payments is undisclosed. Additionally, it appears that approval is not guaranteed.

Have you borrowed money to finance a car with Westlake? Let us know about your lending and customer service experience with a quick response below.

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User Reviews

Star Rating

1.2

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28 Reviews

Review Breakdown

5 grade

4 grade

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1 grade

93%

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Lisa T

Just like soooo many others, I highly, highly suggest staying away from this company. Do everything you can to NOT use them. They are so unprofessional and they lie about “fees”. They know there is no repercussions and if you don’t pay the “fake” fees, they will repo your car. I wish I had read the reviews before I went with this company. They offered a slightly better interest rate than the other companies I could have went with, but the other companies don’t have nearly as many bad reviews. I didn’t know Westlake made their money in other ways then just interest fees. I probably would have came out cheaper going with another finance company. Their agents are also rude, trained to lie, and just pains to deal with.

4 months ago

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BWeller

Dealership requested financing through WestLake. They required an increase in the car price which was not told to us by neither the dealership nor Westlake, they took a long to to send the title after it was paid off and also to report it to the credit agencies.

7 months ago

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Verified Customer

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Marlene Botka 46554

Extremely helpful, when my husband ended up in the hospital we they worked with me on payment to help us out.

6 years ago

chris candido Saxton, PA

Westlake is a horrible company. With a 698 credit score I ended up still with 14 percent interest the car I was looking at and bought was priced at $6000 but when the dealer requested the loan through with Westlake they said the car was worth more so they would only give out a loan for $10,000 so this car went from being a $6000 car to at the end of the term being $17,000 which means I would've paid them 7000 my payment was $300 a month and 180 of it was to them and 120 was principal by the grace of God. Thank God I had gotten gap insurance and for five months after I bought a vehicle it was totaled by a young driver so no more payments it is November now 2023 and they haven't reported to any of the credit bureaus since August going on over three months still saying I owe $10,000 even though the car was totaled two months ago and they report it three months ago , they owed me money each time I spoke to someone I will get a different answer. One person said no you're not getting any another one said yes you got a wait a month finally I got my money but no one there knows what they're talking about please anybody seeing this I know times are tough but it's not worth it by a used car cash or go through a different company because they are horrible . Horrible experience I cannot believe companies like this are around or even allowed. I understand making money but come on!!! Please think twice before using them, look at the reviews.

1 year ago

Frani Salisbury, MD

Absolutely awful. We received many texts and phone calls to verify the same information multiple times. It was absolutely infuriating, especially as the last person who called was not able to be understood. As we had already verified the same information many times, we became concerned. The rep. from Westlake became impatient just because we wanted to be sure who had called us. He wouldn't listen to us and kept repeating things. If we can, we will refinance out of this company so fast because I have never dealt with a company like this before. My wife has worked in banking and customer service, including time at the managerial level, for around 20 years, and this place just seems sketchy. Also, the rep told us something wrong that caused a lot of concern. It could have been either their system was wrong or the rep didn't know where to look, not sure which, but we logged online after the call, and it was very clear that he had given us the wrong info. NOT a good experience at all.

izztiger mobek Austin, TX

All they care about is the money you owe them,my 2008 Chevrolet Silverado truck transmission went out and had to put it in the shop I only had it 7 months and this happened, Westlake financial didn't care about what happened all they wanted was there money,not to mention the warranty company only wanted to pay half the bill of the $2500 for the transmission,I told Westlake financial I had to pay the machanic first and all they said was my interest would go up for everyday it was late and this point it was 18 days late,there no customer satisfaction here all they care about is themselves and the money you owe them I would give them zero stars.

2 years ago

Clay Fazenbaker Cumberland, MD

They are taking more money from me in interest then they are putting towards the loan for my truck. Every payment I have made has had over half of it go towards interest. I got the truck in March 2020. I made my first payment on April 4th, 2020. The loan had started out at $12,422.36 (after down payment). I made the first payment of $407.79 and $265.25 was taken for interest. $142.54 was all that was put towards the principal. And it has been the same way every time I make a payment. At this rate the truck will never be paid off. It was been 2 years of paying $407.79 a month and they say I still owe $9,201.86. I figured it up and $407.79 × 24 = $9,786.96. That is how much they have gotten out of me already for a 2007 truck with a bunch of problems. The 4WD didn't work when I got the truck which I didn't know till later when I needed it. They are scamming me so bad and I need help. This isn't right for them to be able to do this to someone. I have 3 kids and can't afford to spend all this money they want for this truck. They must have an 80% interest rate. I could have bought a brand new truck for what they are charging me. Never ever ever again will I use this company. Or should I say, let them use me!!!

