Founded in 1988 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. Westlake Financial Services has a network comprised of more than 50,000 new and used car dealerships from around the country.

Rank Chart
Loan Amount
New Car Term Length
Our Score
#1
$5k-$100k
24-84
6.2
#2
$8,000 - ?
36 - 72 Months
6.1
#3
$1k-$100k
36-84
5.0
#34
WestlakeFinancial
Undisclosed
Undisclosed
0.9

The Good

  • Over 400 dealer account managers
  • Subprime loans available
  • Variety of programs

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 dealers.

Subprime Loans Available

Westlake Financial Services works with a wide variety of subprime lenders, which gives the company 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 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.

The Bad

  • Terms and fees not disclosed
  • Approval times unclear
  • Approval not guaranteed

Terms and Fees Not Disclosed

Westlake Financial Services has not disclosed loan term and fee information on its corporate website. It is unclear what the available term lengths are and whether or not the company charges application or prepayment fees. Although these factors typically vary on a case-by-case basis, it would be convenient if Westlake Financial Services provided a range to give potential customers an idea about what to expect.

Approval Times Unclear

Westlake Financial Services is not entirely clear about exactly how long it will take to be approved for a loan. The company 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 companies that offer guaranteed approval proudly display that information on their websites.

The Bottom Line

Westlake Financial Services has a large network of dealers and offers auto loans for all types of credit, including bad credit and no credit. However, the company is not entirely transparent on its corporate website. Loan terms and fees are not disclosed and approval times are unclear. Additionally, it appears that approval is not guaranteed.

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