Melody Figueroa Bushkill, PA

Horrible. They call me every day and hung up. Finally a lady spoke on the phone and offered me GAP insurance. I told her that I was very very busy this week and I will get to it when I get a chance. She sent me a text message with the information and wouldn't get off the phone until I signed, I was driving (speaking via bluetooth) I explained to her that I was going somewhere and it was really bad timing for me to read a contract and that I would read it later. She said ok. Phone calls have been NON STOP since. I answer the phone and they hung up, again! Finally some guy named "Jose" I wish I could remember his last name, actually spoke when I answerd the phone. I said I got the message about the gap insurance but have not gotten a chance to look at it yet. He said "I take that as a you are NOT interested and I am removing you" I told him that's not what I said at all. He was so rude. I will be refinancing like many others.

Winnijo Watson Mount Laurel, NJ

Avoid like the plague. Lost my payoff check, harassed me every day. I paid again on 7-12 charged late fees and service fees. Then on 7-16 they deposit the original check. Needless to say, I didn’t have an extra 3000.00 in the bank, especially when they assured my check would be returned or voided. Spoke to Stacy who said the late fee and service fee would be refunded ( a whopping 17.54.) July 21st I received a letter saying my payment was due. Called and spoke to Jissell T (supervisor) who stated she would not return my fees, there’s nothing she could do, and no one else I could speak to. I said your a bank, you can write a check. No, can’t do that.

3 years ago

Atir Baltimore, MD

My account got brought by Westlake. I was never late paying my bill ever even during the pandemic. When they purchased my account I was sent messages that they didn't have my auto insurance which I gave the dealer copies before I drove the vehicle off the lot. Now I have paid off my vehicle I was told it would be 90 days before they report to the credit agencies. How obscured. They haven't reported the my vehicle was paid off for months and stop reporting my payments way before that. Now the credit agencies are thinking am delinquent when In fact I am not. They also made me pay late fees sling I was late when I was NEVER late. My contract say no late fees until after a certain date. I never paid after that date and I have proof of it. I also learned that they was holding my payments after the date mentioned in my contract so they could make money on late fees when I was never late. I am thinking about getting an attorney to sue them. This is a scam to ruin people's credit. Now my vehicle is paid off as agreed and they stopped reporting to the credit agencies months prior, took more money then what they was supposed to have at the end and not the credit agencies think I have not be paying my auto loan and it still outstanding. They haven't reported since October 2020. Its been paid off since December 2020 and now it the end of January. 3 months of no payments being reported. Don't use this company for financing. They are scam, shady and will ruin your credit even when you pay you bills on time. They need to be shut down. I am going to report them to department of regulations and licensing and the attorney General and also get a lawyer. They need to be exposed and answer for the fraudulent acts.

mapindio Philadelphia, PA

If possible NO STARS is what this place deserves. When we started to check up on the loan West Lake has been giving us the runaround. We were trying to pay off the vehicle even went ahead and made extra payments on the loan and every time the extra payment was made the next bill did not add up there would always be an extra $90 to around $110 dollars that was unaccounted for. After several calls and several HOURS speaking to people and alleged supervisors from west lake no one could give us a straight answer as to what is happening with the extra payments. When we called and asked if we could just make one last payment and how much it would be they tacked on an extra $3000.00 dollars to the final pay off then couldn't even explain where or why that was. They keep giving you the runaround and since they're on the clock and actually get paid to feed you BS answers they don't mind. It's so frustrating to get on the phone with people who just blatantly rip you off your hard earned money and just continually continue to do business. Please be careful when you go buy a vehicle. Do your due diligence and get pre approved by a reputable bank or anywhere but this place. For anyone reading I hope it's not too late for you. Good luck and thanks.

4 years ago

Joann loffler Endicott, NY

Paid car off. Never a late pay. 2 years after pay off,I was selling the car and realized they never sent a lien release..I contacted them on this and it have been a run around. Customer service,transfers to dead lines, no return calls, puffed promises with no results. With this,,I can collect for damages since I live in New York where I also purchased the car. If I don't have that release within 24 hours, tgey will be required to return every dime I paid them they only have 3 days to send out and file the lien release with DMV. They be rude, but they are also stupid... You would think they would respond better to customers who catch them on violations like this. 👍

4 years ago Edited July 19, 2022

BadBusiness Tuscaloosa, AL

Had car financed by you all. 1st payment was due Aug 6, I got sick with COVID called and told you all about this and I wasn’t going to be able to make that 1st payment but will make two payments in Sept (which was done), made Oct payment as well but Nov I got ready to make payment and car lot said I was going to have to bring it to them. Got there and they took my car. I’m telling them I have COVID, wouldn’t be able to make it, they saying it would be okay if I made the payment in Sept and now I’m without my car.

Ashley Manchester, NH

Interest is so incredibly high I already had good credit before this so I don't see why I have like 40% Interest on a used car that is an 07.. 14 year old car and my load was for 7,000 i put 2,000 down what a rip off.. based off other reviews I want to refinance but I don't think this company will provide proper information toy bank. I'm afraid to pay this off and never get my title I was gonna make double payments to pay off faster but I also see that the company can't account for your money properly. There are plenty of reasons to not use this company

Justus Aiyela Bladensburg, MD

Westlake has treated me like a slave. APRs and other interests can be negotiated. Paid over 4,000 in interest alone and couldnt continue making that payment then called to request for a downward review so i continue making payments and they said except i refinance. Fraud!!! I am asking YOU for a review, they are asking to be bought off at almost 30% interest? For a depreciating item? These practices are the worst. I am directly contacting you sir and i am hoping that based on your knowledge of business, this would be resolved.

Rebecca Richmond, VA

Horrible company. Terrible customer service. They dont work with you if you have a problem. Their interest is ridiculously high. There reps are rude and condescending on the phone. If your even a day late they are threatening repo. If you can help it, save yourself a headache as well as some money and choose ANY other lender. Seriously, ANY other lender.

6 years ago Edited September 14, 2021

Eduard Arutyunyan Glendale, CA

Worst financial company ever, they are crooks, stay away from this terrible company. They have terrible customer service. I had a car loan, never received a statement or a call from them, whe I received my statement I made a payment right away only to find out that my payment was late 14 days and the loan was canceled, thieves.

G G

the auto loan contract is just horrible, collections practices beyond illegal. I am going through hell and back with this bank. They will harass you day and night if you miss one payment. Do not recommend, they will destroy your life and suck all the money they can from you.

Lovett Obeng Decatur, GA

Westlake have asked for front/back of Photo ID and SSN #s front/back... for verification... after I was present in the dealership office and gave them my photo ID... they wanted more verification I find that very odd. This isn't my first auto loan... hope Westlake does not sell our info to 3rd party companies ...

2 years ago Edited April 8, 2022

Thomas Elzey Orangeburg, SC

They are pure and simple a scam . They hoodwinked my son in law into a 20.9% loan and refuse to renegotiate or refinance . Worst part is that the representative on the phone was both belligerent and condescending. Stay away from them !

Mike Matish Schwenksville, PA

this is the worst company I ever dealt with do not engage 1 day late they blow up your phone multiple times a day everyday which is harassment as if they don't charge $30-40 late fees FYI this is not an amazing as this box says and can't change current customer

Jacob Giles West Plains, MO

Haven't even made my first payment and I can't stand these people. Theyve had my name wrong from day one. I've been fighting them for 2 weeks and honestly I'm already sick of them. I'm having to jump through hoops, being left on hold forever, not getting to talk to a supervisor for weeks now. Do not use them.

johnny skinner Barling, AR

I payed off my dodge ram and ask for my title . I lice in arkansas so I ask them to send it to me. A guy named Mike who workes there said he sent it to arkansas. i checked with the DMV in arkansas and they said it was never sent to arkansas. I would never have anyone deal with this bank . they hung up on me twice.

5 years ago

pepperbofb Berkeley, CA

Chris S and DIane are horrible representatives. They are unhelpful but so is the rest of the staff. The dumb company will sent you a approval and have you running around to try to find a car and deny them all. They do not respond to emails and treat people like crap. DO NOT USE THIS COMPANY AT ALL THEY ARE THE WORSE. EVEN WORSE THAN SANTANDER.

upset client Syracuse, NY

They are the worst I paid off my vehicle and it has been over a year and they keep giving me the run around. To this day they keep lying to me and nothing has been done and their staffs are all unprofessional and its sickning but my next step will be to get a lawyer so if u need a car loan dont go wjth weslake financial worst company ever 😠

J D Bridgeport, CT

I was told by a Representative that the first year of making payments, all of not most of the payments go towards the interest of the loan ! Not Amazing !

Pam Cox

Rude and very unprofessional . They tell you one thing one time and the next time it's something different. Will never use them again. It's truly a scam.

d daynamcfly Hailey, ID

this company offered ONLY salvage title cars to my son who was seeking a loan. They did not reveal this.